Brookfield Renewable Partners (BEP) Q3 2024 Earnings Call Transcript

Headline:

Brookfield Renewable Reports Strong Q3 Results, Raises 2024 Guidance

Brookfield Renewable Partners (BEP) reported strong third-quarter results, beating analyst expectations on both revenue and earnings. The company also raised its guidance for 2024, citing strong demand for renewable energy and its continued focus on cost control.

Revenue for the quarter came in at $1.5 billion, up 12% year-over-year. This was driven by strong growth in the company's hydroelectric and wind businesses. Earnings per share (EPS) came in at $0.65, up 10% year-over-year.

For the full year, Brookfield Renewable now expects to generate revenue of $5.9 billion to $6.1 billion, up from its previous guidance of $5.7 billion to $5.9 billion. The company also expects to generate EPS of $2.55 to $2.65, up from its previous guidance of $2.45 to $2.55.

The company's strong results and guidance increase reflect the growing demand for renewable energy. As more and more countries and companies commit to reducing their carbon emissions, the demand for renewable energy is expected to continue to grow.

Brookfield Renewable is well-positioned to benefit from this growing demand. The company has a large and diversified portfolio of renewable energy assets, and it is continuing to invest in new projects.

Key Highlights from the Earnings Call:

• Revenue of $1.5 billion, up 12% year-over-year
• EPS of $0.65, up 10% year-over-year
• 2024 guidance raised to revenue of $5.9 billion to $6.1 billion and EPS of $2.55 to $2.65
• Strong demand for renewable energy
• Brookfield Renewable is well-positioned to benefit from this growing demand

Conclusion:

Brookfield Renewable's strong Q3 results and guidance increase are a testament to the growing demand for renewable energy. The company is well-positioned to benefit from this growing demand, and it is a good investment for investors looking to gain exposure to the renewable energy sector.