Compared to Estimates, Brookfield Renewable (BEP) Q2 Earnings: A Look at Key Metrics

Core Viewpoint - Brookfield Renewable Energy Partners (BEP) reported a revenue of $830 million for Q2 2024, marking a 15.4% year-over-year increase, but fell short of the Zacks Consensus Estimate by 9.32% [1] Financial Performance - The earnings per share (EPS) for the quarter was -$0.28, compared to -$0.10 a year ago, resulting in an EPS surprise of -315.38% against the consensus estimate of $0.13 [1] - Actual generation metrics showed underperformance against analyst estimates in several categories, including hydroelectric and wind generation [3][4] Generation Metrics - Hydroelectric generation in North America was 2,987 GWh, below the average estimate of 3,414.19 GWh [3] - Total wind generation was 2,108 GWh, compared to the estimated 2,224.41 GWh [3] - Solar generation reached 1,109 GWh, slightly below the average estimate of 1,156.9 GWh [3] - Hydroelectric generation in Brazil was 1,029 GWh, closely matching the estimate of 1,028.49 GWh [4] Operating Revenue - Operating revenue from hydroelectric in North America was $256 million, below the average estimate of $287.33 million, reflecting a year-over-year decline of 6.6% [5] - Operating revenue from hydroelectric in Brazil was $53 million, compared to the average estimate of $62.48 million, showing an 8.6% year-over-year decline [6] - Operating revenue from hydroelectric in Colombia was $72 million, slightly below the estimate of $72.75 million, but represented a year-over-year increase of 9.1% [7] - Utility-scale solar operating revenue was $120 million, below the average estimate of $146.97 million, with a year-over-year increase of 9.1% [8] - Wind revenue was $154 million, compared to the estimated $167.36 million, reflecting an 18.5% year-over-year increase [9] - Hydroelectric revenue totaled $381 million, below the average estimate of $422.56 million, representing a 4.3% year-over-year decline [10] - Operating revenue from distributed energy and sustainable solutions was $61 million, below the average estimate of $77.58 million, indicating a year-over-year decline of 24.7% [11] - Operating revenue from sustainable solutions was $114 million, slightly below the average estimate of $119.50 million [12] Stock Performance - Shares of Brookfield Renewable have returned -4.7% over the past month, compared to a -0.4% change in the Zacks S&P 500 composite [12] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [12]