What Awaits Brookfield Renewable (BEP) This Earnings Season?
Brookfield Renewable Partners L.P. BEP is set to release fourth-quarter 2022 results on Feb 3, before the opening bell. In the last reported quarter, the firm delivered a negative earnings surprise of 525%.
Let’s discuss the factors likely to be reflected in the upcoming quarterly results.
Factors to Note
Brookfield Renewable’s fourth-quarter earnings are likely to have benefited from contributions from acquired assets and organic growth projects. The firm is expected to have benefited from stable contribution from its renewable assets spread across four continents.
Deep customer relationships and BEP’s proven track record of growth across all major technologies are likely to have contributed to its fourth-quarter earnings.
The Zacks Consensus Estimate for fourth-quarter loss is pegged at 4 cents per unit, indicating an 66.7% improvement from the prior-year reported loss of 12 cents.
Our proven model predicts an earnings beat for Brookfield Renewable Partners this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is the case here as you will see below.
Brookfield Renewable Partners L.P. Price and EPS Surprise
Brookfield Renewable Partners L.P. price-eps-surprise | Brookfield Renewable Partners L.P. Quote
Earnings ESP: BEP’s Earnings ESP is +137.5%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Brookfield Renewable carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Here are some other stocks from the same industry that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
South Jersey Industries SJI is set to release fourth-quarter 2022 results on Feb 23. SJI has an Earnings ESP of +1.59% and a Zacks Rank #2.
The Zacks Consensus Estimate for 2022 earnings of South Jersey Industries suggests year-over-year growth of 7.4%. The current dividend yield is 3.43%.
Consolidated Edison, Inc. ED is set to release fourth-quarter 2022 results on Feb 16. ED has an Earnings ESP of +2.86% and a Zacks Rank #2.
The long-term earnings growth of Consolidated Edison is projected at 2%. The Zacks Consensus Estimate for 2022 earnings of ED suggests year-over-year growth of 3.9%.
Dominion Energy D is set to release fourth-quarter 2022 results on Feb 8. D has an Earnings ESP of +0.32% and a Zacks Rank #3.
The long-term earnings growth of Dominion Energy is projected at 5.8%. The Zacks Consensus Estimate for 2022 earnings of Dominion Energy implies year-over-year growth of 6.2%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Consolidated Edison Inc (ED) : Free Stock Analysis Report
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Brookfield Renewable Partners L.P. (BEP) : Free Stock Analysis Report
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