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What's in Store for Brookfield Renewable (BEP) in Q1 Earnings?

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Brookfield Renewable Partners L.P. (BEP - Free Report) is set to release first-quarter 2023 results on May 5, before the opening bell. In the last reported quarter, the firm delivered a negative earnings surprise of 300%.

Let’s discuss the factors likely to be reflected in the upcoming quarterly results.

Factors to Note

Brookfield Renewable’s first-quarter earnings are likely to have benefited from contributions from a global asset base spread across four continents. The stable contribution from acquired assets, organic projects and increasing demand for power produced from renewable assets are likely to have contributed to first-quarter earnings.

Strong customer relationships and BEP’s proven track record of growth across all major technologies are likely to have aided its first-quarter earnings.

Expectations

The Zacks Consensus Estimate for first-quarter loss is pegged at 13 cents per unit, indicating an 18.75% improvement from the prior-year reported loss of 16 cents.

Earnings Whispers

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.


Earnings ESP: BEP’s Earnings ESP is +115.39%. 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.

Other Stocks to Consider

Investors can consider the following players that have the right combination of elements to beat earnings in this reporting cycle.

Eversource Energy (ES - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 3, after market close. It has an Earnings ESP of +0.49% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

ES’ long-term (three- to five-year) earnings growth rate is pegged at 6.34%. The Zacks Consensus Estimate for the company’s 2023 earnings is pinned at $4.36 per share, indicating a year-over-year increase of 6.6%.

Fortis Inc. (FTS - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 3. It has an Earnings ESP of +1.65% and a Zacks Rank #3 at present.

FTS’ long-term earnings growth rate is pegged at 5.57%. The Zacks Consensus Estimate for the company’s 2023 earnings is pinned at $2.18 per share, indicating a year-over-year increase of 1.9%.

PPL Corporation (PPL - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 4. It has an Earnings ESP of +7.69% and a Zacks Rank #3 at present.

PPL’s long-term earnings growth rate is pegged at 7.42%. The Zacks Consensus Estimate for PPL’s 2023 earnings is pegged at $1.58 per share, indicating year-over-year growth of 12.06%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

 

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