HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Brookfield Renewable Energy Partners LP (BEP) on Friday reported fourth-quarter net income of $678 million, after reporting a loss in the same period a year earlier.
The Hamilton, Bermuda-based company said it had net income of 54 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 34 cents per share.
The operator of hydroelectric and wind power generation facilities posted revenue of $1.54 billion in the period. Its adjusted revenue was $885 million, missing Street forecasts. Eight analysts surveyed by Zacks expected $934 million.
For the year, the company reported net income of $712 million, or 25 cents per share, swinging to a profit in the period. Revenue was reported as $3.54 billion.
Brookfield Renewable shares have risen 5.5% since the beginning of the year. The stock has risen 38% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BEP at https://www.zacks.com/ap/BEP
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