Brookfield Renewable’s reported loss was slightly larger than analysts expected, even as funds from operations (FFO) per unit rose 11% and reached a quarterly record.
Brookfield Renewable Partners L.P. (BEP-UN.TO) reported a third-quarter 2026 loss of US$0.52 per unit, compared with analysts’ expected loss of US$0.51. Adjusted revenue was US$968 million, below the US$989.3 million consensus estimate but up 17.2% from a year earlier. Meanwhile, FFO rose to US$346 million, or US$0.51 per unit. For Canadian investors, the results offer two different signals: a reported loss and missed estimates, alongside stronger operating cash flow, new capacity and asset-sale proceeds.
Recent earnings trend
Brookfield Renewable Partners L.P
BEP-UN.TO
BEP-UN.TO
Brookfield Renewable Partners L.P
WealthAwesomeMarket cap
$30.09B
Div. yield
3.52%
Div. / share
$1.55
52W high
$52.21
52W low
$35.37
1W change
+1.05%
Beta
0.95
Analyst Price Targets
Based on analyst covering BEP-UN · as of Nov 11, 2026
Wall Street analysts forecast BEP-UN stock price to rise 10.8% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$48.04
+10.8% Upside
Previously C$46.29 on Nov 9, 2026
Current Price
C$43.37
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on BEP-UN's historical volatility
30-Day Vol
30.3%
Annualized
90-Day Vol
28.5%
Annualized
Trend (90d)
-35.7%
Annualized drift
90d Mean
C$38.18
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$41.57 | C$37.45 – C$46.14 |
| 60 trading days | C$39.84 | C$34.37 – C$46.18 |
| 90 trading days | C$38.18 | C$31.87 – C$45.75 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 5 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-01-29 | — | -0.5500 | — |
| 2026-09-30 | 2026-11-04 | -0.5200 | -0.5100 | -2.0% |
| 2026-06-30 | 2026-07-31 | -0.3700 | -0.4000 | +7.5% |
| 2026-03-31 | 2026-05-01 | -0.4000 | -0.4400 | +9.1% |
| 2025-12-31 | 2026-01-30 | 0.5400 | -0.3800 | +242.1% |
| 2025-09-30 | 2025-11-05 | -0.2300 | -0.0900 | -155.6% |
Investor takeaway: The per-unit loss was slightly worse than expected, and revenue also missed estimates. But FFO per unit rose 11%, and management said 2026 earnings growth should meet or exceed its long-term targets. When reviewing the results, distinguish reported net income from FFO. Also consider weaker hydrology, growth spending and the proposed BEP–BEPC simplification. See the BEP.UN stock page for company and share information.
US$0.51 FFO per unit
Quarterly FFO per unit rose 11% from a year earlier, despite the reported loss of US$0.52 per unit. FFO is a key measure of Brookfield Renewable’s operating performance, but it doesn’t change the fact that earnings and revenue missed estimates.
Bull case
FFO rose 15% overall to US$346 million and increased 11% per unit from a year earlier. Brookfield Renewable commissioned 2.5 gigawatts of capacity and signed power purchase agreements for 1.6 gigawatts during the quarter. It also reported about US$2.8 billion in expected asset-sale proceeds, including US$850 million net to the partnership, and US$5.1 billion in available liquidity. Management expects 2026 earnings growth to meet or exceed its long-term targets, which include annual FFO-per-unit growth of at least 10%.
Bear case
The reported loss widened to US$0.52 per unit from US$0.23 a year earlier, and adjusted revenue missed consensus by about 2.2%. Hydroelectric results were affected by weaker hydrology in Ontario and Colombia. Battery-storage returns in ERCOT also faced pressure from oversupply and narrower spreads. The proposed simplification of BEP units and BEPC shares had not yet received the required level of approval, so the voting deadline was extended to November 25, 2026. Brookfield Renewable expects distribution growth near the lower end of its 5%–9% target range as it focuses on reinvestment and lowering its payout ratio.
Analysis
For the quarter ended September 30, Brookfield Renewable reported a net loss attributable to unitholders of US$314 million, or US$0.52 per LP unit. A year earlier, the loss was US$120 million, or US$0.23 per unit. The latest per-unit loss was 1.96% larger than the US$0.51 analysts expected. Adjusted revenue rose 17.2% year over year to US$968 million, but fell short of the roughly US$989 million consensus estimate. The company’s earnings snapshot separately reported revenue of US$1.78 billion. The adjusted revenue figure is the one compared with analysts’ estimates here.
FFO offered a stronger view of operations. It increased 15% to US$346 million, or US$0.51 per unit, up 11% per unit from a year earlier. FFO for the trailing 12 months reached US$1.488 billion, or US$2.18 per unit. The earnings trend table and chart show the quarter-by-quarter results. The latest quarter followed three estimate beats in the previous four reported quarters.
Analysis
Brookfield Renewable’s hydroelectric segment generated US$214 million in FFO. Gains from asset sales helped offset weaker hydrology in Ontario and Colombia. Wind and solar generated a combined US$243 million in FFO, supported by new capacity and asset-sale gains. Distributed energy, storage and sustainable solutions contributed US$54 million.
During the quarter, the partnership invested or committed about US$3 billion, including the acquisition of Boralex. It commissioned 2.5 gigawatts of capacity and signed power purchase agreements for 1.6 gigawatts. After the quarter ended, it completed its Aypa acquisition. The company also expects about US$2.8 billion in proceeds from asset sales made since the end of the second quarter, including US$850 million net to Brookfield Renewable.
Management expects 2026 earnings growth to meet or exceed its long-term targets. Risks include weaker hydrology, narrower battery-storage spreads in ERCOT and the extended vote on the proposed BEP–BEPC simplification. The company targets distribution growth of 5%–9%, but expects growth near the lower end of that range.
Analysis
The supplied analyst data show an average price target of C$48.04, compared with the last close of C$43.37. That implies 10.8% upside. The average target suggests moderately bullish sentiment, though a formal rating isn’t available for Canadian listings. See the analyst ratings section for details.
Wealth Awesome’s statistical 90-day price model gives a mean forecast of C$38.18. Its 68% range is C$31.87 to C$45.75, and its 95% range is C$26.60 to C$54.82. This is a statistical model, not financial advice or a price target. See the price-prediction section and the BEP.UN stock page for more context.
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