Brookfield Renewable Corp, a leading provider of electric services, disclosed its interim financial statements for the first half of 2024. The report, filed today with the Securities and Exchange Commission (SEC), presents the company's financial performance as of June 30, 2024.
The SEC filing, known as a 6-K form, includes the company's consolidated financial statements and notes for the six months ended June 30, 2024, and comparative data for the same period in 2023. This document also contains management's discussion and analysis of the financial results, providing investors with insight into the company's operations and financial condition.
Brookfield Renewable, which operates under the organization name 01 Energy & Transportation, is incorporated in jurisdiction A1 and has its fiscal year-end on December 31. The company's business address is located at 250 Vesey Street, 15th Floor, New York, NY.
The filing indicates that the information contained within the exhibits of the Form 6-K is also incorporated by reference into the company's registration statements on Form S-8 and Form F-3, which were filed previously with the SEC.
The financial statements included in Exhibit 99.1 offer a detailed account of the company's financial activities for the first half of the year, including income, expenses, assets, liabilities, and equity. These statements are accompanied by notes that provide additional context and explanations for the financial data presented.
Exhibit 99.2 features management's discussion and analysis, which aims to give a narrative explanation of the financial statements, highlighting significant changes and events that have impacted the company's performance during the reporting period.
The certifications of interim filings, as required by Form 52-109F2, are provided by the company's CEO and CFO, ensuring the accuracy and completeness of the reported financial information.
Investors and stakeholders can access these documents to gain a comprehensive understanding of Brookfield Renewable's financial health and operational progress. The report is based on a press release statement and is intended to provide transparent and factual information to the public.
The company's stock is traded on the exchange under the ticker symbol corresponding to its listing. The SEC filing offers a snapshot of Brookfield Renewable's financial position as it continues to navigate the electric services industry.
InvestingPro Insights
Brookfield Renewable Corp's recent financial performance, as detailed in their latest SEC filing, offers a mixed picture that investors may wish to consider alongside real-time data and analysis. According to InvestingPro Data, the company has a market capitalization of $10.41 billion and a Price/Earnings (P/E) ratio of 14.05, which suggests a moderate valuation compared to the market. However, the adjusted P/E ratio for the last twelve months as of Q2 2024 stands at a higher 45.21, indicating a premium price relative to the company's earnings.
Investors who prioritize income might find Brookfield Renewable attractive, as it pays a significant dividend with a yield of 5.1%. This is bolstered by a dividend growth of 5.19% over the last twelve months as of Q2 2024, reflecting the company's commitment to returning value to shareholders. Moreover, the company has demonstrated robust revenue growth of 21.03% over the same period, signaling strong operational performance.
Still, investors should also be aware of the potential challenges highlighted by InvestingPro Tips. Analysts do not anticipate the company will be profitable this year, and net income is expected to drop. Furthermore, short-term obligations exceed liquid assets, which could imply liquidity risks. On the positive side, Brookfield Renewable has been profitable over the last twelve months, which could reassure investors about the company's financial resilience.
For those considering an investment, Brookfield Renewable is trading at a low earnings multiple, as per one of the InvestingPro Tips. With more tips available on InvestingPro, such as whether the company is trading at a high P/E ratio relative to near-term earnings growth, investors may find additional guidance on the platform to inform their decision-making process.
Overall, while the company's stock performance has seen a 10.38% return over the last six months, it is important to weigh these real-time metrics and InvestingPro Tips against the backdrop of the company's financial statements and management's analysis to build a comprehensive investment thesis.
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