Brookfield Renewable Corporation Class A Subordinate Down 2.33% To $30.54 After Earnings Miss

Brookfield Renewable Corporation Class A Subordinate (BEPC) said before open Friday that it lost $0.16 per share in quarter four 2022.

On the revenue line, the company reported $1.2 billion, missing estimates by $14 million.

In the same quarter a year ago, the company lost $0.12 per share on revenue of $1.1 billion.

The stock is down 2.33% to $30.54 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Brookfield Renewable Corporation Class A Subordinate a Neutral Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 35. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Brookfield Renewable is a globally diversified multitechnology owner and operator of clean energy assets. The company's portfolio consists of hydroelectric, wind, solar, and storage facilities in North America, South America, Europe, and Asia and totals approximately 21,000 megawatts of installed capacity. Brookfield Renewable invests in assets directly as well as with institutional partners and joint venture partners and through other arrangements. The company offers two separate listings for investors: Brookfield Renewable Partners LP (BEP) and Brookfield Renewable Corp. (BEPC).