Brookfield BRP Holdings (Canada) Inc. (BEPH) is a holding company established as a subsidiary of Brookfield Renewable, a global leader in renewable power and sustainable solutions. Although its primary function is to act as a financing vehicle through the issuance of perpetual subordinated notes, it plays a critical role in ...Brookfield BRP Holdings (Canada) Inc. (BEPH) is a holding company established as a subsidiary of Brookfield Renewable, a global leader in renewable power and sustainable solutions. Although its primary function is to act as a financing vehicle through the issuance of perpetual subordinated notes, it plays a critical role in the capital structure of Brookfield Renewable. The company is headquartered in Ottawa, Canada, and operates within the real estate and infrastructure sectors, specifically in renewable energy assets. Its business model involves managing investments and providing financing solutions to support Brookfield Renewable's global portfolio of hydroelectric, wind, solar, and storage facilities. BEPH's financial performance is closely tied to Brookfield Renewable's operations, as evidenced by significant revenue and asset figures. The company has issued multiple perpetual notes, including a notable $350 million issuance in April 2021, and holds credit ratings from S&P and Fitch. As of the latest data, BEPH has a market cap of approximately $10 billion, with substantial debt levels and a focus on long-term, stable income generation. Key executives include CEO Sachin G. Shah, and the company employs over 5,800 individuals across its operations. Financially, BEPH reports strong gross profit margins and meaningful EBITDA margins, reflecting efficient operations, but also faces challenges with negative free cash flow and high leverage. The company's strategy revolves around leveraging its financial strength to support renewable energy projects, aligning with global trends towards sustainable infrastructure.
Founded
2021
Employees
0
CEO
Connor David Teskey
Full Name
Brookfield BRP Holdings (Canada) Inc 4.625 % Notes 2021-Without Fixed Maturity Global Sub
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$6.5B
+10.9%
-2.8%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-19.3M
+91.1%
-127.2%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+16.8%
-70.0%
+95.3%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+13.4%
-27.4%
+191.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-0.3%
+92.0%
-128.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-5.2B
-121.5%
+28.5%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-79.5%
-99.6%
+26.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
777.5%
+111.2%
-3.4%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.57x
-6.6%
+7.3%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Thank you for standing by, and welcome to the First Quarter 2026 Brookfield Renewable Earnings Results and Webcast. [Operator Instructions] As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Connor Teskey. Please go ahead, sir.
Connor Teskey: Thank you, operator. Good morning, everyone, and thank you for joining us for our first quarter 2026 conference call. Before we begin, we would like to remind you that a copy of our news release and investor supplement can be found on our website. We also want to remind you that we may make forward-looking statements on this call. These statements are subject to known and unknown risks, and our future results may differ materially. For more information, you are encouraged to review our regulatory filings available on SEDAR+, EDGAR and on our website. On today's call, we will review our first quarter 2026 performance and discuss what we are seeing today in the broader energy market and what this means for our business. We will then turn the call over to Jehangir Vevaina, our Chief Investment Officer, to discuss our approach to growth through M&A and our recently announced agreement to acquire Boralex. Patrick will then conclude the call with a discussion of our operating results, financial position and funding activities, along with the potential simplification of our structure to a single listed corporate entity. Following our comments, we look forward to taking your questions. We had a very strong start to the year, delivering record financial results, advancing key strategic initiatives, and further strengthening our balance sheet. We generated FFO of $375 million, up 19% year-over-year and 15% on a per unit basis, equating to $0.55 per unit. We deployed our committed $2.2 billion into growth or $550 million net to BEP highlighted by the privatization of Boralex, a leading global renewable platform with a significant operating base and a large and derisked development pipeline. From a development perspective, we brought online 1.8 gigawatts of new capacity in the quarter and contracted 1.7 gigawatts of development projects from our advanced development pipeline. In addition, we continue to scale our capital recycling program selling assets that will generate nearly $3 billion of proceeds or over $800 million net to BEP at returns in line with our targets. This includes the launch of Northview Energy which represents a new and recurring way, we are monetizing our derisked assets in North America to some of the world's largest and most sophisticated private investors. We did all of this while continuing to strengthen our balance sheet, opportunistically executing almost $4 billion of financings and ending the quarter with over $4.7 billion of available liquidity. Now taking a step back and looking at the global energy market today, this past quarter, we saw the disruption with the outbreak of the conflict in the Middle East. First and …
