Brookfield BRP Holdings (Canada) Inc. operates as a holding company and is a financing subsidiary of Brookfield Renewable Partners L.P., a global leader in renewable power and decarbonization solutions. The company issues perpetual subordinated notes to support Brookfield Renewable's operations and growth. Brookfield Renewable owns and operates a diversified portfolio ...Brookfield BRP Holdings (Canada) Inc. operates as a holding company and is a financing subsidiary of Brookfield Renewable Partners L.P., a global leader in renewable power and decarbonization solutions. The company issues perpetual subordinated notes to support Brookfield Renewable's operations and growth. Brookfield Renewable owns and operates a diversified portfolio of hydroelectric, wind, solar, and storage facilities across North America, South America, Europe, and Asia, with an operating capacity of approximately 47 GW. The company focuses on delivering sustainable long-term returns to shareholders through a combination of stable cash flows and growth initiatives. Key financial metrics from the latest TTM data show a market cap of ~$10.06 billion, revenue per share of $21.12, and a dividend yield of 4.6%. The company has a strong emphasis on ESG principles and is committed to achieving net-zero emissions by 2050. Leadership includes CEO Connor Teskey, who also serves as CEO of Brookfield Asset Management's energy division. The company is headquartered in Toronto, Canada, and employs around 5,870 full-time staff. Brookfield Renewable Partners was established in 2011 and renamed in 2016, with roots tracing back to 1899. As a financing entity, BEPI plays a crucial role in Brookfield's capital structure, providing access to capital markets for long-term funding. The parent company, Brookfield Asset Management, holds approximately 45% ownership in the partnership. The company's business model involves acquiring, developing, and operating renewable energy assets under long-term contracts, ensuring stable revenue streams. Its financial performance shows a gross profit margin of 24.4%, but negative free cash flow due to significant capital expenditures in development projects. The company also benefits from diversification across geographies and technologies, reducing operational risks. With a strong commitment to innovation and sustainability, Brookfield Renewable aims to be a key player in the global energy transition, investing in next-generation technologies and expanding its asset base. Overall, BEPI serves as a vital link for Brookfield Renewable to finance its ambitious growth plans and deliver value to stakeholders.
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%
+9.4%
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%
+10.6%
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%
+54.0%
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%
+84.6%
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%
+18.3%
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%
+34.6%
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: Good day, and thank you for standing by. Welcome to the Brookfield Renewable Second Quarter 2026 Results Conference Call and Webcast. At this time, participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press *11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press *11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Connor David Teskey, Chief Executive Officer. Please go ahead.
Connor David Teskey: Thank you, operator. Good morning, everyone. And thank you for joining us for our second 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 results for the second quarter and discuss how we continue to enhance our leadership position to capitalize on the significant growth opportunities in the current environment. And continue creating long-term value for our investors. We will then turn the call over to Jehangir Vevaina, our Chief Investment Officer, who will discuss how we are further enhancing our capabilities in battery storage, and strengthening our position as the energy partner of choice to both corporates and sovereigns. Patrick will conclude the call with a review of our operating and financial results, our balance sheet and funding activities, and an update on our recently announced plan to simplify our structure into a single listed corporate entity. Following our comments, we look forward to taking your questions. Turning to our results. In the first half of the year, we delivered record financial results, robust capital deployment, and the highest levels of development and asset recycling in our history. We also further strengthened our balance sheet, ending the quarter with strong liquidity and positioning the business to capitalize on the growing opportunity set in the current market. In the second quarter, we delivered FFO of $421 million, up 13% year over year. Or $0.62 per unit, up 11% on a per-unit basis. In the last 12 months, we delivered FFO of $1.444 billion, or $2.14 per unit. Up 14% and 11%, respectively, compared to the prior-year period. We continue to scale our development activities, commissioning 1.3 gigawatts of new capacity in the quarter and advancing our contracting initiatives. Signing power purchase agreements for 2.6 gigawatts from our advanced development pipeline. We …