Cameco reports Q1 adjusted EPS 16c, consensus 19c

Reports Q1 revenue $789M, consensus $806.82M. “Cameco’s (CCJ) Q1 performance across our uranium, fuel services, and Westinghouse segments was robust, reflecting our disciplined strategic alignment and continued positive momentum across the nuclear energy market,” said Tim Gitzel, CEO. “…The market has faced challenges to Central Asian supply, the unexpected remapping of global geopolitics and flows across the nuclear fuel cycle, and now, the unstable and unpredictable global economic environment and trade turmoil that is impacting every country. Through it all, nuclear energy has maintained strong, if not growing support based on its key attributes that back energy security, national security, and climate security. Operationally, Q1 production in both our uranium and fuel services segments was strong and on track with our 2025 outlook, which is unchanged…Our strategy continues to demonstrate the benefits of aligning our operational, marketing, and financially-focused actions and decisions. Utilities are adjusting their global supply chains to mitigate risks and ensure reliable supply, and as proven, reliable suppliers operating across the nuclear fuel and reactor life cycles, with licensed and permitted operations in geopolitically stable jurisdictions, Cameco and Westinghouse are in a unique position to benefit from the market transition and continue to create value for our owners.”