Cameco reports Q4 adjusted EPS 9c, consensus 6c

Reports Q4 revenue $524M vs. $465M a year ago. "Demand for nuclear power, supported by growth across the near, medium and long term, is driving the best fundamentals we have ever seen for the nuclear fuel market. The growing structural gap has led to supply uncertainty, which was amplified in 2022. As a proven, reliable, independent, commercial supplier of nuclear fuels, Cameco is positioned to benefit from these fundamentals. Our 2022 results, and our guidance for 2023, reflect the transformative year that we have had and the opportunity that remains ahead of us. In 2022, we were successful in contracting 80 million pounds of uranium and 17 million kgU of conversion services, with a record number of contracts signed in a market that has strengthened and is in durable growth mode. Our contracting also allows us to sustainably operate our assets, including tier-one assets that are expected to generate full-cycle value for Cameco. And, in 2022, with the resumption of production at McArthur River and Key Lake, we began the return to a tier-one run rate, which we expect will significantly improve our financial results," said Tim Gitzel, CEO.