By Robb M. Stewart
Cameco swung to a profit in the latest quarter with a jump in revenue and a higher price for uranium.
The Canadian uranium producer swung to earnings of 70 million Canadian dollars (US$50.7 million), or C$0.16 a share, in the first quarter from a year-earlier loss of C$7 million, or C$0.02 a share.
On an adjusted basis, per-share earnings of C$0.16 fell short of the C$0.19 share mean estimate of analysts polled by FactSet.
Revenue increased 24% to C$789 million, slightly ahead of the C$787.5 million expected by analysts.
Earnings for the company's core uranium operation were down 10%, or 6% lower on an adjusted basis, after the timing of sales dented results for the part-owned Inkai venture with Kazakhstan's government.
Earnings for Cameco's fuel-services segment jumped, due to a rise in sales and average prices, and the Westinghouse Electric business jointly owned with Brookfield Asset Management narrowed its loss for the quarter.
The Saskatoon, Saskatchewan, company's uranium operations produced 6 million pounds, up from 5.8 million in the same period last year, though sales of the fuel were down 5.5% at 6.9 million pounds.
The price of uranium in Canadian dollars was 15% higher than a year earlier, Cameco said.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
May 01, 2025 07:11 ET (11:11 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。