Cameco (CCJ) shares were up more than 6% in recent Monday premarket activity after the company said late Friday that it expects a roughly $170 million rise in its share of Westinghouse Electric's Q2 and 2025 adjusted earnings before interest, taxes, depreciation, and amortization.
The company said the anticipated increase is related to Westinghouse's involvement in the Dukovany nuclear plant expansion, where it will provide construction and fuel services.
Cameco holds a 49% stake in Westinghouse, while Brookfield Renewable Partners (BEP) owns the remainder, the company said.
Cameco also said the additional earnings are expected to affect the 2025 distribution from Westinghouse to Cameco.
The long-term earnings growth forecast for Westinghouse remains unchanged at 6% to 10% annually, not including the impact of this expected increase, the company added.
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