Cameco Q2 revenue up 47%, net earnings surge

Cameco

31/07/2025 11:42

Overview

Cameco Q2 revenue rises 47% yr/yr, reflecting strong uranium segment performance

Net earnings for Q2 up significantly, driven by Westinghouse investment

Company's long-term contracting strategy boosts average realized uranium prices

Outlook

Cameco expects uranium average realized price to be C$87 per pound

Cameco sees Westinghouse adjusted EBITDA at $525 mln to $580 mln US

Company maintains 2025 uranium production target of 18 mln pounds

Cameco notes risks to production schedules and skilled labor availability

Result Drivers

URANIUM SALES - Higher sales volumes and average realized prices boosted uranium segment earnings

FUEL SERVICES - Increased sales and decreased costs drove growth in fuel services segment

WESTINGHOUSE INVESTMENT - Revenue from Czech reactor project significantly improved Westinghouse earnings

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
C$877 mln
Q2 Adjusted EPS
C$0.71
Q2 EPS
C$0.74
Q2 Adjusted Net Income
C$308 mln
Q2 Net Income
C$321 mln
Q2 Basic EPS
C$0.74
Q2 Gross Profit
C$257 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the uranium peer group is "buy"

Wall Street's median 12-month price target for Cameco Corp is C$102.00, about 5.4% below its July 30 closing price of C$107.55

The stock recently traded at 58 times the next 12-month earnings vs. a P/E of 37 three months ago

Press Release: ID:nBw3LzNZ2a

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)