Cameco Q3 revenue declines on production shortfall

Cameco

05/11/2025 11:53

Overview

Cameco Q3 revenue declines 15% yr/yr, adjusted net earnings rise 33%

Company reports adjusted EPS of C$0.07, despite net loss for Q3

Strategic partnership with US Government to deploy Westinghouse reactors

Outlook

Cameco expects 2025 uranium production to be up to 20 million pounds

Company reduces 2025 market purchase outlook to up to 1 million pounds

Cameco narrows 2025 uranium sales guidance to 32 to 34 million pounds

Result Drivers

SUPPLY FLEXIBILITY - Cameco adjusted supply levers such as market purchases and product loans to offset production shortfalls due to delays at McArthur River and Key Lake

US PARTNERSHIP - New partnership with US Government and Brookfield to deploy Westinghouse reactors expected to drive future growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
C$615 mln
Q3 Adjusted EPS
C$0.07
Q3 Adjusted Net Income
C$32 mln
Q3 Net Income
-C$32 mln
Q3 Gross Profit
C$170 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$142.00, about 3.8% above its November 4 closing price of C$136.66

The stock recently traded at 69 times the next 12-month earnings vs. a P/E of 55 three months ago

Press Release: ID:nBw1bZdYna

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(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.)