Q: I'd like your thoughts on Cameco ($63) earnings.
Thanks, Greg
Thanks, Greg
5i Research Answer:
EPS of 16c missed estimates of 19c; revenue of $789M beat estimates of $740M. EBITDA of $353M beat estimates by 17%. Revenue rose 24%. Production rose 3.4%. Higher uranium sales helped results. The second quarter looks better, with higher contributions expected from the Westinghouse JV, which had a weak Q1. Overall, guidance was unchanged. Things looks decent enough at CCO. There remains some overall uncertainty, but we think this is reflected in the 14% YTD decline. The balance sheet and growth outlook remains good overall.