Cameco Reports Second Quarter Results: Year-to-Date Performance on Track; Production Outlook Unchanged; Strategically Positioned Across the Nuclear Fuel Cycle; Significant Support for Nuclear Energy Reinforces Stronger Long-Term Uranium Prices
Cameco reported Q2 2026 net earnings of $25 million ($0.06 per share), a 92% decrease from the prior year, as lower planned sales volumes and a tough comparison to Westinghouse's 2025 earnings weighed on results. Revenue declined 7% to $814 million, while cash provided by operations dropped 72% to $131 million. Despite the quarterly volatility, the company maintained its full-year production outlook of 19.5 to 21.5 million pounds and noted that average realized uranium prices strengthened 18% year-over-year to US$67.79 per pound.
Key figures
- Eps
- 0.06
- Revenue
- $814 million
- Guidance
- 2026 uranium production outlook unchanged at 19.5-21.5 million pounds (our share); updated outlook for revenue, average realized price and cost of sales reflecting higher UxC spot price
- Revenue Yoy
- -7%
- Total debt
- 1000000000
- Adjusted ebitda
- 391000000
- Cash and equivalents
- 1100000000
- Adjusted net earnings
- 77000000
- Avg realized price usd per lb
- 67.79
- Uranium production our share mlbs
- 3.9
AI analysis
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