Overview

* Cameco ( CCJ ) 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 ( CCJ ) expects uranium average realized price to be C$87 per pound

* Cameco ( CCJ ) sees Westinghouse adjusted EBITDA at $525 mln to $580 mln US

* Company maintains 2025 uranium production target of 18 mln pounds

* Cameco ( CCJ ) 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/Mis Actual Consensu

s s

Estimate

Q2 C$877

Revenue mln

Q2 C$0.71

Adjusted

EPS

Q2 EPS C$0.74

Q2 C$308

Adjusted mln

Net

Income

Q2 Net C$321

Income mln

Q2 Basic C$0.74

EPS

Q2 Gross C$257

Profit 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 ( CCJ ) 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:

(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.)