Cameco Corp. (CCJ) Tops Q3 EPS by 5c

Cameco Corp. (NYSE: CCJ) reported Q3 EPS of $0.04, $0.05 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $488 million versus the consensus estimate of $252.94 million.

“Our results and the updates to our outlook reflect the impact of our decision to extend the shutdown at McArthur River/Key Lake, and the tax case ruling that was unequivocally in our favour,” said Tim Gitzel, Cameco’s president and CEO. “As a result of the updates to our outlook, we expect a strong finish in the fourth quarter.

“The uranium market is showing a marked improvement compared to a year ago, in fact relative to the first half of the year, but there is still a long way to go. There are a lot of moving parts in the market right now, largely driven by market access and trade policy issues, and there continues to be a lack of acceptable long-term contracting opportunities.

“We are effectively navigating the current market developments, and are making the decisions necessary to keep the company strong and viable for the long-term.”

For earnings history and earnings-related data on Cameco Corp. (CCJ) click here.

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