Cameco Reports Q3 2026 Results with Increased Uranium Prices Amid Production Declines
Cameco Corporation (CCJ) reported third-quarter 2026 revenue of $619 million, a 1% increase year-over-year. While the company returned to profitability with net earnings of $43 million compared to a slight loss in the prior year, adjusted EBITDA fell 14% to $267 million. The results were heavily influenced by a 20% decrease in uranium production due to planned maintenance at the Key Lake mill and higher unit costs of sales. Despite lower volumes, the company benefited from an 8% increase in average realized uranium prices, reaching $91.76 per pound. Management noted that while inflationary pressures on reagents and production inputs persist, global nuclear fundamentals remain strong due to existing reactor fleets and growing demand from the technology sector. The company has narrowed its full-year 2026 production guidance to a range of 19.5 million to 20.5 million pounds.
Tickers: $CCJ
Topics: fuel services guidance update net earnings revenue growth uranium production
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