OTTAWA (dpa-AFX) - Cameco Corp. (CCJ, CCO.TO), a Canadian uranium producer, on Thursday reported lower profit for the first nine months of 2026, while revenue remained broadly unchanged from the prior year period.
The company said lower equity earnings from its investment in Westinghouse, reduced sales volumes and higher average unit costs of sales weighed on results.
Further, the firm narrowed its production and sales outlook for the full year.
For the third quarter, Cameco reported net earnings of C$43 million or C$0.10 per share.
Adjusted loss was C$2 million, compared with adjusted net earnings of C$32 million in the same quarter last year.
Adjusted EBITDA declined to C$267 million from C$310 million a year earlier.
Revenue rose to C$619 million from C$615 million in the prior-year quarter.
For the first nine months, net earnings attributable to equity holders fell to C$199 million or C$0.46 per share from C$391 million or C$0.90 per share in the year-ago period.
Adjusted net earnings declined to C$279 million from C$410 million in the previous year period.
Adjusted EBITDA decreased to C$1.17 billion from C$1.34 billion a year earlier.
Revenue was C$2.278 billion, compared with C$2.281 billion last year.
Looking ahead, the company now expects uranium production at 19.5 million to 20.5 million pounds, compared with its previous range of 19.5 million to 21.5 million pounds.
Cameco also narrowed its uranium sales and delivery volume forecast to 29.5 million to 30.5 million pounds from 29 million to 32 million pounds.
Additionally, Cameco's board declared an annual dividend of C$0.24 per common share, payable on December 15, to shareholders of record on November 30, 2026.
In Toronto, the shares closed 0.53 percent lower at C$116.63 on Thursday.
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