SASKATOON — Cameco Corp. reported a loss in its latest quarter as its revenue climbed more than 10 per cent compared with a year earlier.
The uranium miner says its loss attributable to equity holders amounted to $15 million or four cents per share for the quarter ended Dec. 31 compared with a profit of $11 million or three cents per share in the last three months of 2021.
Revenue for the quarter totalled $524 million, up from $465 million a year earlier.
On an adjusted basis, Cameco says it earned nine cents per share in its latest quarter, up from an adjusted profit of six cents per share a year earlier.
Analysts on average had expected a profit of six cents per share, according to estimates compiled by financial markets data firm Refinitiv.
Cameco CEO Tim Gitzel says demand for nuclear power, supported by growth across the near, medium and long term, is driving the best fundamentals the company has ever seen for the nuclear fuel market.
This report by The Canadian Press was first published Feb. 9, 2023.
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The Canadian Press
