Cameco Q1 Earnings (2010)

icon1 Posted by webmaster in Cameco, Uranium News, Uranium Stocks, ccj, uranium on 05 11th, 2010 | no responses

Cameco reported Q1 earnings on May 4th.

Some of the highlights include

  • Total Earnings of $142 Million (vs $82 in 2009)
  • The Majority of these gains were due to mark-to-market gains on financial instruments. In 2009 these instruments lost $24 million. In 2010 they gained $31 Million
  • The Adjusted Net Earnings were $111 million. In 2009 they were $103 million
  • CCJ attributes the 8% gain to profits from fuel services business & electricity business
  • On the downside earnings from the core business, Uranium, were down due to lower sales volume and lowered realized prices due to the rise in the Canadian dollar visa-via American currency.

    • CEO Jerry Grandey shared the following quote:

    The long-term fundamentals of the nuclear industry are positive. Cameco is prudently investing today in production growth and new technology to pursue our vision to be a dominant nuclear energy company.

    A week later Cameco shares are trading relatively flat ($24.61 pre-announcement to $24.65 one week prior).

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