Cameco reported second-quarter net earnings of $25 million, or $0.06 per share. This represents a 92% decline from the $321 million earned during the same period last year. Quarterly revenue fell 7% to $814 million. Management attributed the sharp profit drop to lower equity earnings from its Westinghouse investment and higher unit costs.
Despite the quarterly results, Cameco raised its full-year 2026 revenue guidance to a range of $3.32 billion to $3.57 billion. The company cited stronger long-term uranium prices and increased contracting activity as utilities prioritize supply security. Cameco maintained its annual production guidance, signaling that previous operational disruptions will not impact total yearly output.