Cameco Corp. CCO-T reported its fourth-quarter profit and revenue rose compared with a year ago, helped by higher uranium sales and prices.
The company says it earned a profit attributable to equity holders of $135-million or 31 cents per diluted share for the quarter ended Dec. 31, up from $80-million or 18 cents per diluted share a year earlier.
On an adjusted basis, Cameco says it earned 36 cents per diluted share in its latest quarter, up from an adjusted profit of 25 cents per diluted share a year earlier.
Revenue for the quarter totalled $1.2-billion, up from $844-million a year earlier.
Uranium production totalled 6.1 million pounds for the quarter, up from 5.7 million a year earlier, while sales volumes amounted to 12.8 million pounds, up from 9.8 million pounds. Cameco’s average realized price for uranium was $80.90 per pound, up from $71.65 a year earlier.
Cameco’s fuel services business saw production of 3.6 million kilograms, down from 3.7 million a year earlier, while fuel services sales held steady at 4.2 million kilograms. Fuel services reported an average realized price of $35.41 per kilogram, up from $32.19 in the fourth quarter of 2023.