Cameco Corporation (TSX:CCO) on Wednesday reported better than expected revenue for its third quarter 2025, even as its earnings for the period fell short.
The uranium miner generated revenue for the quarter of $615 million, surpassing the analyst consensus estimate of $568 million.
Its adjusted earnings per share for the period of $0.07, though, was significantly below the $0.23 Wall Street forecast.
“Our year-to-date financial results demonstrate strong performance across our uranium, fuel services, and Westinghouse segments, underscoring the resilience of our strategy in a dynamic market that is being continually reinforced by tremendous positive momentum,” Cameco CEO Tim Gitzel said in a statement.
“Driven by disciplined long-term contracting and management of our supply sources, alongside strategic partnerships that can add significant future value, we are positioned at the forefront of the global nuclear resurgence.”
Cameco also said it will increase its annual dividend to $0.24 per share from $0.16.
In addition, the company lowered its 2025 production forecasts due to reduced output expectations from key uranium mining sites.
Cameco said it now expects to produce 20 million pounds of uranium in 2025 and has reduced its outlook for market purchases for the year to up to one million pounds from three million pounds previously.
Last month, Cameco and Brookfield Asset Management announced a partnership deal with the US government to help build at least $80 billion of new, large-scale domestic nuclear reactors.
NYSE-listed shares of Cameco slipped 1.6% to $95.49 in midday trading on Wednesday.