Uranium Energy UEC reported first-quarter fiscal 2025 adjusted loss per share of 3 cents, which missed the Zacks Consensus Estimate of a loss of 1 cent per share. UEC had reported an adjusted loss of 1 cent per share in the year-ago quarter.
Including one-time items, Uranium Energy reported a loss of 5 cents per share against earnings of 1 cent per share in the year-ago quarter.
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Uranium Energy Corp. Price, Consensus and EPS Surprise
Uranium Energy Corp. price-consensus-eps-surprise-chart | Uranium Energy Corp. Quote
UEC Revenues Surge on Uranium Sales Amid Higher Prices
Uranium Energy reported revenues of $17.1 million, which were in line with the Zacks Consensus Estimate. The top-line figure was way higher than the year-ago quarter’s revenues of $0.1 million as the company sold uranium to capitalize on the higher prices in the first quarter of fiscal 2025s.
UEC sold 210,000 pounds of uranium at $81.37 per pound in the first quarter of 2025. Revenues from toll processing services were nil .
In the year-ago quarter, UEC had not sold any of its uranium inventory. The company had reported revenues of $0.1 million, which fully reflected revenues from toll processing services.
As of Oct. 31, 2024, UEC had 1,256, 000 pounds of purchased uranium concentrate inventory. As of the same date, the company had no uranium supply or off-take agreements in place. Uranium Energy stated that future sales of uranium are expected to take place through the uranium spot market.
Higher Operating Expenses Hurt UEC’s Margins
The total cost of sales and services was $10.8 million in the fiscal first quarter compared with $0.09 million in the first quarter of fiscal 2024. Gross profit was $6.25 million compared with $0.02 million in the year-ago quarter.
Mineral property expenditures soared 138% to around $13.5 million from $5.7 million in the first quarter of fiscal 2024. General and administrative expenses were $5.3 million, up 2.7% year over year. Total operating expenses surged 71% year over year to $19.5 million.
Uranium Energy reported an operating loss of $13.2 million compared with an operating loss of $11.4 million in the year-ago quarter.
Uranium Energy’s Cash Position at Q125 End
Uranium Energy used $11.5 million of cash in operating activities in the first quarter against an outflow of $46 million in the year-ago quarter.
The company had $190.6 million of cash and cash equivalents, including restricted cash, as of Oct. 31, higher than $87.5 million as of July 31, 2024.
Other Significant Updates for UEC in Q125
Uranium Energy announced that it had restarted operations and started ramp-up at Christensen Ranch In-Situ Recovery Mine. The transportation of uranium-loaded resin has begun from the Christensen Ranch Satellite Plant to the Irigaray Central Processing Plant. Dried and drummed concentrate production is expected at the plant in early 2025.
Uranium Energy has also expanded the annual production capacity at the Irigaray Plant to 4 million pounds. The company has initiated the construction of the Burke Hollow Ion Exchange Facility and accomplished additional infrastructure advancements at the project, including the first production area.
In September, UEC inked a deal with Rio Tinto RIO to acquire a portfolio of uranium mining projects in Wyoming. This includes Rio Tinto's licensed Sweetwater Plant and mining projects with approximately 175 million pounds of historic resources.
On completion, the acquisition will create UEC's third hub-and-spoke In-Situ Recovery production platform in the United States.
UEC Stock’s Price Performance & Zacks Rank
Uranium Energy’s shares have gained 26% in the past year against the industry’s 5.7% decline.
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UEC currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UEC’s Peer Performances in Their Last Earnings
Cameco CCJ reported revenues of $528 million (CAD 721 million) in the third quarter of 2024 (ended Sept. 30, 2024), which were up 23% year over year but fell short of the Zacks Consensus Estimate of $551 million. The company incurred a loss of 1 cent per share , which missed the Zacks Consensus Estimate of earnings of 26 cents. CCJ had reported earnings of 24 cents in the year-ago quarter.
Cameco produced 4.3 million pounds of uranium in the July-September period, 43% higher than the year-ago quarter. It sold 7.3 million pounds of uranium, up 4% year over year compared with 7 million pounds in the third quarter of 2023. The average realized uranium price rose 14% year over year to $60.18 per pound. Higher sales volumes and prices led to a 23% improvement in uranium revenues.
Energy Fuels UUUU incurred a loss of 7 cents per share in the third quarter of 2024 (ended Sept. 30, 2024), which missed the Zacks Consensus Estimate of a loss of 5 cents per share. Energy Fuels had reported a loss of 2 cents in the year-ago quarter.
Energy Fuels’ revenues plunged 63% year over year to $4.05 million owing to lower uranium sales. The top-line figure fell short of the Zacks Consensus Estimate of $5.1 million. UUUU sold 50,000 pounds of uranium concentrate for $80.00 per pound on the spot market. The company had sold 180,000 pounds to a major U.S. nuclear utility in the third quarter of 2023.
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