Cameco Corporation (CCJ) Announced Q4 2025 Earnings on February 13 2026, Reporting Annual Revenue of about CAD 3.5 Billion

Cameco reported that "annual revenue increased to about CAD 3.5 billion in 2025" and "Adjusted EBITDA was about CAD 1.9 billion." The company noted that "Adjusted net earnings of just under CAD 630 million" represented a significant improvement. Cameco ended the year with a strong balance sheet, holding "approximately CAD 1.2 billion in cash and short-term investments" and "CAD 1 billion in total debt."

Key business updates included the performance of "Tier One assets," with the company stating they "produced 21 million pounds on a consolidated basis in 2025." Management highlighted that "contracting activity increased late in the year" and they ended 2025 with "approximately 230 million pounds committed under long-term contracts." Additionally, the "fuel services segment delivered another strong year," achieving "record UF6 production at Port Hope." The company also discussed a "strategic partnership" with Brookfield, Westinghouse, and the U.S. government "backed by at least $80 billion in planned investment."

Looking ahead to 2026, Cameco expects "to produce between 19.5 million and 21.5 million pounds of uranium" and "deliver between 29 and 32 millions pounds of uranium." The "average realized price" is projected to be "between CAD 85 and CAD 89." For the Westinghouse segment, the outlook for their share of "adjusted EBITDA... is approximately 370million−430 million." Management cautioned that "while we do not expect comparable distributions in 2026" regarding Westinghouse, the outlook "remains strong."