Cameco Set to Report Third-Quarter Results on October 30, With Revenue Forecast at $528.3 Million
Key Facts
Cameco scheduled the release of its third-quarter results before markets open on Friday, October 30, 2026, with an earnings call the same day at 8:00 a.m. Eastern time, according to a company statement. Investors are watching for signs of how higher uranium prices are reflected in the company’s results, as analyst estimates point to lower revenue than in the same period last year. Analysts forecast earnings of 23 cents per share and revenue of $528.3 million for the quarter. Revenue estimates implied a decline of about 14% year over year. Actual results had not yet been published in the forecasts report released before Cameco’s scheduled announcement, leaving analyst estimates in focus ahead of the figures.
Realized uranium prices are among the indicators investors are watching in the results. Cameco’s average realized price in the latest prior quarter was $67.79 per pound, according to a Reuters report published via Investing.com. By comparison, the long-term price was $96.50 per pound, its highest level in 19 years, the report said. The gap between the realized and long-term prices puts the timing of market levels flowing through to the company’s sales in focus as investors await the third-quarter results. Earnings-per-share estimates fell 16.8% in the two months before the report and declined a further 11.4% in the week before it, while revenue estimates rose 2.5% over the 60 days through October 29.
Second-quarter results provide an operating backdrop for the figures to come. Cameco said it delivered 7.1 million pounds of U₃O₈ in the second quarter, a volume it said was consistent with lower planned deliveries for 2026 and reflected normal variation between quarters. In the same period, production attributable to the company was 3.9 million pounds, while it purchased 2.8 million pounds of uranium, bringing inventory to 8.7 million pounds on June 30, 2026. The company maintained its forecast for production of between 19.5 million and 21.5 million pounds attributable to its share in 2026, despite temporary, unplanned operating disruptions at Key Lake and McArthur River. Cameco said those disruptions did not change its production range forecast for the year.
On future sales, Cameco said in its second-quarter results announcement that it had contracts for average annual deliveries of more than 28 million pounds of U₃O₈ over the following five years. It added that commitments were above that average in 2026 to 2028, then below it in 2029 and 2030. The contracts provide a timeframe for tracking deliveries as sales volumes vary between quarters, while the annual production forecast remains tied to operating developments at the mines cited by the company. At Key Lake, the annual maintenance shutdown was scheduled to begin during the third quarter of 2026, with new infrastructure to be installed and major existing components repaired, according to Cameco’s statement before the third quarter.
The second-quarter results also included Westinghouse’s contribution to Cameco’s accounts. Westinghouse recorded a net loss of $10 million attributable to Cameco in the second quarter of 2026, compared with earnings of $126 million attributable to its share in the year-earlier quarter, the company said. The shift between the two periods is another point of comparison ahead of the third-quarter results, alongside uranium prices, production and deliveries. On distributions, Cameco’s dividend page shows that the company announced an annual dividend of $0.24 per share for 2025 in November 2025, compared with $0.16 per share for 2024. An announcement of a new annual dividend alongside the third-quarter results was not confirmed in the results-date statement available before the release.
Cameco shares, trading under the ticker CCJ, closed at 83.49 on October 29, 2026, according to EL7 data, which did not specify the currency in the supplied price record. The company’s announced schedule placed the results release before the market opened the following day, followed by a management call at 8:00 a.m. Eastern time. As a result, the market was watching the comparison between actual figures and analyst forecasts, along with any updates to the company’s production and delivery outlook. The call scheduled for that morning also gave management an opportunity to discuss the results after their release.