Cameco's earnings miss tied to Westinghouse stake ahead of potential IPO

Earnings

โดย The Motley Fool·

Summary · why it matters

Cameco reported second-quarter adjusted earnings per share of CA$0.18, missing the analyst consensus of CA$0.36, while revenue fell 7%. The miss was almost entirely due to a CA$10 million loss from its 49% stake in Westinghouse Electric, which it co-owns with Brookfield Renewable, compared with CA$126 million in equity earnings a year earlier. Westinghouse's earnings were lower because of lumpiness in its business, but its value has risen to an estimated CA$10.8 billion, according to Desjardins Securities, and its owners are preparing an IPO that could unlock significant value for Cameco.

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