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UPDATE 1-Cameco posts bigger-than-expected loss on scrapped Tepco contract
2017年4月28日 / 中午12点25分 / 7 个月前

UPDATE 1-Cameco posts bigger-than-expected loss on scrapped Tepco contract

(Adds Q1 details, estimates)

April 28 (Reuters) - Cameco Corp , the world’s second-biggest uranium producer, posted a bigger-than-expected quarterly loss, partly hurt by the termination of a contract by Tokyo Electric Power Co, operator of Japan’s wrecked Fukushima nuclear plant.

The Canadian company said its results were also hurt by weak uranium prices amid a prolonged glut.

Spot prices of uranium, used to fuel nuclear reactors, dipped to a 13-year low late last year and have rebounded only modestly in 2017.

Cameco said severance costs and a strengthening Canadian dollar also weighed on its first-quarter results.

The net loss attributable to Cameco’s equity holders was C$18 million ($13 million), or 5 Canadian cents per share, in the first quarter ended March 31, compared with a profit of C$78 million, or 20 Canadian cents per share, a year earlier.

Excluding items, the company lost 7 Canadian cents per share, bigger than the average analyst estimate of 1 Canadian cent, according to Thomson Reuters I/B/E/S.

Revenue at the Saskatoon, Saskatchewan-based company fell nearly 4 percent to C$393 million, with declines stemmed by high revenue from its Nukem unit, which is a nuclear fuel broker.

Analysts had expected revenue of C$372.345 million. ($1 = C$1.36) (Reporting by Swetha Gopinath and Muvija M in Bengaluru; Editing by Maju Samuel)

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