NYSE$BUR

Burford Capital Ltd · Q3 2025 earnings

Q3 2025 earnings · · Before market open

Briefing

enCore Energy narrowed its net loss in Q3 2025 as uranium extraction volumes increased and contract deliveries remained strong.

enCore Energy posted improved financial results in Q3 2025 with increased uranium extraction and deliveries, reduced net loss, and a strong cash position exceeding $100 million. The company continued advancing key projects, including the Dewey Burdock ISR project, now part of the federal FAST-41 program.

  • Net loss per share improved to $(0.03), compared to $(0.09) in Q3 2024
  • Delivered 130,000 pounds of uranium at $68.28 per pound
  • Extracted 227,070 pounds of uranium in Q3 2025, up 11.4% QoQ
  • Ended the quarter with $100.3 million in cash and equivalents

Headline financials

Total Revenue

$69.8M

No prior period
EPS (adj)

-$0.03

No prior period
Capital Expenditures

-$185K

No prior period
Free Cash Flow

-$19.3M

No prior period
Net Income

-$19.2M

No prior period
Operating Income

$24.8M

No prior period
Gross Profit

$69.8M

No prior period
Cash & Equivalents

$678M

No prior period
Total Assets

$6.69B

No prior period

Revenue & EPS history

Burford Capital Ltd · Revenue · Quarterly

$69.8M

Q3 2025
Beat estimate in 1 of 3 quarters(33%)
ActualEstimate

Forward guidance

enCore Energy expects continued production growth and is focused on advancing the Dewey Burdock project with federal support while maintaining strong cash reserves.

Tailwinds

  • Strong Q3 uranium extraction supports future sales
  • Inclusion of Dewey Burdock in FAST-41 expedites permitting
  • Cash balance exceeds $100M, providing operational flexibility
  • No forecasted uranium purchases for 2025
  • Strategic position as a leading domestic uranium producer

Headwinds

  • No revenues reported beyond uranium delivery
  • Development timelines dependent on regulatory approvals
  • Operating income not specified or reported
  • Non-GAAP metrics require reconciliation in future filings
  • Commodity price fluctuations may affect margins

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 5 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

-1.3%

Avg return

Earnings day

-2.2%

Avg return

5 days after

-10.3%

Avg return

30 days after

67%

4 / 6 earnings

Positive

+1.7%

Q2 2025

Best reaction

-11.1%

Q4 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.4%-12.4%
Q4 2025-11.1%-10.8%-56.8%
Q3 2025+0.2%-4.1%+2.7%
Q2 2025+1.7%+8.0%+4.5%
Q1 2025+1.3%+3.2%-3.7%
Q4 2024+0.2%+2.8%+1.8%

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