NYSE$CCJ
Cameco Corp · Q4 2024 earnings
Q4 2024 earnings · · Before market open · Investor relations
Briefing
Cameco reported strong Q4 2024 results, driven by uranium and Westinghouse segment performance.
Cameco achieved solid financial performance in Q4 2024, with strong contributions from its uranium and Westinghouse segments. The company reported an increase in revenue and adjusted earnings, reflecting improved market conditions. Cash flow generation remained strong, and the company maintained a disciplined approach to contracting and financial management.
- Q4 2024 revenue increased by 40% year-over-year to CAD 1.183 billion.
- Net earnings for Q4 2024 reached CAD 135 million, up from CAD 80 million in Q4 2023.
- Adjusted EPS improved to CAD 0.36 from CAD 0.25 in the prior-year quarter.
- Record uranium production at McArthur River/Key Lake, with 20.3 million pounds packaged in 2024.
Headline financials
Revenue & EPS history
Cameco · Revenue · Quarterly
$822M
Revenue by segment
Cameco · $614M total across 2 segments · Q3 2025
- Uranium$523M—85.2%
- Fuel Services$91M—14.8%
Forward guidance
Cameco expects continued strong financial performance in 2025, driven by uranium market conditions and Westinghouse segment growth. The company plans to maintain disciplined capital allocation and operational flexibility to support long-term strategic growth.
Tailwinds
- Expected strong uranium demand supporting pricing and contracting.
- Westinghouse segment positioned for long-term growth with new projects.
- Strong balance sheet with significant cash reserves and liquidity.
- Ongoing operational optimizations expected to enhance efficiency.
- Increased dividend reflecting confidence in future earnings.
Headwinds
- Potential supply chain disruptions impacting uranium production.
- Macroeconomic uncertainty affecting investment and contracting decisions.
- Regulatory risks related to nuclear fuel and uranium mining operations.
- Higher production costs could pressure margins in 2025.
- Uncertainty regarding future production levels at JV Inkai due to supply chain issues.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
+0.4%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+3.3%
Avg return
30 days after
55%
34 / 62 earnings
Positive
+12.9%
Q4 2021
Best reaction
-14.4%
Q2 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -3.0% | +0.1% | -7.3% | |
| Q3 2025 | -1.8% | -2.8% | -5.9% | |
| Q2 2025 | -3.7% | +0.2% | +13.7% | |
| Q1 2025 | +0.8% | +6.6% | +29.6% | |
| Q4 2024 | -0.0% | -6.4% | -4.3% | |
| Q2 2024 | -7.4% | -16.7% | -7.8% | |
| Q4 2023 | -8.3% | -12.9% | -14.2% | |
| Q3 2023 | +8.4% | +10.8% | +21.3% | |
| Q2 2023 | -2.4% | -1.8% | +8.1% | |
| Q1 2023 | +4.2% | +0.8% | +2.8% | |
| Q4 2022 | +6.9% | +6.7% | -6.8% | |
| Q3 2022 | -3.0% | -5.4% | -3.1% | |
| Q2 2022 | +10.5% | +7.4% | +15.3% | |
| Q1 2022 | -9.6% | -18.4% | -5.2% | |
| Q4 2021 | +12.9% | +9.5% | +36.6% | |
| Q3 2021 | -1.3% | +6.8% | -5.5% | |
| Q2 2021 | +5.9% | +2.3% | +4.5% | |
| Q1 2021 | +8.2% | +6.0% | +18.0% | |
| Q4 2020 | +3.4% | +4.2% | +13.9% | |
| Q3 2020 | -4.8% | -2.1% | +13.9% | |
| Q2 2020 | -14.4% | -14.6% | -2.4% | |
| Q1 2020 | +9.2% | +6.6% | +9.1% | |
| Q4 2019 | +1.7% | +9.8% | -2.0% | |
| Q3 2019 | +12.0% | +6.9% | +3.6% | |
| Q2 2019 | -7.2% | -7.5% | -15.2% | |
| Q1 2019 | -4.2% | -2.5% | -8.6% | |
| Q4 2018 | -2.9% | -4.2% | -8.1% | |
| Q3 2018 | +9.4% | +12.8% | +7.4% | |
| Q2 2018 | +3.9% | -2.1% | -5.2% | |
| Q1 2018 | +4.6% | +13.2% | +5.5% | |
| Q4 2017 | -1.7% | +4.3% | +2.7% | |
| Q3 2017 | -8.7% | -4.9% | +12.0% | |
| Q2 2017 | +4.5% | +1.7% | -1.2% | |
| Q1 2017 | -7.9% | -6.8% | -9.2% | |
| Q4 2016 | +2.2% | +13.5% | +1.6% | |
| Q3 2016 | +10.3% | +10.6% | +26.3% | |
| Q2 2016 | -10.1% | -11.1% | -12.6% | |
| Q1 2016 | -5.9% | — | — | |
| Q4 2015 | -7.5% | — | — | |
| Q3 2015 | -2.7% | — | — | |
| Q2 2015 | +0.8% | — | — | |
| Q1 2015 | +0.6% | — | — | |
| Q4 2014 | +0.7% | — | — | |
| Q3 2014 | -2.1% | — | — | |
| Q2 2014 | +5.6% | — | — | |
| Q1 2014 | -2.0% | — | — | |
| Q4 2013 | -2.0% | — | — | |
| Q3 2013 | +4.6% | — | — | |
| Q2 2013 | +3.8% | — | — | |
| Q1 2013 | +0.4% | — | — | |
| Q4 2012 | +0.4% | — | — | |
| Q3 2012 | +3.0% | — | — | |
| Q2 2012 | -1.3% | — | — | |
| Q1 2012 | +5.9% | — | — | |
| Q4 2011 | +0.2% | — | — | |
| Q3 2011 | +0.9% | — | — | |
| Q2 2011 | +1.2% | — | — | |
| Q1 2011 | +1.7% | — | — | |
| Q4 2010 | +1.7% | — | — | |
| Q3 2010 | -3.5% | — | — | |
| Q2 2010 | +5.6% | — | — | |
| Q1 2010 | -2.7% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro