Cameco reports net earnings of C$89 million in 2022, uranium production up 70%

( Kitco News ) – Cameco (TSX: CCO ; NYSE: CCJ ), one of the largest global producers of uranium fuel, today reported net earnings of C$89 million and adjusted net earnings of C$135 million in 2022.

The company said its annual results are "beginning to reflect the transition of our cost structure back to a tier-one run rate as contemplated by the continued execution of our strategy."

"Our results also reflect the improvement in average realized prices as uranium prices and conversion prices continue to increase catalyzed by geopolitical uncertainty and security of supply concerns," Cameco added.

The company also reported fourth quarter net loss of C$15 million and adjusted net earnings of C$36 million."Fourth quarter results are driven by normal quarterly variations in contract deliveries and the continued execution of our strategy," Cameco said.In its uranium segment, the company delivered over 25 million pounds.Production for 2022 was 10.4 million pounds […]

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