Uranium producer Cameco reports lower net earnings in Q2, increases 2023 revenue outlook

Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day’s top stories directly to your inbox. Sign up here! ( Kitco News ) – Cameco (TSX: CCO ) (NYSE: CCJ ), one of the largest global producers of uranium fuel, today reported net earnings of C$14 million and adjusted net losses of C$3 million in Q2 2023, compared to net earnings of C$84 million and adjusted net earnings of C$72 million in Q2 2022.

The company said its Q2 2023 results reflect "normal" quarterly variations in contract deliveries, "which were expected to be lower than in the second quarter of 2022."

"Unrealized losses on our US dollar cash balances, reflected in the C$44 million of reported foreign exchange losses for the quarter, contributed to lower net earnings and adjusted net earnings compared to in the same period of […]

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