Uranium Energy Corp. (AMEX:UEC) reported second-quarter financial results before the market opened on Tuesday. Here’s a look at key highlights from the report.
Uranium Sales And Operational Progress
Uranium Energy reported a loss of 3 cents per share in line with the consensus estimate. In addition, it reported revenue of $20.20 million, beating the consensus estimate of $5.0 million.
The company generated revenue from the sale of 200,000 pounds of U₃O₈ at an average price of $101 per pound, above the quarterly average uranium spot price of $80.76 per pound. The sales produced gross profit of $10.0 million.
During the quarter, the company produced 45,743 pounds of uranium concentrate at a total cost per pound of $44.14 and a cash cost per pound of $39.66.
Uranium Energy also completed construction of the Burke Hollow in-situ recovery uranium project in Texas. The facility is preparing for startup pending final regulatory approval.
The company expanded production capacity at its Christensen Ranch operations in Wyoming with four new header houses completed and three additional header houses under construction.
Uranium Energy ended the quarter with $818 million in liquid assets, including $486 million in cash, and reported no debt.
The company also held 1,456,000 pounds of U₃O₈ inventory valued at $144 million at market prices as of Jan. 31.
Uranium Energy Shares Trade Flat
UEC Price Action: At the time of publication, Uranium Energy shares are trading 1.70% lower at $13.33, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
This article Uranium Energy Q2: Revenue Beats Estimates On Uranium Sales; Shares Hold Steady originally appeared on Benzinga.com
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