Cameco Corp (CCJ) to Report Q1 Earnings: What to Expect?
Cameco Corporation CCJ is scheduled to report first-quarter 2022 results on May 5, before the opening bell.
Q1 Estimates
The Zacks Consensus Estimate for the first-quarter bottom line is pegged at a loss of 4 cents per share, indicating an improvement from a loss of 6 cents reported in the prior-year quarter. The estimates have remained stable over the past 30 days.
Q4 Performance
Cameco Corp’s revenues and earnings in the fourth quarter of 2021 both declined year on year. The company has a trailing four-quarter negative earnings surprise 150.6%, on average.
Cameco Corporation Price and EPS Surprise
Cameco Corporation price-eps-surprise | Cameco Corporation Quote
Factors to Note
The company expects its share of production to be up to 11 million pounds in 2022 and it is working toward reducing the impact of any COVID-19 pandemic disruptions and supply chain challenges on the availability of materials, reagents and labor. Uranium prices have gained through the course of the first quarter of 2022 fueled by the civil unrest in Kazakhstan, the leading producer of uranium production, due to soaring gas and energy prices in the nation and the Russia-Ukraine conflict. Average uranium spot prices in the quarter were around $50.01 per pound, up 69% year over year. Increased production and sales volume, and higher year-over-year realized uranium prices are likely to have contributed to the fourth-quarter top line. Also, fuel services revenues in the quarter to be reported are likely to get reflected in the company’s additional sales commitments.
The company has been progressing on its endeavors to lower administration, exploration and operating costs, and capital expenditures. It has been undertaking a number of strategic and prudent initiatives to curtail production, which come with significant costs in the near term. A major portion of these costs comprise care and maintenance related to the production suspensions at its tier-two operations. The company has been carrying out critical automation, digitization and other projects, executing maintenance readiness checks, and attaining sufficient recruitment and training in order to transition McArthur River/Key Lake from care and maintenance to its planned production capacity. Till then, it anticipates incurring operational readiness costs between $15 million and $17 million per month, which will boost its cost of sales. This might have impacted the company’s margins in the to-be-reported quarter.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Cameco Corp this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Cameco Corp is 0.00%.
Zacks Rank: Cameco Corp currently carries a Zacks Rank of 3.
Price Performance
Shares of Cameco Corp have gained 39.5% over the past year, against the industry's decline of 5.9%.
Image Source: Zacks Investment Research
Stocks Poised to Beat Estimates
Here are some stocks which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:
Olympic Steel ZEUS has an Earnings ESP of +6.64% and a Zacks Rank #1. The Zacks Consensus Estimate for the company’s revenues of $548 million for the first quarter of 2022 indicates year-over-year growth of 18.4%.
The Zacks Consensus Estimate for the company’s earnings for the first quarter of 2022 currently stands at $2.26, suggesting year-over-year improvement of 14.7%. ZEUS has a trailing four-quarter earnings surprise of 49.6%, on average.
Cigna CI currently has an Earnings ESP of +6.26% and a Zacks Rank of 2. The Zacks Consensus Estimate for CI’s quarterly revenues stands at $43.6 billion, suggesting year-over-year growth of 6.3%.
The Zacks Consensus Estimate for Cigna’s first fiscal 2022 earnings is pegged at $5.13 per share, suggesting 8.5% growth from the year-ago quarter. CI has a trailing four-quarter earnings surprise of 6%, on average.
Performance Food Group PFGC currently has an Earnings ESP of +10.17% and a Zacks Rank of 2. The Zacks Consensus Estimate for PFGC’s quarterly revenues is pegged at $13.11 billion, which indicates an increase of 9.6% from the prior-year quarter.
The Zacks Consensus Estimate for Performance Food Group’s first-quarter 2022 earnings has been stable in the past 30 days at 5 cents per share. The estimate projects a year-over-year growth of 168%. PFGC has a trailing four-quarter earnings surprise of 1.51%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cigna Corporation (CI) : Free Stock Analysis Report
Cameco Corporation (CCJ) : Free Stock Analysis Report
Olympic Steel, Inc. (ZEUS) : Free Stock Analysis Report
Performance Food Group Company (PFGC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
