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Energy Fuels (UUUU) to Report Q1 Earnings: What's in Store?

·5 min read

Energy Fuels Inc. UUUU is expected to report first-quarter 2021 results on May 7.

Q1 Estimates

The Zacks Consensus Estimate for first-quarter revenues is currently pegged at $0.60 million, indicating growth of 53.8% from the prior-year quarter. The company is anticipated to report a loss per share of 5 cents, flat compared with the year-ago quarter. The estimates have remained stable over the past 30 days.

Q4 Results

In the last reported quarter, Energy Fuels reported revenues of $0.38 million, which declined 46% year over year and also missed the Zacks Consensus Estimate of $0.55 million. The company reported a loss per share of 4 cents, narrower than the year-ago quarter’s loss of 10 cents per share and the Zacks Consensus Estimate of a loss of 5 cents.

The company has a trailing four-quarter negative earnings surprise of 33.3%, on average.

Energy Fuels Inc Price and EPS Surprise

Energy Fuels Inc Price and EPS Surprise
Energy Fuels Inc Price and EPS Surprise

Energy Fuels Inc price-eps-surprise | Energy Fuels Inc Quote

Factors to Note

Energy Fuels has strategically opted not to enter into any uranium sales commitments in 2021 due to lower prices. Consequently, its uranium production is expected to be added to existing inventories, which were anticipated to total between 720,000 pounds and 750,000 pounds at 2021-end. The company intends to hold this inventory until prices for uranium go up significantly. It is also holding on to its vanadium until spot prices spike from current levels. Notably, the company did not sell uranium or vanadium during 2020.

Considering there has been no dramatic improvement in uranium prices in first-quarter 2021, there will not be any exception to this trend. Meanwhile, the company has been pursuing new sources of revenues, including its emerging REE business, as well as new sources of alternate feed materials and new fee processing opportunities at the White Mesa Mill that can be processed under existing market conditions (i.e., without reliance on current uranium sales prices).

In response to the proposed establishment of the Uranium Reserve, the company is evaluating activities aimed toward increasing uranium production at all or some of its production facilities, including the currently operating White Mesa Mill, as well as the Nichols Ranch ISR Facility, the Alta Mesa ISR Facility, La Sal Complex and Pinyon Plain Mine. During 2021, the company expects to recover uranium at the White Mesa Mill from pond-returns and alternate feed materials. The company also expects to produce mixed REE carbonate from natural monazite ore during 2021, subject to successful ramp-up. Energy Fuel’s revenues for the quarter under review are likely to reflect fees for ore received from a third-party uranium mine.

On Oct 6, 2020, the company announced that it has repaid all of its debt — achieving debt free status for the first time since 2012. This is likely to have reduced interest expenses and thereby, might have favored margins in the first quarter. Further, the company’s ongoing efforts to lower costs are likely to get reflected in the to-be-reported quarter’s bottom line.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Energy Fuels 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 is not the case here as you will see below.

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 Energy Fuels is 0.00%.

Zacks Rank: The company currently carries a Zacks Rank #3.

Price Performance

Energy Fuel’s shares have soared 262.9% in the past six months compared with the industry’s rally of 58.2%.

Stocks Poised to Beat Estimates

Here are some companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:

Commercial Metals Company CMC has an Earnings ESP of +5.00% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Hudbay Minerals Inc. HBM has an Earnings ESP of +57.26% and a Zacks Rank of 3 currently.

GrowGeneration Corp GRWG currently has a Zacks Rank #3 and an Earnings ESP of +3.70%.

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