Cameco Q2 FY26 net earnings drop 92% to $25 million; revenue falls 7% to $814 million

• Cameco posted Q2 net earnings attributable to equity holders of $25 million, down 92% year over year; revenue fell 7% to $814 million.
• Adjusted EBITDA (non-IFRS) dropped 42% to $391 million; adjusted net earnings (non-IFRS) slid 75% to $77 million.
• First-half net earnings attributable to equity holders sank 60% to $156 million; adjusted EBITDA (non-IFRS) declined 13% to $899 million.
• Results were lower mainly due to reduced equity earnings from Westinghouse, which posted a Q2 net loss of $10 million versus earnings a year earlier.
• Production outlook stayed unchanged, with 2026 uranium output still seen at 19.5 million-21.5 million pounds (our share) of U3O8.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Cameco Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20260730139928) on July 31, 2026, and is solely responsible for the information contained therein.