Cameco (TSX:CCO,NYSE:CCJ) is scheduled to report earnings Wednesday morning at 9:00am. Tabled below are estimates of what to expect:
|
Exp. EPS |
vs. 2012 |
Exp. Revs |
vs. 2012 |
|
|
Q1’13 |
$0.09 |
$0.33 |
$456 |
$563 |
|
2013 |
$1.17 |
$0.67 |
$2,683 |
$2,321 |
Source: Capital IQ
Clearly, the quarter is expected to be weak relative to the first quarter of last year. Both EPS and revenues are expected to come up short of last year’s mark. However, analysts remain optimistic that 2013 will be an overall better year for the company.
Cameco has guided for a very weak quarter due to lower uranium sales volumes and lower electricity generation from Bruce Power due to scheduled outages. 3 of 4 units at the Bruce were down in Q1.
Though this quarter is expected to be weak, 60% of uranium sales are expected to occur in the second half of the year. The market is likely to seek some assurance that all is on track. In addition, further updates on the much maligned Cigar Lake mine are anticipated. Cigar Lake is expected to finally enter production mid-2013.
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Fool contributor Iain Butler does not own shares in any of the companies mentioned in this report at this time. The Motley Fool has no positions in the stocks mentioned above.
