Cameco reports Q1 profit and revenue up from year ago

A Cameco worker during a media tour of the uranium mine in Cigar Lake.

SASKATOON — Cameco Corp. reported its first-quarter profit and revenue rose compared with a year ago, helped by increased uranium sales and higher prices.

The company says it profit attributable to equity holders amounted to $131 million or 30 cents per diluted share for the quarter ended March 31.

The result was up from a profit of $70 million or 16 cents per diluted share in the first quarter of 2025.

Revenue totalled $845 million, up from $789 million in the same quarter last year.

On an adjusted basis, Cameco says it earned 47 cents per share in its latest quarter, up from an adjusted profit of 16 cents per diluted share a year earlier.

Analysts on average had expected an adjusted profit of 38 cents per share and $856.9 million in revenue, according to LSEG Data & Analytics.

This report by The Canadian Press was first published May 5, 2026.