UUUU - Uranium Energy to Report Q3 Earnings: What's in Store? | Benzinga

Uranium Energy (AMEX:UEC) is expected to report year-over-year improvement in both revenues and earnings in its upcoming third-quarter fiscal 2024 results.
The Zacks Consensus Estimate for revenues is pegged at $21 million, indicating 3.9% growth from the year-ago quarter's actual. The consensus estimate for earnings is 1 cent per share, which indicates a solid improvement from a loss of 2 cents per share reported in the third quarter of fiscal 2023.  The estimate has remained unchanged over the past 30 days.

Q2 Performance

In the last reported quarter, Uranium Energy reported declines in both its top and bottom lines. Revenues were $0.12 million, which were down 100% year over year and missed the Zacks Consensus Estimate. Revenues only reflected toll processing services revenues as the company did not sell any of its purchased uranium inventory.  Notably, sales of uranium inventory had resulted in revenues of $47.8 million in the year-ago quarter, while revenues from toll processing services were $0.09 million.
Uranium Energy reported second-quarter adjusted earnings per share of 1 cent, which was in line with the Zacks Consensus Estimate. The bottom line marked a 67% plunge from the earnings per share of 3 cents in the year-ago quarter.
UEC's earnings have matched the consensus estimate in two of the trailing four quarters while surpassing on one occasion and missing in one quarter. The company has delivered an average surprise of 33.3% over the trailing four quarters.

Factors to Note

Uranium Energy is primarily engaged in uranium mining and related activities, including exploration, pre-extraction, extraction and processing of uranium projects located in the United States, Canada and the Republic of Paraguay.  The company has established the existence of mineralized materials for certain uranium projects, including the Palangana Mine, Christensen ...

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