Uranium Energy Logs $20.2M Q2 Revenue, $10M Gross Profit on Uranium Sales
Uranium Energy reported Q2 revenue of $20.2 million from sales of 200,000 pounds of U3O8 at an average of $101 per pound, generating $10 million gross profit while sustaining a 3-cent-per-share loss in line with estimates. The company produced 45,743 pounds at a cash cost of $39.66 per pound, completed construction at its Burke Hollow project and expanded Christensen Ranch capacity, and ended the quarter with $818 million in liquid assets and zero debt.
1. Q2 Financial Results
Uranium Energy reported Q2 revenue of $20.2 million, exceeding the $5.0 million consensus estimate, and recorded a 3-cent-per-share loss in line with analyst projections. Sales of 200,000 pounds of U3O8 at an average price of $101 per pound delivered a gross profit of $10 million.
2. Production and Cost Metrics
The company produced 45,743 pounds of uranium concentrate at a cash cost of $39.66 per pound and a total cost of $44.14 per pound, well below the quarterly average uranium spot price of $80.76 per pound, underscoring operational efficiency.
3. Project Construction Progress
Construction of the Burke Hollow in-situ recovery project in Texas was completed and is preparing for startup pending final regulatory approval. At Christensen Ranch in Wyoming, four new header houses have been completed and three more are under construction to expand production capacity.
4. Strong Balance Sheet and Inventory
Uranium Energy ended the quarter with $818 million in liquid assets, including $486 million in cash, reported zero debt, and held 1,456,000 pounds of U3O8 inventory valued at $144 million at market prices.