- enCore Energy (EU, Financial) reported a net loss of $0.13 per share for Q1 2025, up from $0.04 in Q1 2024.
- Uranium production cost stood at $36.11 per pound, with 290,000 pounds sold at $62.89 per pound.
- Negative operating cash flow of $7.7 million due to a $12.2 million uranium loan repayment.
enCore Energy Corp. (EU) announced its financial results for the first quarter of 2025, emphasizing its uranium production and sales metrics. The company extracted 130,015 pounds of U3O8 at a cost of $36.11 per pound, showcasing efficient production capabilities. However, the cost of delivered pounds ($62.97) slightly exceeded the average sales price of $62.89 per pound.
The company sold 290,000 pounds of uranium at a robust average price of $62.89 per pound. Despite these strong sales figures, enCore Energy reported a net loss of $0.13 per share, up from $0.04 per share in the first quarter of 2024. This increase in net loss is attributed to heightened exploration activities and a significant $9.0 million mark-to-market loss on marketable securities.
At the quarter's end, enCore Energy had 153,058 pounds of uranium inventory valued at $40.39 per pound, suggesting a strategic positioning for future sales, assuming that market prices remain favorable. The company's financial position showed $29.7 million in cash and equivalents, along with a working capital of $35.7 million. However, the company recorded a negative operating cash flow of $7.7 million, predominantly due to a $12.2 million repayment of a uranium loan.
These results underscore enCore Energy's ongoing efforts to balance operational efficiency with market challenges, as it navigates increased costs against a backdrop of fluctuating market conditions.
