SASKATOON — Cameco Corp. reported a loss in its latest quarter as it was hit by charges related to its acquisition of a stake in Westinghouse Electric Co., one of the world’s largest nuclear services businesses.
The uranium miner says its loss attributable to equity holders amounted to $7 million or two cents per diluted share for the quarter ended March 31 compared with a profit of $119 million or 27 cents per diluted share a year earlier.
Revenue totalled $634 million, down from $687 million in the same quarter last year.
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On an adjusted basis, Cameco says it earned 13 cents per share in its latest quarter, down from 27 cents per share a year earlier.
Last year, Cameco and Brookfield Renewable Partners closed their deal to buy Westinghouse Electric for US$4.5 billion plus assumed debt.
Under the deal, Brookfield Renewable, with its institutional partners, hold a 51 per cent stake, while Cameco owns 49 per cent.
