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Research Alert: Cco Q1: Guidance Unchanged After Uranium Sales Volume Grows 13%

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

CCO reported strong Q1 results with adjusted net earnings of CAD203M (CAD0.47/share) vs. CAD70M (CAD0.16/share) in the prior year, beating expectations. Revenue rose 7% to CAD845M while adjusted EBITDA surged 44% to CAD509M, led by 13% higher sales volumes at improved realized prices of US$66.21/lb. The quarter was consistent with guidance and void of surprises, with operational performance supporting our positive thesis on uranium market dynamics. Management maintained 2026 guidance, including uranium production of 19.5M-21.5M lbs and fuel services production of 13M-14M kgU. We believe shares continue trading at premium valuations as energy demand sentiment and sourcing concerns drive investor interest. The five-year contract portfolio supports average annual deliveries exceeding 28M lbs, with higher commitments in 2026-2028 providing visibility. The strong balance sheet with CAD1.1B cash vs. CAD1.0B debt and CAD1.0B undrawn credit facility supports growth initiatives.

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