Overview
- Adjusted EPS came in at $0.68 versus the $0.45 consensus, while revenue fell 18% year over year to $3.37 billion, below the $4.20 billion estimate.
- GAAP EPS was a loss of $4.30, reflecting a $653 million Santos project charge and a $401 million reduction in NuScale’s value, for a GAAP net loss of $697 million.
- The company raised 2025 adjusted EPS guidance to $2.10–$2.25 from $1.95–$2.15 and lifted adjusted EBITDA guidance to $510–$540 million from $475–$525 million.
- Operating cash flow totaled $286 million and cash and marketable securities reached $2.8 billion; share repurchases were $70 million in the quarter with plans for an additional $800 million through February 2026.
- New awards were $3.3 billion, up 21% year over year with 99% reimbursable, and backlog stood at $28.24 billion, down 10% from a year ago but steady sequentially; shares rose about 7% premarket.