Overview
- NuScale reported Q3 revenue of $8.24 million versus about $11.2 million expected and posted an adjusted loss of $1.85 per share against a roughly $0.11 loss forecast.
- Shares traded down about 14.8% late Friday morning following the earnings release.
- Goldman Sachs lowered its price target on the stock to $27 from $31 after the results.
- Management said most quarterly revenue came from Fluor’s study related to RoPower’s project in Romania, reflecting the company’s early, pre-operational stage.
- Despite the setback, shares were still up roughly 111% year to date before the drop, and coverage suggested nuclear energy ETFs as a lower-risk way to gain exposure.