#원자력발전 Analysis Reports
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Cameco reported Q2 2026 (quarter ended 2026-06-30) revenue of $573.46 million, below the market consensus of $592.27 million, and adjusted EPS of $0.1268, below the consensus of $0.28. The uranium segment's average realized price was $93.13/lb, up 15% year-over-year, while production (Cameco's share) was 3.9 million lb, down 15% year-over-year. On the same day as its earnings release, the company raised its 2026 consolidated revenue guidance range to $3,320-3,570 million, and Westinghouse (49% owned by Cameco) confidentially submitted a draft Form S-1 to the SEC for an initial public offering on 2026-07-31.
Oklo Inc. is a publicly traded company developing the Aurora powerhouse, a sodium-cooled fast fission small modular reactor (SMR). For the first quarter of 2026 (January–March), it reported no commercial revenue and a net loss of $33.065 million (loss per share of -$0.19). The NRC (Nuclear Regulatory Commission) approved Aurora's Preliminary Design Certification (PDC) topical report on May 6, 2026, and completed a pre-application readiness assessment for a Combined License Application (COLA) for the first commercial Aurora at the Idaho National Laboratory site. The company has entered into non-binding power supply agreements with Switch (12 GW scale, through 2044) and Meta (1.2 GW nuclear campus), among others, but no binding long-term power purchase agreement (PPA) has yet been disclosed. Second-quarter 2026 (ended June 30, 2026) results are scheduled to be announced before market open on August 7, 2026.
NuScale Power is a U.S. developer of small modular reactors (SMR). On 2025-05-29, the U.S. Nuclear Regulatory Commission (NRC) granted Standard Design Approval for its uprated 77MWe (US460) design. In Q1 2026 (as of 2026-03-31), revenue was $0.565 million, sharply down year-over-year, with a net loss of $44.0 million. During 2026, the company raised substantial capital through a $1 billion ATM program and a separate public offering, and Fluor Corporation, formerly its largest shareholder, sold its remaining stake entirely on 2026-04-21, fully divesting its holding.
Talen Energy Corporation (NASDAQ: TLN) is a US independent power producer (IPP) in the PJM region that owns and operates approximately 15.6GW of generation capacity (including 2.2GW of nuclear), with its core asset being a 90% stake in the Susquehanna nuclear plant (2.5GW). It closed the acquisition of the Cornerstone generation assets (approximately 2.4GW) on 2026-06-15, and disclosed on 2026-07-14 that it was awarded 10,180MW at $325 per MW-day in the PJM 2028/2029 capacity auction. On 2026-06-11, it announced a restructuring of its 17-year, up to 1,920MW Susquehanna nuclear power supply agreement with AWS into a front-of-the-meter structure. Q2 2026 results are scheduled for release after market close on 2026-08-05.
CEG is the largest private power generation company in the United States and the largest nuclear power generator, having completed its acquisition of Calpine Corporation on 2026-01-07 to form an integrated nuclear, natural gas, and geothermal portfolio (generating capacity of approximately 55GW) (SEC Form 8-K, 2026-01-07). Q1 results announced on 2026-05-11 showed revenue of USD 11.12B (+63.8% year-over-year) and adjusted EPS of USD 2.74 (+28% versus USD 2.14 in the prior-year period). In the PJM 2028/29 capacity market auction on 2026-07-14, a total of 18,875MW of CEG-affiliated generation, including 15,700MW of nuclear, cleared at USD 325/MW-day (the statutory cap) (SEC Form 8-K). The company has signed multiple long-term nuclear power supply agreements with hyperscalers including Microsoft, Meta, and Walmart.
Centrus Energy Corp focuses primarily on uranium enrichment services (SWU) and HALEU (High-Assay Low-Enriched Uranium) production, recording FY2025 revenue of 448.7 million dollars and net income of 77.8 million dollars. On July 1, 2026, the company finalized a fixed-price contract with the U.S. Department of Energy (DOE) for commercial HALEU production worth up to 1.07 billion dollars including options. Ahead of its Q2 earnings release after market close on August 5, 2026, the Zacks consensus estimates revenue of 143.9 million dollars (-6.8% year-over-year) and diluted EPS of 0.79 dollars. As of July 15, 2026, short interest stood at 25.58% of float, extending an increase for a third consecutive period.
BWX Technologies reported Q2 2026 (announced 2026-08-03) revenue of 901.6 million USD (+18% YoY) and GAAP diluted EPS of 0.97 USD, with Government Operations accounting for 66.7% of revenue and Commercial Operations 33.6%. The same day, the company raised its full-year 2026 revenue outlook to approximately 3.80 billion USD and signed an agreement to divest more than an 80% stake in its medical and stable isotopes businesses to Nordic Capital for up to 800 million USD. As of Q2 2026, the backlog stood at 8.4 billion USD, up 40% year-over-year. The closing price was 169.9 USD as of 2026-08-07, up +1.92% from the prior day (166.7 USD).
Standard Nuclear, Inc. (NYSE: STDN), an advanced TRISO nuclear fuel manufacturer headquartered in Oak Ridge, Tennessee, completed its initial public offering (IPO) on 2026-07-16 at $15.00 per share, raising approximately $150 million. On 2026-08-14, the company disclosed via SEC Form 8-K the appointment of Seth Cohen, former Chief Counsel for Nuclear Policy at the U.S. Department of Energy (DOE), as an independent director (effective 2026-08-12), expanding the board to five members. On the same date, the closing price rose +10.09% from the previous day to $13.31, with trading volume of 1,229,104 shares — approximately 1.20x the recent 20-day average volume (1,021,549 shares). As of 2026-03-31, the company disclosed a contracted backlog of up to $245 million and a qualified pipeline of approximately $986 million (S-1).
Southern Company is a utility holding company that supplies electricity and gas across the southeastern United States, including Georgia, Alabama, and Mississippi, and posted second-quarter 2026 adjusted EPS of $1.13 (up $0.21 year-over-year). On July 22, 2026, Georgia Power signed a 25-year, 3.2GW power supply agreement with OpenAI, and data-center-related electricity usage rose 55% year-over-year. In early August 2026, the company issued a total of $2.731 billion in convertible preferred notes, and its credit ratings were upgraded to Moody's Baa1 and S&P BBB+. The company raised its April 2026 quarterly dividend to $0.76 per share (annualized $3.04), extending its streak of dividend increases to 25 consecutive years.
Vistra Corp. is a Texas-based integrated power generation and retail electricity company that closed at $148.19 as of 2026-07-31 (-0.29% vs. the previous day). Q1 2026 adjusted EBITDA was $1.5 billion, up year-over-year, and net income turned positive at $1.03 billion. S&P and Fitch upgraded Vistra's credit rating to investment grade (BBB-) on 2025-12-02 and 2026-03-17, respectively. In the PJM 2028/2029 capacity market auction on 2026-07-14, Vistra secured approximately 10,566 MW at cap-level pricing (approximately $333.44/MW-day).
Dominion Energy is a regulated electric and gas utility serving Virginia, North Carolina, and South Carolina. In Q2 2026 it posted adjusted operating EPS of $0.79 (above consensus of $0.75) and revenue of $4.48 billion, reaffirming its 2026 annual guidance of $3.45-$3.69 per share (2026-07-31 earnings release). On 2026-05-18 it agreed to an all-stock merger with NextEra Energy valued at $67.3 billion, filed for regulatory approval with three state utility commissions, FERC, and the NRC on 2026-07-15, and on 2026-08-06 Virginia's governor announced direct intervention in the proceeding. The Coastal Virginia Offshore Wind project was approximately 81% complete as of 2026-08-03, with total project cost raised to $11.7 billion and final completion delayed to late 2027. On 2026-08-05 the Virginia SCC ordered development of a rate structure to allocate transmission infrastructure costs to large-load users such as data centers.
GE Vernova reported Q2 2026 (announced 2026-07-22) revenue of $11.1 billion (+21.9% YoY), adjusted EPS of $2.47, and adjusted EBITDA margin of 11.3% (vs. 8.5% in the year-ago period). Orders surged to $24.2 billion (organic +88% YoY), and total backlog reached $176.0 billion (+$13.0 billion from the prior quarter). The company raised its FY2026 revenue guidance to $45.5–46.5 billion and its free cash flow guidance to $11.5–12.5 billion (SEC 8-K, 2026-07-22). Meanwhile, the Wind segment continued to post losses with an EBITDA margin of -13.6%, and orders fell 40% YoY to $1.249 billion.