and commercial nuclear power awards- 2025 operating cash flow of $479.8 million, free cash flow(1) of $295.3 million- 2025 net income of $329.9 million, adjusted EBITDA(1) of $574.3 million- 2025 diluted GAAP EPS of $3.58, diluted non-GAAP EPS(1) of $4.01- 4Q25 net income of $93.7 million, adjusted EBITDA(1) of $147.5 million- 4Q25 diluted GAAP EPS of $1.01, diluted non-GAAP EPS(1) of $1.08LYNCHBURG, Va.--([BUSINESS WIRE])--BWX Technologies, Inc. (NYSE: BWXT) ("BWXT", "we", "us" or the "Company") reported f ...

Economic Outlook - The economy is showing positive signs with significant increases in durable goods orders, particularly in primary and fabricated metals, machinery, and electronic equipment, indicating a bullish outlook [2][3] - CPI inflation numbers are reported at 2.4%, which is below expectations, further supporting the positive economic sentiment [4] Federal Reserve Insights - The Federal Reserve's recent actions, including injecting $16 billion into the economy, are seen as inflationary, but there is optimism regarding potential rate cuts under the new Fed chair, Walsh [7][10] - Expectations for rate cuts range from 75 to 125 basis points this year, with a probability of a 100 basis point cut being considered likely [10] Consumer Affordability - Lower interest rates are anticipated to improve consumer affordability, particularly in housing and small business sectors, which could lead to job creation and higher wages [12][13] Investment Opportunities - There is a strong belief in the potential for gold and silver prices to increase over the next 12 to 24 months, making them attractive investment options [14] - The energy sector, particularly nuclear energy, is viewed as a long-term investment opportunity due to current volatility and rising electricity costs [15] Market Volatility and Strategy - The market is experiencing significant volatility, driven by emotions such as profit-taking and fear of missing out (FOMO), which affects stock performance [18] - A well-balanced portfolio is recommended to mitigate the impact of market fluctuations on overall gains and losses [16] Risks to Monitor - Key risks include the strength of the US dollar and government debt levels, which could impact the value of precious metals in the near term [20][21]

Niger is ready to return the uranium produced by Orano SA at the Somair mine to the French nuclear company, two months after unidentified attackers who staged an assault on the capital came dangerously close to the stockpile https://t.co/dVlTyL6HjE ...

Core Viewpoint - Cameco reported solid financial and operational results for the fourth quarter and year ended December 31, 2025, highlighting a disciplined execution strategy across its uranium, fuel services, and Westinghouse segments, which positions the company to unlock value from growing demand in a strengthening market [1]. Financial Performance - For the fourth quarter of 2025, Cameco achieved revenue of $1.201 billion, a 1.5% increase from $1.183 billion in 2024. The annual revenue rose to $3.482 billion from $3.136 billion, marking an increase of 11% [1][2]. - Gross profit for the fourth quarter was $273 million, up from $250 million in 2024, while annual gross profit increased to $970 million from $783 million [1][2]. - Net earnings attributable to equity holders for the fourth quarter were $199 million, compared to $135 million in 2024, and for the year, net earnings rose to $590 million from $172 million [1][2]. - Adjusted EBITDA for the fourth quarter was $591 million, a significant increase from $524 million in 2024, and for the year, it rose to $1.929 billion from $1.531 billion [1][2]. Segment Performance - In the uranium segment, revenue for the fourth quarter was $1.027 billion, slightly down from $1.035 billion in 2024, but annual revenue increased to $2.874 billion from $2.677 billion, a 7% rise [2][3]. - The fuel services segment saw a 18% increase in fourth-quarter revenue to $174 million, with annual revenue rising to $562 million from $459 million, a 22% increase [2][3]. - Westinghouse's revenue for the fourth quarter was $958 million, up 14% from $841 million in 2024, and annual revenue increased to $3.458 billion from $2.892 billion, a 20% rise [2][3]. Operational Highlights - Uranium production volume for 2025 was 21 million pounds, exceeding the revised guidance of up to 20 million pounds, with Cigar Lake producing 19.1 million pounds [3]. - The average realized price for uranium increased by 12% to $65.53 per pound in the fourth quarter, and for the year, it rose by 6% to $62.11 per pound [3]. - Fuel services production reached a record of 14 million kgU, with an average realized price increasing by 11% to $39.39 per kgU [3]. Strategic Developments - Cameco entered a strategic partnership with the US Government, Brookfield, and Westinghouse to accelerate the deployment of nuclear reactors, with an expected investment of at least $80 billion [3][6]. - The company maintains a disciplined supply strategy, aligning production with long-term contracts, and holds approximately 230 million pounds of uranium committed under long-term contracts [1][2]. Future Outlook - The company anticipates continued growth in the nuclear fuel cycle driven by electrification, energy security, and decarbonization priorities, positioning Cameco to benefit from the global shift towards nuclear energy [1][3].

Core Insights - NuScale Power Corporation is collaborating with Oak Ridge National Laboratory (ORNL) to utilize an AI-enabled nuclear design framework for optimizing nuclear fuel management across multiple reactors at a single site [1][2] - The collaboration is supported by the U.S. Department of Energy's Gateway for Accelerated Innovation in Nuclear (GAIN) initiative, which provides technical, regulatory, and financial support for advancing nuclear technology [1][2] - The partnership aims to explore options for reducing fuel costs and enhancing fuel efficiency by sharing fuel across up to 12 NuScale Power Modules (NPMs) [1][2] Company Overview - NuScale Power, founded in 2007, is a leading provider of advanced small modular reactor (SMR) technology, aiming to deliver safe, scalable, and reliable carbon-free energy [1] - The NuScale Power Module™ can generate 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross), and can be scaled to meet customer needs with configurations up to 924 MWe [1] - NuScale is the first and only SMR to have its designs certified by the U.S. Nuclear Regulatory Commission, positioning the company to serve diverse customers globally [1] Research and Development - The collaboration with ORNL will leverage AI and machine learning to improve fuel management strategies, potentially leading to significant cost reductions [1] - The study will focus on optimizing fuel management methods that are already established for single reactors, but will apply them to a multi-module architecture [1] - By utilizing a shared fuel pool, NuScale aims to enhance overall plant fuel efficiencies beyond traditional single reactor plants [1]

Core Viewpoint - Virtualware anticipates a return to double-digit organic revenue growth exceeding 30% for fiscal year 2026, with EBITDA margins projected between 20% and 25% [1][6] Financial Performance - In 2025, Virtualware reported consolidated revenues of €4.32 million, reflecting a year-on-year increase of 2.85%, with an EBITDA of €598,509, resulting in a margin of 13.8% [2] - The company's VIROO XRaaS line generated revenues of €1.95 million in 2025, up from €1.73 million in 2024, indicating successful consolidation of its business model [3] - Virtualware achieved record bookings exceeding €8 million in 2025, the highest in its 20-year history, primarily from government and nuclear projects [4] Strategic Initiatives - The company is in the final year of its 2024–2026 Strategic Plan, focusing on growth and consolidation, supported by a strong backlog and recurring subscription revenues [6] - Virtualware's current liquidity position is reported as the strongest in its history, enabling stability in complex environments [5] Industry Outlook - The nuclear sector is highlighted as a growing area for Virtualware, driven by a global renaissance in nuclear energy due to the demand for clean and safe energy [7] - The company has been collaborating with GE Vernova to build virtual nuclear plants and has appointed a former Chief Nuclear Engineer to its advisory board, indicating a strategic focus on the nuclear industry [8] Recent Developments - In 2025, Virtualware completed its uplisting to Euronext Growth Paris and became a certified B Corp, while also launching a new version of its VIROO platform with enhanced functionalities [9]

PSU Banks - PSU banks are trading at attractive valuations of 1-1.5x book value, with earnings growth projected at 12-20% annually, creating reasonable valuations for investors [1][19] - The potential for rerating from 1x to 1.5x book value depends on maintaining growth quality and the ability to monetize real estate through REITs, which can unlock tier I capital without government recapitalization [3][7][19] - Government ownership in PSU banks has decreased below 75%, alleviating concerns about future dilution from government stake sales, which supports the rerating thesis [8][19] Private Sector Banks - Mid-level and larger private sector banks are also seen as having potential for good returns as credit growth returns to healthy levels of around 15%, despite their unimpressive historical performance [2][22] - Investors are encouraged to evaluate both public and private banks based on growth quality, asset quality maintenance, and valuation rather than making reflexive choices [23] Real Estate Monetization - The budget provision allowing CPSEs to monetize owned properties through REITs represents a significant opportunity for PSU banks to convert undervalued assets into tier I capital [4][6][7] - Many PSU banks hold real estate purchased decades ago at historical book prices, and divesting these assets can fund growth without requiring government support [6][7] Structural Growth Themes - The semiconductor and electronics manufacturing services (EMS) sectors are identified as having strong long-term growth prospects, with current capital expenditures expected to translate into revenues by 2027 [20][24] - High-tech manufacturing is anticipated to benefit from budget changes and trade deals, creating opportunities in capital expenditure-oriented plays initially, followed by manufacturing companies [20][24] - The electrical transmission ecosystem is poised for substantial gains due to increased government focus on energy production, necessitating investments in transmission and management infrastructure [14][15][25] Rare Earth Investments - The rare earth sector is highlighted as a strategic area for investment, with tax incentives creating potential for high-yield investments over a five to six-year horizon [17][21][25] - Investors are advised to monitor developments in this sector closely, as it holds strategic importance given global supply chain concerns [25]

Core Insights - Terra Innovatum Global N.V. has achieved a significant milestone by securing all key components for its SOLO reactor unit, differentiating itself in the advanced-reactor sector [1][3][10] - The company has aligned its supply chain for both nuclear-grade and non-nuclear-grade components, reducing manufacturing and construction risks while ensuring readiness for future deployment [2][6] Supply Chain Readiness - The company has completed supply-chain alignment for critical components, which is essential for de-risking manufacturing timelines and ensuring deployment readiness [2][6] - Key nuclear-grade components secured include safety-critical items such as control and shutdown mechanisms, pressure vessels, and reactor cooling tubes [7] - Non-nuclear-grade components secured include systems vital for power conversion and thermal management, ensuring full integration and execution continuity [5][8] Engineering and Design Philosophy - The early alignment of supply chain elements reflects the company's focus on manufacturability, long-lead planning, and regulatory-aware design [4][9] - The disciplined engineering approach and design philosophy are aimed at enhancing execution and leveraging consolidated R&D and past experience [9] Market Position and Future Outlook - As global demand for clean power increases, the company's supply-chain readiness positions it favorably compared to competitors facing unresolved component sourcing issues [10] - The SOLO reactor is anticipated to be available globally by 2028, with a design that allows for rapid deployment and adaptability to future fuel supplies [14] - The reactor is designed for versatile applications, including CO2-free power solutions for data centers, industrial operations, and medical applications [15]

Core Viewpoint - Energy Fuels' stock surged 14% following the Department of Energy's initiative to rebuild the U.S. nuclear fuel supply chain, reaching levels not seen since 2010 [1] Group 1: Company Performance - Energy Fuels leads the U.S. in uranium production and is developing a significant rare earth operation outside China [2] - Despite some gains being given up, Energy Fuels' stock is still up approximately 335% over the last 12 months [3] Group 2: Government Initiative - The Department of Energy aims to establish "Nuclear Lifecycle Innovation Campuses" to manage uranium enrichment, nuclear waste storage, and reprocessing [4] - This initiative represents a shift in Washington's approach to nuclear energy, focusing on reprocessing spent fuel and creating regional hubs for the nuclear lifecycle [6] Group 3: Economic Impact - Energy Secretary Chris Wright emphasized that the new program could drive innovation, economic growth, and create well-paying jobs in the U.S. [5] Group 4: Rare Earth Operations - Energy Fuels announced two significant feasibility studies that could transform its business model, with a Phase 2 rare-earth expansion project at its White Mesa Mill in Utah showing strong economics [7] - The project has a capital cost of $410 million, an estimated net present value of $1.9 billion, and a 33% internal rate of return [7]

Trump energy department loosens rules on nuclear safety https://t.co/9MXiy8n1ST ...