Energy Fuels (UUUU) to Report Q2 Earnings: What's in Store?

Energy Fuels Inc. UUUU is expected to report second-quarter 2021 results soon.

Q2 Estimates

The Zacks Consensus Estimate for second-quarter revenues is currently pegged at $5.5 million, indicating growth of 1,270% from the prior-year quarter. The consensus mark for bottom line is pegged at a loss of 4 cents, compared with a loss of 8 cents in the year-ago quarter. The estimates have remained stable over the past 30 days.

Q1 Results

In the last reported quarter, Energy Fuels reported revenues of $0.38 million, which declined 46% year over year and missed the Zacks Consensus Estimate of $0.55 million. The company reported first-quarter 2021 loss per share of 8 cents, wider than the Zacks Consensus Estimate of a loss per share of 5 cents. The uranium mining company had reported a loss of 5 cents in the prior-year quarter.

The company has a trailing four-quarter negative earnings surprise of 40%, on average.

Energy Fuels Inc Price and EPS Surprise

Energy Fuels Inc Price and EPS SurpriseEnergy Fuels Inc Price and EPS Surprise
Energy Fuels Inc Price and EPS Surprise

Energy Fuels Inc price-eps-surprise | Energy Fuels Inc Quote

Factors to Note

Energy Fuels has strategically opted not to enter into any uranium sales commitments in 2021. Consequently, its uranium production is expected to be added to existing inventories, which were anticipated to total between 720,000 pounds and 750,000 pounds at 2021-end. The company intends to hold this inventory until prices for uranium go up significantly. It is also holding on to its vanadium until spot prices spike from current levels.
It expects to sell finished vanadium product when justified into the metallurgical industry, as well as other markets that demand a higher-purity product, including the aerospace, chemical, and potentially the vanadium battery industries.

Meanwhile, the company has been pursuing new sources of revenues, including its emerging REE business, and new sources of alternate feed materials and new fee processing opportunities at the White Mesa Mill that can be processed under existing market conditions (i.e., without reliance on current uranium sales prices).

In response to the proposed establishment of the Uranium Reserve, the company is evaluating activities aimed toward increasing uranium production at all or some of its production facilities, including the currently operating White Mesa Mill, as well as the Nichols Ranch ISR Facility, the Alta Mesa ISR Facility, La Sal Complex and Pinyon Plain Mine. During 2021, the company expects to recover uranium at the White Mesa Mill from pond-returns and alternate feed materials. The company anticipates producing mixed REE carbonate from natural monazite ore during 2021, subject to successful ramp-up. Energy Fuel’s revenues for the quarter under review are likely to reflect fees for ore received from a third-party uranium mine.

On Oct 6, 2020, the company announced that it has repaid all of its debt — achieving debt free status for the first time since 2012. This is likely to have reduced interest expenses and thereby, might have favored margins in the second quarter. The company’s ongoing efforts to lower costs are likely to get reflected in the to-be-reported quarter’s bottom line.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Energy Fuels this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: The Earnings ESP for Energy Fuels is 0.00%.

Zacks Rank: The company currently carries a Zacks Rank #3.

Price Performance

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Energy Fuel’s shares have soared 162.1% in the past year compared with the industry’s rally of 79.1%.

Stocks Poised to Beat Estimates

Here are some companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:

Olympic Steel, Inc. ZEUS has an Earnings ESP of +31.84% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

GrowGeneration Corp GRWG currently has a Zacks Rank #2 and an Earnings ESP of +31.58%.

Eastman Chemical Company EMN has an Earnings ESP of +0.90% and a Zacks Rank of 3 currently.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Energy Fuels Inc (UUUU) : Free Stock Analysis Report

Eastman Chemical Company (EMN) : Free Stock Analysis Report

Olympic Steel, Inc. (ZEUS) : Free Stock Analysis Report

GrowGeneration Corp. (GRWG) : Free Stock Analysis Report

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By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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