NuScale Power Corporation (SMR) experienced a pre-market plunge of 5.63% on Tuesday, following the release of its fourth-quarter 2024 earnings report. The company, a leading developer of small modular nuclear reactors, reported a wider-than-expected loss and missed analyst expectations on several key metrics.
The company reported a quarterly adjusted loss of $0.77 per share, significantly higher than the analyst consensus estimate of a $0.13 loss per share. Revenue rose by 650.5% year-over-year to $34.22 million, but still fell short of the expected $3.10 million.
NuScale Power's disappointing earnings performance can be attributed to several factors. Despite the company's efforts to commercialize its innovative reactor technology, the path to profitability remains challenging. The higher-than-anticipated costs associated with the development and deployment of their small modular reactors likely contributed to the wider-than-expected losses.
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