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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.