Uranium Energy fiscal 2026 results showed fourth-quarter production rising 157% to 82,744 pounds as the company ramped two U.S. mines and reduced its total cost per pound by 33%.
Uranium Energy Corp (NYSE American: UEC) reported a quarterly total cash cost of $30.01 per pound and a total cost of $36.54. Full-year production reached 229,294 pounds, with a total cash cost of $34.24 and total cost of $39.94 per pound.
Uranium Energy Fiscal 2026 Results Reflect a Two-Mine Ramp
Christensen Ranch produced 65,392 pounds in the fourth quarter, twice the prior quarter’s level, according to the company’s official annual-results announcement. Its total cost fell to $35.63 per pound from $54.61.
Burke Hollow contributed 17,352 pounds in its first full quarter of operation at a total cost of $39.93 per pound. The initial phase used only a small section of the first production area, allowing the company to establish operating parameters before expanding the wellfield.
Uranium Energy is also installing monitoring, injection and recovery wells at Ludeman, its next planned in-situ recovery mine. Development drilling continued at Sweetwater, while 36,000 meters of drilling was completed at the Roughrider project in Canada.
Inventory Sales Strengthen an Unlevered Balance Sheet
The company sold 400,000 pounds from inventory at a weighted average price of $93.13 per pound, producing $37.3 million of revenue and $16.9 million of gross profit for the year.
It ended the fiscal year with $753 million of liquid assets, including $495 million of cash, and no debt. The balance sheet also included 1.256 million pounds of uranium inventory valued by the company at $109 million using then-current market prices.
The inventory value is sensitive to uranium prices and is separate from material still held at processing plants. Future sales volumes and realized prices will determine how quickly the larger production base translates into recurring revenue.
Management is preparing a U.S. refining and conversion project with engineering partner Fluor and expects a Class IV cost estimate by mid-2027. That estimate, together with the Burke Hollow ramp, will be the next measurable test of the company’s plan to build an integrated domestic uranium supply chain.
