Cameco Profit Beats Estimates After Uranium Sales Increase

Cameco Corp., the world’s largest uranium producer, reported first-quarter profit rose 45 percent, beating analysts’ estimates as sales of the nuclear-reactor fuel climbed.

Net income increased to C$132 million ($134 million), or 33 cents a share, from C$91 million, or 23 cents, a year earlier, the Saskatoon, Saskatchewan-based company said today in a statement. Excluding a loss from contracts used to lock in commodity prices, per-share profit was 31 cents, topping the 25-cent average of 10 estimates compiled by Bloomberg.