NuScale Power (NYSE:SMR) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• NuScale Power missed Q1 estimates, reporting a loss of $0.14 per share versus the expected $0.11 loss and revenue of just $0.57 million versus the $7.0 million forecast. Revenue also plunged 95.8% from a year earlier, underscoring ongoing commercialization challenges.
• The company highlighted progress on its small modular reactor strategy, including NRC standard design approval for its 50 MW and 77 MW modules and a fuel partnership with Framatome that avoids HALEU supply issues. Management also said production and supplier diversification efforts are advancing.
• Liquidity remains strong, with about $1.0 billion at March 31 and more than $1.2 billion by early May, giving NuScale room to fund manufacturing and development. However, key revenue-driving deals such as the ENTRA1/TVA agreements and RoPower financing are still unresolved.

NuScale Power (NYSE:SMR - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03), FiscalAI reports. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 56.54%. The company had revenue of $0.57 million for the quarter, compared to analyst estimates of $7.00 million. NuScale Power's revenue was down 95.8% compared to the same quarter last year.

Here are the key takeaways from NuScale Power's conference call:

• NuScale holds a clear regulatory advantage as the only SMR vendor with NRC standard design approval under 10 CFR Part 52 for its 50 MW and 77 MW modules, which the company says materially de-risks licensing and accelerates customer referenceability.
• The company runs on proven low-enriched uranium (LEU) and has a fuel partnership with Framatome, avoiding HALEU supply constraints that affect many advanced-reactor competitors.
• NuScale reports tangible supply‑chain and factory fabrication progress — Doosan production is active, a multi-sourcing strategy and a recent supplier working group were convened to reduce single‑source risks and increase schedule confidence.
• Strong liquidity provides runway for commercialization, with approximately $1.0 billion at March 31, 2026 and over $1.2 billion by early May, which management says supports continued supply‑chain and manufacturing readiness.
• Commercial deployment hinges on external milestones — definitive PPA/OEM agreements with ENTRA1/TVA and pre‑EPC financing for RoPower could drive meaningful revenue, but those financings and contracts remain contingent and unresolved.

NuScale Power Trading Down 0.5%

Shares of SMR traded down $0.07 during mid-day trading on Friday, reaching $12.52. The company's stock had a trading volume of 37,920,430 shares, compared to its average volume of 39,007,288. NuScale Power has a 1-year low of $8.85 and a 1-year high of $57.42. The stock has a market cap of $4.23 billion, a P/E ratio of -4.29 and a beta of 2.24. The business has a 50-day simple moving average of $11.63 and a two-hundred day simple moving average of $18.11.

Key Stories Impacting NuScale Power

Here are the key news stories impacting NuScale Power this week:

• Negative Sentiment: NuScale missed Q1 estimates on both earnings and revenue, reporting a loss of $0.14 per share versus the expected $0.11 loss and just $0.56 million in revenue versus $7.0 million expected; revenue also fell sharply year over year, highlighting continued execution and commercialization challenges. Article Title
• Negative Sentiment: Operating expenses are climbing and RoPower-related activity has slowed, adding to concerns that near-term growth may not be keeping pace with spending. Article Title
• Neutral Sentiment: Fluor fully exited its equity stake in NuScale, which changes the shareholder structure but still leaves Fluor as an EPC partner; investors may view this as a governance/funding shift rather than a direct business setback. Article Title
• Positive Sentiment: Longer-term optimism remains tied to NRC approvals, a potential TVA power purchase agreement later this year, and the 6 GW ENTRA1 program, which could support future demand for NuScale’s small modular reactor technology. Article Title
• Positive Sentiment: Some analysts still see meaningful upside from current levels, with consensus price targets implying about 45% upside if execution improves and earnings estimates trend higher. Article Title

Insider Buying and Selling

In other news, COO Carl M. Fisher sold 22,197 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total value of $271,247.34. Following the completion of the sale, the chief operating officer directly owned 140,141 shares of the company's stock, valued at $1,712,523.02. This trade represents a 13.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Corp Fluor sold 13,500,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total value of $159,435,000.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 40,572,082 shares of company stock valued at $481,029,608. Insiders own 1.28% of the company's stock.

Institutional Trading of NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Van ECK Associates Corp lifted its position in shares of NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company's stock valued at $163,176,000 after buying an additional 6,227,747 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of NuScale Power in the fourth quarter valued at approximately $48,993,000. Samsung C&T Corp lifted its position in shares of NuScale Power by 98.9% in the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company's stock valued at $186,689,000 after buying an additional 2,578,702 shares during the last quarter. Morgan Stanley lifted its holdings in NuScale Power by 81.0% during the 4th quarter. Morgan Stanley now owns 5,277,905 shares of the company's stock worth $74,788,000 after purchasing an additional 2,361,532 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NuScale Power by 1,220.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock worth $26,127,000 after purchasing an additional 1,705,411 shares during the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SMR has been the subject of several recent research reports. Zacks Research raised NuScale Power from a "strong sell" rating to a "hold" rating in a research report on Friday, February 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of NuScale Power in a research report on Friday, March 27th. Barclays reduced their price target on NuScale Power from $45.00 to $15.00 and set an "equal weight" rating for the company in a research report on Monday, February 23rd. UBS Group reduced their price target on NuScale Power from $20.00 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Finally, HSBC initiated coverage on NuScale Power in a research report on Thursday, April 23rd. They set a "hold" rating and a $13.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $19.38.

About NuScale Power

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.

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