Business
enCore Energy Reports Q1 2026 Financial Results
DALLAS, May 14, 2026 /CNW/ - enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the "Company" or "enCore"), America's Clean Energy Company™, announced today its
About this update from Encore Energy Corp.
[{"type":"text","content":" DALLAS, May 14, 2026 /CNW/ - enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the \"Company\" or \"enCore\"), America's Clean Energy Company™, announced today its financial and operational results for the first quarter ended March 31, 2026. William M. Sheriff, Executive Chairman of enCore Energy, stated, \"enCore's first quarter results reflect year-over-year improvements in uranium extraction with only a slight increase in our cost per pound. \"Looking ahead, our new CEO, Richard Little, and I are excited by the company's prospects for the remainder of 2026 and beyond as the results of our decisive action plan take full effect: Cut costs across the organization Increase and accelerate shareholder communication Focus on and continue to push for more timely permit approvals Actively evaluate potential industry consolidation opportunities.\" Sheriff continued: \"Our early execution is already showing improvement as our overall liquidity as of May 8, 2026, stood at $84.7 million, including cash, 23.8 million shares of Ur-Energy, plus other marketable securities, excluding Verdera Energy shares.\" Highlights for the first quarter of 2026 include: Net income per share $0.03 for the first quarter of 2026, versus $(0.13) per share loss for the same period ended March 31, 2025. The improvement in net income per share is driven by improved operations and the impact of the sale of the New Mexico assets to Verdera, as described in the Form 10-Q; Delivery of 270,000 pounds of U3O8 into sales contracts at an average price of $67.78 per pound in Q1 2026, compared to 290,000 pounds of U3O8 in Q1 2025 at an average price of $62.89 per pound; Q1 2026 weighted average cost of delivered U3O8 was $68.02 per pound compared to a weighted average cost of $62.97 per pound in the 2025 period; U3O8 extraction of 90,000 pounds during the period ended March 31, 2026, an increase of approximately 22% from 73,711 pounds during the period ended March 31, 2025; Q1 2026 extraction costs of $46.43 per pound compared to $45.62 in the 2025 period; Closing U3O8 inventory balance was 153,956 pounds at a weighted average cost of $64.52 per pound; and Closing cash and equivalent balance of $41.6 million with total liquidity of $84.7 million, including marketable securities other than Verdera Energy shares on March 31, 2026. Total Costs of U3O8 Sold As of Ma...