EU · enCore Energy Corp.

enCore Energy Corp. reported a strong turnaround in Q1 2026, posting net income of $0.03 per share compared to a $(0.13) loss in the same period last year. The improvement was driven by enhanced operational performance and a gain from the sale of New Mexico assets to Verdera Energy. Uranium extraction rose 22% year-over-year to 90,000 pounds, while delivery volumes decreased slightly to 270,000 pounds at a higher average price of $67.78 per pound. However, the weighted average cost of delivered U3O8 increased to $68.02 per pound from $62.97, reflecting higher purchased pound costs. Extraction costs per pound edged up to $46.43 from $45.62. The company ended the quarter with $41.6 million in cash and total liquidity of $84.7 million, including marketable securities. Management highlighted ongoing cost reduction initiatives, improved shareholder communication, and active evaluation of industry consolidation opportunities. The results demonstrate operational progress and a strengthened financial position, positioning enCore for potential growth in the uranium market.