Why NuScale Power Stock Is Skyrocketing Today
NuScale Power (NYSE: SMR) stock is surging following the company's recent fourth-quarter report. The nuclear power specialist's share price was up 17.1% as of 3:25 p.m. ET.
NuScale published its fourth-quarter results yesterday, and Wall Street is very happy with the company's performance and forward guidance. While the business posted a wider-than-expected loss in the period, sales came in far better than the market's expectations.
NuScale posted a loss of $0.77 on sales of $34.22 million in the fourth quarter. While the loss for the period came in $0.64 per share worse than the market had anticipated, the performance wasn't worrying because the company's sales topped the market's expectation by $31.14 million. NuScale did far more business in the period than investors had expected, so it makes sense that its loss was much bigger as well. With the huge sales beat, it appears that the rollout of the company's small-module-reactor (SMR) technologies have scaled faster than expected.
Source Fool.com
