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.
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NuScale stock surges on huge Q4 revenue beat
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.
What's next for NuScale Power?
NuScale generated most of its revenue in Q4 through sales to RoPower Nuclear -- a Romanian nuclear-energy company. RoPower is moving forward with the construction of a six-module SMR nuclear power plant, and NuScale indicated that it will continue to provide technology and support services to the company.
NuScale also said that it was ready for SMR deployment in the U.S. and highlighted discussions with potential cloud hyperscaler customers in the country. Power needs connected to data centers and artificial intelligence (AI) applications have emerged as a potentially massive performance catalyst for the business, and investors are excited about prospects in the category following the company's recent performance update.
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Keith Noonan has no position in any of the stocks mentioned. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.
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