Key Highlights - TVA and ENTRA1 announced an agreement to develop plants with up to 6 GWe of new nuclear power generation capacity powered by NuScale's SMR technology[9, 10] - The contemplated capacity of 6 GWe represents total deployment of approximately 72 NuScale Power Modules in up to 6 ENTRA1 Energy Plants in the TVA territory[11] - NuScale's work on Fluor's Phase 2 FEED study for the RoPower Doicești power plant continued to progress and generated $7.8 million in revenues in the third quarter[9] - NuScale further strengthened its cash position through an at-the-market (ATM) program which generated $475.2 million in gross proceeds in the third quarter[9] Partnership Milestones Agreement - NuScale entered into a Partnership Milestones Agreement with ENTRA1, pursuant to which NuScale has agreed to distribute to ENTRA1 a contribution amount payable for each NuScale Power Module™ anticipated to be placed in a project or power plant[12] - 15% of the contribution is earned upon execution of a term sheet, MOU, LOI, or framework agreement[13] - 35% is earned upon execution of a binding PPA, energy off-take agreement[13] - 50% is earned upon execution of an OEM agreement for the purchase of NuScale Power Modules ("NPMs")[13] Financial Updates - Cash & Cash Equivalents, Short-Term Investments, and Long-Term Investments totaled $407.6 million, $40 million, and $284.2 million respectively as of September 30, 2025[25] - Revenue for Q3 2025 was $8.2 million[27]

Financial Results - NuScale Power Corporation announced its financial results for Q3 2025, ending September 30, 2025[4]. - The press release detailing the financial results is attached as Exhibit 99.1[7]. - The report was signed by Chief Financial Officer Robert Ramsey Hamady on November 6, 2025[10]. Agreements and Partnerships - The company entered into a definitive agreement with Fluor Corporation regarding the monetization of Fluor's investment in NuScale[5]. - The joint press release with Fluor Corporation is attached as Exhibit 99.2[7].

Group 1: Company Overview - Nvidia is a leader in semiconductor architecture and has achieved a $5 trillion market cap, attracting significant investor attention [1][2] - NuScale Power is a prominent player in the nuclear energy sector, being the only small modular reactor (SMR) company with a design approved by the U.S. Nuclear Regulatory Commission, providing a competitive edge [5][6] Group 2: Financial Performance - Nvidia generated free cash flow of $60.7 billion in fiscal 2025 and $26.9 billion in fiscal 2024, showcasing its strong cash generation capabilities [7] - In contrast, NuScale Power reported revenue of only $8.1 million in the second quarter of 2025, indicating a significant disparity in financial performance [7] Group 3: Market Position and Growth Potential - NuScale Power's current market cap is $6 billion, which would require an extraordinary growth of 83,233% to match Nvidia's scale [10] - Despite the challenges, NuScale Power may still represent a valuable growth opportunity for investors interested in nuclear energy [11]

Core Insights - NuScale Power Corp (NYSE:SMR) is experiencing a price increase of 6.6%, reaching $38.01, as investors anticipate the upcoming third-quarter report, which is set to be released after market close tomorrow. The stock has shown a remarkable year-to-date increase of 111% [1] Group 1: Stock Performance - The stock has rebounded from a short-term pullback, supported by the 126-day moving average [1] - Historically, SMR tends to outperform after earnings, with six of the last eight reports resulting in significant next-day price increases, including a notable 21.6% rise in May [5] - The average earnings swing for the stock over the past two years has been 13.9%, with analysts expecting a larger-than-usual move of 19.1% for this quarter [5] Group 2: Options Activity - There is a high level of put trading activity surrounding SMR, with a 10-day put/call volume ratio of 5.24, placing it in the 92nd percentile of annual readings [3] - The stock's Schaeffer's put/call open interest ratio (SOIR) stands at 1.46, indicating a strong bearish sentiment, also in the highest percentile of annual readings [3] - If this bearish sentiment begins to reverse, it could provide additional support for the stock [3] Group 3: Short Interest - Short interest in SMR has decreased by 17% over the last two reporting periods, yet it still represents 24.5% of the stock's total available float [4] - At the current average trading pace, it would take short sellers nearly two days to cover their positions [4]

We recently published 10 Stocks Lead Wall Street Downward Spiral. NuScale Power Corp. (NYSE:SMR) is one of the worst-performing stocks on Tuesday. NuScale dropped for a second day on Tuesday, losing 12.74 percent to close at $35.63 apiece as investors sold off positions ahead of the results of its earnings performance this week. According to NuScale Power Corp. (NYSE:SMR), it will release the results of its financial and operating highlights for the third quarter of the year after market close on Thursda ...

Core Insights - NuScale Power is set to release its third-quarter 2025 results on November 6, with a consensus revenue estimate of $11.10 million, reflecting a significant increase of 2,260.6% from $0.47 million in the same quarter last year [1] - The consensus estimate for the bottom line indicates a loss per share of 11 cents, which shows improvement from a loss of 18 cents per share in the previous year [2] Financial Performance - The current consensus estimates for the upcoming quarters show a consistent loss per share of 11 cents for Q3 2025 and 12 cents for Q4 2025, with the full year loss estimated at 50 cents [3] - In the last reported results for Q2, NuScale Power reported a loss per share of 13 cents, which was wider than the consensus estimate of 12 cents [3] Market Position and Demand - NuScale Power is recognized as a global leader in small modular reactor (SMR) technology, with a focus on expanding its portfolio and being the only SMR technology approved by the U.S. Nuclear Regulatory Commission [6] - The anticipated results for Q3 2025 are expected to benefit from increased demand for clean energy and power, particularly driven by AI data centers and the global shift towards clean energy solutions [7] Strategic Partnerships - The company has made significant progress in developing its SMR technology with partners like Doosan Enerbility and ENTRA1 Energy, enhancing its market position and supply chain readiness [8] - The collaboration with ENTRA1 Energy allows NuScale to provide power modules for energy production plants, which helps mitigate risks and ensures scalable deployment of clean energy solutions [9][10] Stock Performance and Valuation - Year-to-date, NuScale Power shares have increased by 124.9%, although this is below the Zacks Electronics - Power Generation industry's growth of 137% [11] - The stock is currently trading at a forward 12-month price-to-sales (P/S) ratio of 89.34X, significantly higher than the industry average of 30.7X, indicating a stretched valuation [15][19] Competitive Landscape - NuScale Power faces increasing competition from companies like GE Vernova, BWX Technologies, and Oklo, which could impact its market share [21][22] - Despite advancements in SMR technology, the competitive energy market, including the rise of renewable energy sources, poses challenges for NuScale Power [24]

Group 1 - The nuclear supply chain, particularly uranium miners like Cameco Corporation and BWX Technologies, has shown positive performance over the past few years [1] - The analyst has extensive experience across various industries including airlines, oil, retail, mining, fintech, and e-commerce, which contributes to a comprehensive understanding of market dynamics [1] - The analyst has navigated multiple crises, including the dot-com bubble, 9/11, the great recession, and the COVID-19 pandemic, providing a robust foundation for analyzing diverse business models [1]

Group 1 - NuScale Power's shares increased by 15.5% this week, outperforming the S&P 500 and Nasdaq-100, driven by strong earnings reports from major tech companies indicating sustained AI spending [1] - The significant energy demands of AI data centers have led to increased interest in nuclear energy stocks, particularly NuScale, as these companies ramp up capital expenditures [2] - Major tech firms like Meta, Microsoft, and Amazon are expected to set new capital expenditure records next year, which bodes well for NuScale's prospects in supplying small modular reactors (SMRs) for these data centers [3] Group 2 - Despite the potential opportunities, NuScale currently has minimal revenue and high ongoing costs, with its technology still under development and facing lengthy regulatory approval processes [5] - The ongoing surge in AI data center spending reinforces investor confidence in the demand for NuScale's reactors, as indicated by the latest earnings from large tech companies [7]

Group 1: Water Stocks Overview - Water stocks are shares of companies involved in the supply, treatment, transport, storage, or management of water, including utilities, infrastructure firms, and technology providers [2] - Investors view water stocks as a way to gain exposure to a regulated sector with long-term demand driven by population growth, urbanization, and water scarcity [2] - The companies mentioned had the highest dollar trading volume among water stocks recently [2] Group 2: NuScale Power - NuScale Power Corporation develops and sells modular light water reactor nuclear power plants for various applications, including electrical generation and desalination [3] - The company offers the NuScale Power Module (NPM), which generates 77 megawatts of electricity (MWe), and designs for power plants that can house multiple NPMs [3] Group 3: Coca-Cola - The Coca-Cola Company manufactures and sells a variety of nonalcoholic beverages globally, including soft drinks, water, sports drinks, coffee, tea, and juices [4] Group 4: Ecolab - Ecolab Inc. provides water, hygiene, and infection prevention solutions, operating through three segments: Global Industrial, Global Institutional & Specialty, and Global Healthcare & Life Sciences [5] - The Global Industrial segment focuses on water treatment and cleaning solutions for various industries, including food and beverage processing and power generation [5] Group 5: Xylem - Xylem Inc. designs, manufactures, and services engineered products and solutions, operating through four segments: Water Infrastructure, Applied Water, Measurement & Control Solutions, and Integrated Solutions and Services [6] - The Water Infrastructure segment offers products such as pumps, filtration, disinfection equipment, and mobile dewatering services [6] Group 6: American Water Works - American Water Works Company, Inc. provides water and wastewater services to approximately 1,700 communities across 14 states, serving around 3.5 million active customers [8] - The company serves various customer segments, including residential, commercial, industrial, and public authorities [8]

Core Insights - NuScale congratulated ENTRA1 Energy for being positioned to receive up to $25 billion in investment capital under the U.S.-Japan Framework Agreement [1] Company Summary - ENTRA1 Energy is set to benefit significantly from the U.S.-Japan Framework Agreement, which could provide substantial financial backing [1] Industry Context - The investment capital of up to $25 billion highlights the growing collaboration between the U.S. and Japan in energy initiatives, indicating a positive trend in international energy partnerships [1]