NuScale Power Corporation (NuScale) is a U.S.-based energy technology company that develops small modular nuclear reactor (SMR) power plants. Its light-water reactor technology uses factory-fabricated modules that can be combined to meet grid and industrial energy needs. NuScale holds an NRC-certified SMR design and offers VOYGR plants configured with multiple modules to deliver reliable, carbon-free electricity and heat.
NuScale targets applications requiring dependable, non-intermittent energy, including power for utilities, process steam and heat for industrial facilities, hydrogen production, and water desalination. For the chemical sector, its SMRs can supply baseload electricity and high-quality steam to reduce emissions and support electrification and hydrogen-based processes.
Also known as NuScale Power.
Revenue rose 9% to $4.3B; new awards $6.1B and backlog $26.9B; adjusted EBITDA guidance narrowed and reduced; $300M returned to shareholders in Q2.
2025 saw $754M in share repurchases, $12B in new awards, and a $25.5B backlog. Revenue hit $15.5B with a $51M net loss. $1.35B received from NuScale share sales in Q1 2026.
Fluor repurchased 17M shares for $700M and increased its share repurchase program by 30M shares. Further details to be discussed in the upcoming earnings call.
Q3 share repurchases hit $70M; new awards $3.3B. Backlog at $28.2B. Strong cash flow of $286M. EPS, EBITDA, cash flow guidance raised. NuScale investment to be monetized by Q2 2026.
Fluor will convert Class B units to Class A shares and monetize them by Q2 2026, with agreed restrictions to maintain NuScale's equity value.
Fluor sold 15M NuScale shares for $605M, plans to use proceeds for share repurchase. Holds 39% of NuScale equity. Cash forecast at $2.7B by Q3 end. Full results on Nov 7, 2025.
