NuScale Power falls on disappointing drop in Q1 sales
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NuScale Power's shares fell after the company reported disappointing Q1 earnings, with revenue at $560,000, significantly below the $10.5 million estimate. The decline in sales is attributed to completed licensing and design deals. CEO John Hopkins emphasized the growing demand for reliable, carbon-free power, noting NuScale's unique position as the only SMR technology provider with an approved design. The company has $1.0 billion in cash and investments but has seen its stock drop over 25% year to date.
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