NuScale Power consensus estimates show lower 2026 revenue, improved net loss

When NuScale Power Corp. reports third-quarter results, much more attention will be paid on the progress the small modular reactor developer is making toward commercial deployment than its actual earnings.

NuScale is aiming to capitalize on growing demand for reliable, carbon-free electricity, including from power-intensive data centers.

The Visible Alpha consensus estimate for NuScale's third-quarter revenues is pegged at just $6 million, implying a decrease of 27.7% from a year ago. The consensus estimate for earnings stands at a loss of 12 cents per share, nearly double the year-ago reported number.

The consensus calls for full-year revenue of $25 million, implying a drop of 19.7% year on year. The consensus estimate also sees NuScale reporting a loss of 58 cents per share in 2026, which would be an improvement of 73.4%.

The expected revenue decline reflects the wind-down of major technology licensing and engineering work tied to NuScale's Romanian RoPower project. The company recognized substantial licensing revenue in 2024 and early 2025. Engineering services under Fluor's Front-End Engineering and Design Phase 2 contract contributed further before wrapping up in late 2025.

With no similar activities scheduled for 2026, NuScale has yet to secure enough new commercial business to offset the lost revenue.

Despite near-term headwinds, analysts remain optimistic about NuScale's long-term prospects. Current projections suggest revenue could grow at a compound annual growth rate of 113% between 2025 and 2030, reaching $1.4 billion by the end of the decade, driven primarily by the NuScale Power Module division. Analysts expect revenue in that division of $9.4 million in 2026, jumping to $112 million in 2027, and reaching an estimated $904 million for full year 2030.

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