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    NuScale Stock Gets First Reactor Parts Built What Comes Next

    Simply Wall St·11/08/2026 00:52:16
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    • NuScale Power reported third quarter 2026 sales of US$0.281 million and a net loss of US$43.65 million, while moving into physical production of its first small modular reactor components with manufacturing partner Doosan Enerbility.
    • The combination of sharply lower service revenue and the shift toward manufacturing, backed by roughly US$1.9b of cash and an NRC approved SMR design, places execution on contracts and supply chain readiness at the center of NuScale Power's business story.
    • This review examines how NuScale Power's investment narrative is affected by its move into physical SMR module production with Doosan Enerbility.
    Spot other nuclear-focused plays that pair substantial capital needs with strong balance-sheet profiles by scanning our hand picked 17 nuclear energy infrastructure stocks, which highlights companies involved in the sector’s next build out.

    NuScale Power Investment Narrative Recap

    To hold NuScale Power, you need to believe that NRC approved small modular reactors can move from engineering contracts to real plants with paying customers. The third quarter print shows how early that journey still is. Sales were US$0.281 million and the business reported a net loss of US$43.65 million, so the model remains unproven commercially.

    The near term catalyst is simple. NuScale needs at least one large, binding project such as Tennessee Valley Authority or RoPower to validate its manufacturing and supplier build out. The biggest risk is that revenue stays minimal while negotiations drag, which would keep earnings and cash generation under pressure despite the US$1.9b cash balance.

    The most relevant update tied to this earnings release is the first article production agreement with Doosan Enerbility for the NuScale power module. Hardware is now being built, not just designed. That puts real pressure on NuScale Power to line up customer commitments that can absorb this capacity and translate engineering work into recurring project income.

    Physical production and a supply chain of more than 60 specialized suppliers create both leverage and exposure. If the Tennessee Valley Authority discussions or RoPower in Romania move into licensed construction, the manufacturing footprint can support delivery. If those opportunities stall, investors are left with ongoing quarterly losses, limited sales and a capital intensive platform waiting for contracts.

    NuScale Power's narrative projects US$410.4 million revenue and US$45.8 million earnings by 2029. This assumes very large yearly revenue growth of 237.3% and an earnings swing of about US$461.5 million from current earnings of a US$415.7 million loss.

    Uncover why NuScale Power's fair value indicates a 104% potential upside to its current price, a gap that could narrow quickly for early movers.

    NYSE:SMR 1-Year Stock Price Chart
    NYSE:SMR 1-Year Stock Price Chart

    Exploring Other Perspectives

    For NuScale Power, the sharp drop in quarterly sales to US$0.281 million keeps contract timing in the spotlight, although the lowest analysts were already focused on prolonged weak revenue. They were working off a 2029 revenue view of US$162.3 million and earnings of US$18.1 million. Those pre news assumptions may shift, so treat this as one of several stories to compare.

    Explore 9 other NuScale Power fair value estimates, including one that suggests as much as 47% downside from the current price!

    The Verdict Is Yours

    Don't just follow the ticker. Dig into the data and build a conviction that's truly your own.

    Looking for more NuScale Power style investment ideas?

    Once you have formed a view on NuScale Power, it can help to widen the lens and compare it with other companies filtered by the specific traits you care about most.