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Fluor’s Exit and Mounting Delays Could Be A Game Changer For NuScale Power (SMR)

Simply Wall St · 1d ago
  • NuScale Power has moved further into commercialization after securing U.S. regulatory approvals for its 50-megawatt and 77-megawatt reactor designs, expanding supply chain partnerships, and pursuing major small modular reactor projects in the U.S. and Romania.
  • At the same time, project delays, mounting operating losses, legal challenges, and the complete exit of former largest shareholder Fluor in April 2026 have fueled concerns about NuScale’s ability to convert its pipeline into firm contracts and sustainable revenue.
  • We’ll now examine how Fluor’s exit and ongoing project delays reshape NuScale’s previously optimistic investment narrative around commercialization and growth.

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NuScale Power Investment Narrative Recap

To own NuScale Power today, you have to believe its NRC approved SMR designs and early project pipeline can eventually turn into long term contracts and recurring revenues, despite heavy losses and share price volatility. The recent sell off, Fluor’s full exit, and concerns around the delayed Romanian project sharpen the focus on one key near term catalyst, a binding deal with TVA, and one central risk, NuScale’s ability to fund operations until meaningful cash inflows arrive.

Against that backdrop, the 2025 NRC uprate approval for the 77 megawatt module remains especially important, because it underpins NuScale’s value proposition in the TVA ENTRA1 program and other large projects that could set pricing, reference performance, and long term service revenue if they progress to firm offtake agreements.

Yet beneath the regulatory wins, investors should be aware of how prolonged project delays and NuScale’s ongoing operating losses could affect...

Read the full narrative on NuScale Power (it's free!)

NuScale Power’s narrative projects $389.8 million revenue and $42.8 million earnings by 2029. This requires 175.4% yearly revenue growth and a $428.6 million earnings increase from -$385.8 million today.

Uncover how NuScale Power's forecasts yield a $15.36 fair value, a 90% upside to its current price.

Exploring Other Perspectives

SMR 1-Year Stock Price Chart
SMR 1-Year Stock Price Chart

Some of the lowest ranked analysts were already assuming NuScale might still be unprofitable by 2029 even if revenue rose toward about US$134.0 million, so you should expect that this latest setback could push them to lean even harder into concerns about slower contract conversion and higher cash burn, and use it as a prompt to compare their more cautious view with others before deciding where you stand.

Explore 21 other fair value estimates on NuScale Power - why the stock might be a potential multi-bagger!

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.