NuScale Power Corporation (NYSE:SMR) Q3 2023 Earnings Call Transcript

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Ryan Pfingst: Awesome. Thank you guys. I will turn it back.

Operator: Your next question comes from the line of [indiscernible] from Guggenheim Partners. Your line is open.

Unidentified Analyst: It is actually, James for Shah. Thanks for taking the question. Just had a quick follow-up. I would just want to come back to some of Ramsey’s comments on showing more detail. Can you give us any more color on what you expect to be able to provide with regards to guidance on the 4Q call? Would it be revenue and expense data points, or we will just be cash from ops like we saw this year? Thanks.

John Hopkins: I’m sorry. I didn’t hear that very well.

Ramsey Hamady: So you have indicated that you will be able to give some more guidance on the 4Q call. I guess, can you just give us any more color on what you expect to be able to provide? Is it just another year of cash from ops? Is it revenue and expense data points? Just how are you thinking about updating us with the next cycle?

John Hopkins: I think there is two points on this. And I know that I have engaged our analyst community with more qualitative feedback than hard forecasts. I think at the early stage, the development of our business, we rely on a handful of major contracts as we get moving. I think because of the variability and start timings, the work that is involved in early stage, it is a bit difficult to stick to a prediction on future earnings or future revenue. That being said, I would like to engage that for 2024, I think on the Q4 call, we will look to do that. My preference has been really to focus on cash because I think that accounting treatment for some of the work that we do skews the numbers a little bit, and that is why you will notice that as I discussed, I think with Mark Bianchi’s question because I discussed what Q4 looks like, I really focused on cash and I think that is what is important for us now.

Cash management, conservative cash management being responsible to our investors and bringing cash in from contracts. And so it is likely I will stick with a strong cash view as I engage the analyst community, but I would like to help people build out their models and build a proper kind of gap revenue model as well. So we will be doing both, but my focus really is on the cash management and cash flow.

Operator: Thank you. And that is all the time we do have today for Q&A. I will now turn the call back over to NuScale’s CEO, John Hopkins for final comments. John?

John Hopkins: Yeah, thank you, operator. Again, as we stated before, NuScale, we believe is well positioned and we are a first mover in the SMR space. We are opposed to commercialize and deliver, clean energy at scale. And our technology is essential to powering a global energy transition. And we believe we are at the forefront of that effort and we will work to deliver safe, scalable, and reliable carbon free nuclear power going forward. So I do appreciate everybody’s time. Thank you.

Operator: Thank you. And this does conclude today’s conference call. You may now disconnect. Have a great day.

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