The companies winning in the nuclear energy market right now could extend their gains throughout the rest of 2026 and beyond.
The companies winning in the nuclear energy market right now could extend their gains throughout the rest of 2026 and beyond.
As data centers strain traditional power grids, it sets up an opportunity for nuclear-energy companies. They can provide 24/7 baseload power, and the small modular reactors (SMRs) being developed will offer greater placement flexibility and less location constraint due to their size.
The industry is still being built out, but it's that growth potential that is fueling some of the biggest winners not just in the energy sector but in the broader markets in 2026. Three companies with nuclear-energy ties quietly winning this year are Fluor (FLR 2.58%), Uranium Energy (UEC +1.62%), and Cameco (CCJ +1.87%).
1. The nuclear energy advisor
Fluor is an engineering and construction company, with three main business segments: energy solutions (helping the energy industry), mission solutions (helping governments), and urban solutions (helping cities).
Right now, the company's main driving force is energy. In April, Fluor announced that it will provide services to Maryland-based X-Energy, which is developing four SMRs. And in March, Fluor announced a limited notice-to-proceed agreement with TeraWulf for a data-center campus in Kentucky, where it would provide master planning and pre-construction services.
Recently, Fluor's 2026 first-quarter earnings report offered a bit of a mixed bag. Total revenue of $3.6 billion marked a decline of 8%, and its energy solutions division also saw a year-over-year sales decline. It did, however, report increased profitability in that energy solutions business, with revenue rising from $47 million to $74 million. It also has a huge orders backlog of $25.7 billion.
Looking ahead, Fluor has growing opportunities in the nuclear energy sector through SMRs and long-term government contracts. Investors will have to brace for volatility, as the stock has more price swings than the broader markets. But it's quietly performing well in 2026. The shares are up more than 18% this year (as of May 26).
2. Mining and exploring
Shifting gears from construction and engineering, let's look at Uranium Energy, which explores for and mines the fuel needed by nuclear reactors. It also launched a subsidiary, U.S. Uranium Refining & Conversion, to review the potential to develop a uranium refining and conversion facility. It's a small world: Uranium Energy is working on a subsidiary with Fluor.
Averytin News Financial update.