NuScale Power Corp (NYSE: SMR) is scheduled to release its second-quarter earnings after market close on August 5, with investors watching closely for any meaningful project updates.
The company’s stock has lost nearly 50% of its value so far in 2026, with its market capitalization now hovering around $3 billion amid persistent investor uncertainty.
The biggest drag on NuScale’s stock price has been a lack of clarity around its ability to execute on its project pipeline, making this week’s earnings call a pivotal moment for the company.
Among NuScale’s most promising near-term projects is a 6 GW small modular reactor system intended for the Tennessee Valley Authority, one of the largest public utilities in the United States.
That project was announced last September, but meaningful updates have been scarce since the initial announcement, leaving investors with little to go on as the stock continued its slide.
When the Tennessee Valley Authority deal was first announced last September, NuScale’s stock spiked to $47 per share, compared to its current price below $10, highlighting just how much optimism has evaporated.
A positive update on that project during the earnings call could provide NuScale shares with a much-needed lift, potentially reversing months of sustained selling pressure.
In May, NuScale CEO John Hopkins stated publicly that he expects a power purchase agreement with the Tennessee Valley Authority to be finalized by the end of 2026.
Hopkins is expected to provide a formal update on that timeline during the August earnings call, and any progress on a power purchase agreement would be seen as a significant positive catalyst.
Securing a power purchase agreement would lock the Tennessee Valley Authority into buying power from NuScale’s SMR system over the long term, vastly improving the odds that construction will begin in 2027.
Beyond the Tennessee Valley Authority deal, NuScale’s broader business model is benefiting from rising global electricity demand driven by the rapid expansion of AI technologies and energy-intensive data centers.
If Hopkins delivers an optimistic update on the power purchase agreement timeline, NuScale could emerge from this earnings cycle as one of the more compelling turnaround stories in the nuclear energy sector.
