Report published August 27, 2026
Standard Nuclear Inc. (STDN): 2Q26 Results & Contract Backlog Analysis – Goldman Sachs
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 27, 2026
- Analysis as of
- August 26, 2026
Authors / editors: Brian Lee, CFA, Tyler Bisset, CFA, Keshav Choudhary
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Goldman Sachs maintains a Buy rating and an $18 price target on Standard Nuclear Inc. (STDN) following 2Q26 results that beat revenue and net income estimates. The company's contracted backlog surged to $576.9mn in August 2026 driven by a new HALEU TRISO fuel supply contract.
Key Takeaways
- 1.STDN's 2Q26 revenue of $4.7mn beat consensus ($4.2mn) and GSe ($4.5mn), with net income of ($3.4mn) beating GSe forecast of ($4.1mn).
- 2.Total contracted backlog expanded significantly to $576.9mn in August 2026 (up from $241.5mn at 2Q26 end and $91.3mn at 1Q26 end) after executing a fuel supply agreement for one MTU of HALEU TRISO fuel.
- 3.Goldman Sachs maintains a Buy rating and a 12-month price target of $18.00, representing 31.4% upside from the closing price of $13.70.
Table of Contents
- Standard Nuclear Inc. (STDN): First Take: 2Q26 solid on key metrics; backlog meaningfully increases
- Disclosure Appendix
- Reg AC
- GS Factor Profile
- M&A Rank
- Quantum
- Disclosures
- Company-specific regulatory disclosures
- Distribution of ratings/investment banking relationships
- Target price history table(s)
- Regulatory disclosures
- Ratings, coverage universe and related definitions
- Global product; distributing entities
- General disclosures
Report data
GS Forecast — as of August 26, 2026.
| Metric | Estimate | Context |
|---|---|---|
| 2Q26 Revenue | 4.7 USD Million | Reported 2Q26 revenue exceeding GSe of $4.5mn and FactSet consensus of $4.2mn. |
| 2Q26 EBITDA | -3.9 USD Million | Reported 2Q26 EBITDA mostly in-line with GSe view of ($4.0mn). |
| 2Q26 Net Income | -3.4 USD Million | Reported 2Q26 net income ahead of GSe forecast of ($4.1mn). |
| Total Contracted Backlog | 576.9 USD Million | Total contracted backlog after an August 2026 fuel supply agreement, up from $241.5mn at 2Q26 end. |
| 12-Month Price Target | 18.0 USD | Based on 50/50 weighting of DCF ($18/sh) and EV/EBITDA ($19/sh). |
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Authors / Editors
Reported Data Context
- 2Q26 Revenue: 4.7 USD Million (2Q26) · Source: FactSet
- 2Q26 EBITDA: -3.9 USD Million (2Q26) · Source: Company data
- 2Q26 Net Income: -3.4 USD Million (2Q26) · Source: Company data
- Total Contracted Backlog: 576.9 USD Million (August 2026) · Source: Company data
- 12-Month Price Target: 18.0 USD (12-month) · Source: Goldman Sachs Research estimates
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