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Centrus Energy Corp. (NYSE American: LEU) is a trusted supplier of enriched uranium fuel for both domestic and international nuclear power plants. For over 50 years, Centrus has maintained a tradition of reliability, ensuring all customer shipments are made on time and within specification.
The company operates through two main segments: Low-Enriched Uranium (LEU) and Technical Solutions. The LEU segment covers the sale of separative work units and uranium, forming the majority of the company's revenue. The Technical Solutions segment offers engineering, design, and manufacturing services to both government and private sector customers.
Centrus is also at the forefront of deploying American Centrifuge Technology to support U.S. energy and national security. This includes their latest initiative to produce High-Assay Low-Enriched Uranium (HALEU) at their American Centrifuge Plant in Piketon, Ohio, ahead of schedule and under budget. This plant, the first new U.S.-owned uranium enrichment facility to begin production since 1954, is a significant milestone in restoring domestic uranium enrichment capabilities. HALEU is a critical component for next-generation reactors, making Centrus a key player in the future of nuclear energy.
Since 1998, Centrus has provided utility customers with more than 1,750 reactor years of fuel, equivalent to 7 billion tons of coal, further cementing their role in offering clean, affordable, carbon-free electricity. Their advancements in centrifuge technologies ensure the U.S. can sustain its nuclear energy capabilities and meet growing global energy demands.
Among its notable achievements, between 1995 and 2013, Centrus participated in the Megatons to Megawatts program, which recycled 500 metric tons of weapons-grade uranium from dismantled Russian nuclear warheads, equivalent to 20,000 warheads, into low-enriched uranium for electricity generation.
Financially, Centrus has demonstrated solid performance, with significant revenue contributions from both its LEU and Technical Solutions segments. The company's recent financial results include a net income of $8.2 million for Q3 2023, a net income of $84.4 million for the year 2023, and strong contingent LEU sales commitments worth approximately $900 million.
Centrus' leadership team, including newly appointed CEO Amir Vexler, remains dedicated to strengthening the company's position and expanding production to meet both commercial and national security needs.
With a firm commitment to innovation and reliability, Centrus Energy continues to play a crucial role in supporting the nuclear power industry and contributing to global clean energy objectives.
Centrus Energy Corp. (NYSE America: LEU) has announced its upcoming participation in the Goldman Sachs Energy, CleanTech & Utilities Conference on January 8, 2025. The company's management will engage in a fireside chat session at 2:20 PM ET and will be available for one-on-one investor meetings throughout the day.
Investors can access a webcast of the fireside chat through Centrus' Investor Relations website. Those interested in scheduling meetings with management or requesting an invitation to the conference should contact their Goldman Sachs representative.
Centrus Energy (NYSE American: LEU) has secured its third award from the U.S. Department of Energy for expanding domestic commercial production of Low-Enriched Uranium (LEU). The company's subsidiary, American Centrifuge Operating, is among six awardees, with contracts ranging from $2 million minimum to $3.4 billion maximum over ten years.
The company announced plans to invest $60 million over 18 months to resume centrifuge manufacturing, expand its Tennessee facility, and prepare its Ohio facility for operations. The project will utilize domestic engineering and a supply chain spanning 14 American-owned suppliers across 13 states.
This award follows two previous selections: one for producing High-Assay, Low-Enriched Uranium (HALEU) for advanced reactors and another for deconverting HALEU from uranium hexafluoride to uranium oxide/metal forms.
Centrus Energy Corp (NYSE America: LEU) announced its upcoming participation in Bank of America's Clean Energy Symposium on December 5. The company's management will be featured in a panel discussion at 1:15 PM ET and will be available for one-on-one investor meetings throughout the day. Interested parties can arrange meetings through their Bank of America representatives.
Centrus Energy Corp. (NYSE American: LEU) announced a $60 million investment to resume and expand centrifuge manufacturing at its Oak Ridge, Tennessee facility. This investment, planned over 18 months, aims to support a potential multi-billion dollar expansion of uranium enrichment at the American Centrifuge Plant in Piketon, Ohio. The announcement follows securing over $2 billion in customer commitments for Low-Enriched Uranium production and two U.S. Department of Energy awards for HALEU enrichment and deconversion. The company is competing for over $3.4 billion in federal funding to boost domestic nuclear fuel production.
Centrus Energy (NYSE American: LEU) has appointed Neal Nagarajan as Senior Vice President and Head of Investor Relations. Nagarajan will oversee investor relationships and communicate the company's business strategy, governance, and financial performance. He joins from Sloane & Company, where he served as Senior Vice President of IR and Special Situations. His previous experience includes leadership roles at Sard Verbinnen & Company and work as an M&A investment banker. Nagarajan holds an MBA from Georgetown University and degrees in Economics and International Affairs from The George Washington University.
Centrus Energy (NYSE American: LEU) has priced a $350 million private offering of 2.25% Convertible Senior Notes due 2030. The notes will bear interest at 2.25% annually, payable semiannually, and mature on November 1, 2030. The initial conversion rate is 10.2564 shares per $1,000 principal amount, equivalent to $97.50 per share. The company expects net proceeds of approximately $337.9 million, which will be used for general working capital, technology development, debt repayment, capital expenditures, and potential acquisitions.
Centrus Energy Corp. (NYSE American: LEU) has announced plans to offer $350 million of Convertible Senior Notes due 2030 in a private offering to qualified institutional buyers. The notes will pay interest semiannually on May 1 and November 1, starting May 1, 2025. Initial purchasers may receive an option to buy an additional $52.5 million in notes. The notes will be convertible to cash or a combination of cash and Class A common stock. Centrus plans to use the proceeds for working capital, technology development, debt repayment, capital expenditures, and potential acquisitions.
Centrus Energy reported Q3 2024 results with a net loss of $5.0 million on revenue of $57.7 million, compared to net income of $8.2 million on $51.3 million revenue in Q3 2023. The company secured $1.1 billion in new contingent commitments for LEU production deployment, bringing the year-to-date total to $2.0 billion. Centrus was selected by the DOE for HALEU production and deconversion contracts, with a potential ceiling of $2.7 billion. The company maintains a strong consolidated cash balance of $194.3 million and a substantial backlog of $3.8 billion extending to 2040.
Centrus Energy Corp. (NYSE American: LEU) has announced its upcoming third quarter earnings conference call, scheduled for October 29, 2024, at 8:30 a.m. ET. The company will release its Q3 2024 earnings report after market close on October 28. Shareholders and financial community members can access the webcast through the Investor Relations section of www.centrusenergy.com, with replay available until November 8, 2024.
Centrus Energy serves as a nuclear fuel and services provider for the nuclear power industry, having supplied over 1,750 reactor years of fuel since 1998, equivalent to 7 billion tons of coal. The company focuses on providing reliable nuclear fuel supply sources and advancing centrifuge technologies to restore domestic uranium enrichment capabilities.
Centrus Energy (NYSE American: LEU) has won an award from the U.S. Department of Energy to expand domestic production of High-Assay, Low-Enriched Uranium (HALEU). This fuel is important for next-generation nuclear reactor designs. The award, given to Centrus' subsidiary American Centrifuge Operating, (ACO), has a minimum contract value of $2 million and a maximum value of $2.7 billion over ten years for all awardees.
ACO will manufacture centrifuges and equipment in the United States, utilizing a domestic supply chain across 13 states. This award is part of a public-private partnership aimed at restoring American-owned uranium enrichment capabilities. Additionally, ACO was recently selected to deconvert HALEU from uranium hexafluoride to uranium oxide and/or uranium metal forms, a separate step in the nuclear fuel production process.
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