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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 American: LEU) and Korea Hydro & Nuclear Power (KHNP) have entered into a contingent supply commitment to support the construction of new uranium enrichment capacity at Centrus' American Centrifuge Plant in Ohio. The commitment covers a decade of Low-Enriched Uranium (LEU) deliveries for Korea's nuclear reactors. Centrus has secured $1.8 billion in total contingent sales commitments, including KHNP and other customers.
These commitments are contingent on definitive agreements and Centrus securing necessary public and private investment. The agreement aims to re-establish large-scale, U.S.-owned uranium enrichment capability. Centrus is competing for federal funding under U.S. Department of Energy proposals, with Congress providing over $3.4 billion for LEU and HALEU production.
Centrus Energy Corp. (NYSE American: LEU) has announced its participation in three upcoming investor conferences in New York City this September:
- On September 5, CFO Kevin Harrill will attend the Jefferies 2024 Industrials Conference
- On September 11, President and CEO Amir Vexler and CFO Kevin Harrill will be at the 26th Annual H.C. Wainwright Global Investment Conference
- On September 12, Vexler and Harrill will participate in the Lake Street 8th Annual Best Ideas Growth Conference
At each event, Centrus management will host one-on-one investor meetings. Interested parties should contact their respective conference representatives to request an invitation or schedule a meeting.
Centrus Energy (NYSE American: LEU) has announced two new additions to its Board of Directors. Stephanie O'Sullivan, with extensive experience in national security and the U.S. Intelligence Community, and Ray Rothrock, a venture investor with a background in nuclear engineering, have joined the board. These appointments are expected to bring valuable expertise in national security, clean energy technology deployment, and financing to Centrus.
The company's Chairman, Mikel Williams, emphasized the importance of these additions, highlighting O'Sullivan's understanding of Centrus' critical role in national security and Rothrock's experience in financing innovative clean energy technologies. Both new board members expressed their commitment to helping Centrus restore U.S. uranium enrichment capabilities, which they view as important for both energy security and national security.
Centrus Energy Corp. (NYSE American: LEU) reported strong Q2 2024 results, with net income of $30.6 million on $189.0 million in revenue, compared to $12.7 million on $98.4 million in Q2 2023. The company's consolidated cash balance stood at $227.0 million as of June 30, 2024. Centrus secured a DOE waiver under the Prohibiting Russian Imports Act for 2024 and 2025 U.S. customer deliveries. The company also completed a $234 million pension plan annuitization, resulting in a $16.6 million settlement gain. Centrus is actively competing for DOE funding to restore domestic uranium enrichment capability, with over $3.4 billion in appropriations available. The company's backlog is $2.7 billion as of June 30, 2024, extending to 2040.
Centrus Energy Corp. (NYSE American: LEU) has announced its upcoming quarterly conference call with shareholders and the financial community. The webcast is scheduled for Wednesday, August 7, 2024, at 8:30 a.m. ET. Centrus will release its second quarter earnings report for 2024 after market close on Tuesday, August 6. The call will be accessible through the company's website, www.centrusenergy.com, with a replay available until August 17, 2024.
Centrus Energy is a key supplier of nuclear fuel and services for the nuclear power industry. Since 1998, the company has provided over 1,750 reactor years of fuel, equivalent to 7 billion tons of coal. Centrus is also working on advancing centrifuge technologies to restore America's domestic uranium enrichment capabilities.
Centrus Energy Corp. (NYSE American: LEU) announced that its President and CEO, Amir Vexler, along with CFO, Kevin Harrill, will attend the Citi 2024 One-on-One Midstream & New Energy Infrastructure Conference. The event is scheduled for August 13-14, 2024, in Las Vegas, Nevada. The company will host one-on-one investor meetings during the conference. Investors interested in meeting with the management can request an invitation or schedule a meeting through their Citi representative.
Centrus Energy Corp. (NYSE American: LEU) announced that its President and CEO, Amir Vexler, along with CFO Kevin Harrill, will participate in the J.P. Morgan 2024 Energy, Power & Renewables Conference. The event is scheduled for June 18 in New York, NY. They will engage in a fireside chat at 2:20 PM ET and host one-on-one investor meetings throughout the day. A webcast of the chat will be available on Centrus' Investor Relations website.
Centrus Energy Corp. (NYSE American: LEU) announced its scheduled participation in the 24th B.Riley Securities Institutional Investor Conference on May 22, 2024, in Beverly Hills, California.
CEO Amir Vexler and CFO Kevin Harrill will represent the company, engaging in a fireside chat at 2:30 PM PT and hosting one-on-one investor meetings throughout the day.
Interested parties are encouraged to contact their B.Riley Securities representative to request invitations or schedule meetings.
Centrus Energy Corp. (NYSE American: LEU) reported a net loss of $6.1 million on $43.7 million in revenue for Q1 2024, compared to net income of $7.2 million on $66.9 million in revenue in Q1 2023. The company has a consolidated cash balance of $209.3 million as of March 31, 2024. Centrus continues its enrichment operations in Piketon, Ohio, with total production of approximately 135 kilograms of HALEU. The company signed approximately $900 million in contingent sales commitments for LEU to support potential construction of LEU production capacity.
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