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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: LEU) reported a robust 2022, achieving $293.8 million in total revenue, with a notable $235.6 million from the LEU segment, reflecting a $49.5 million increase year-over-year. The company's net income stood at $52.2 million, including a one-time $21.3 million loss related to the HALEU Operation Contract. The fourth quarter saw LEU segment revenue of $112.2 million and a gross profit of $67 million. Centrus secured a $150 million contract for HALEU production, set to commence operations by year-end. The company boasts a strong cash position and a $1 billion order book for its LEU segment, enhancing its production capabilities for national security needs.
Centrus Energy Corp. (LEU) will hold a quarterly conference call on February 22, 2023, at 8:30 a.m. ET, following the release of its 2022 fourth quarter and year-end earnings report after market close on February 21, 2023. The conference call will be accessible via the Company’s website, where a webcast replay will also be available until March 3, 2023. Centrus Energy is a key supplier of nuclear fuel, having provided over 1,750 reactor years of fuel since 1998, supporting the demand for clean energy. The Company is also focused on advancing centrifuge technologies for future uranium enrichment capabilities.
Centrus Energy Corp. (NYSE American: LEU) announced the completion of its advanced uranium enrichment centrifuge cascade, marking the first production facility of its kind in the U.S. in 70 years. Located in Piketon, Ohio, the plant aims to demonstrate High-Assay, Low-Enriched Uranium (HALEU) production by end of 2023, pending final regulatory approval. This facility is crucial for next-generation nuclear reactor designs, with nine out of ten funded projects relying on HALEU. Centrus is also exploring expansion for increased production capacity, potentially creating numerous jobs in Ohio.
Centrus Energy Corp. (NYSE American: LEU) has signed a contract with the U.S. Department of Energy (DOE) to produce High-Assay, Low-Enriched Uranium (HALEU) at its Piketon, Ohio facility. The contract, valued at approximately $150 million, aims to complete construction and demonstrate HALEU production by December 31, 2023. Following this, Centrus will produce 900 kilograms of HALEU annually for a year under a potential $90 million Phase Two contract. The production of HALEU is critical for next-gen reactors, addressing the growing demand for carbon-free energy.
Centrus Energy Corp. (NYSE American: LEU) reported third quarter 2022 results, showing a net loss of $6.1 million on revenues of $33.2 million, down from a net income of $42.1 million on $91.3 million in Q3 2021. The decrease in revenue is attributed to reduced sales in both the LEU and Technical Solutions segments. However, the company secured over $270 million in new sales contracts year-to-date, indicating strong future demand. Centrus continues to meet U.S. Department of Energy milestones for HALEU production, positioning itself well in the nuclear energy sector.
Centrus Energy Corp. (LEU) will host its quarterly conference call on November 9, 2022, at 8:30 a.m. ET. The company will announce its third quarter earnings for 2022, ending September 30, after market close on November 8. Investors can access the call via the company's website, with a replay available until November 19, 2022. Centrus Energy is a key supplier of nuclear fuel, contributing to more than 1,750 reactor years of fuel, equivalent to 7 billion tons of coal, supporting clean energy initiatives.
Centrus Energy Corp. (NYSE American: LEU) announced the acquisition of new nuclear fuel sales contracts valued at approximately $320 million over the last year, with $270 million secured year-to-date. These commitments, covering deliveries from 2022 to 2030, reflect growing global demand for clean nuclear energy amid climate change efforts. Centrus aims to strengthen utility partnerships while expanding its business, leveraging multi-year contracts that provide stable revenue streams. These developments indicate positive momentum for the company's future prospects.
Centrus Energy Corp. (NYSE American: LEU) President and CEO Daniel B. Poneman received the Order of the Rising Sun, Gold and Silver Star, from the Government of Japan on September 8, 2022, recognizing his contributions to US-Japan energy relations. The award ceremony, delayed due to the pandemic, was attended by various dignitaries including the Japanese Ambassador to the US. Poneman emphasized teamwork in strengthening the US-Japan partnership and the importance of cooperation in nuclear energy and fuel supply for global energy security.
Centrus Energy Corp. (NYSE American: LEU) announced that its CEO, Daniel B. Poneman, and CFO, Philip Strawbridge, will participate in the Lake Street Capital Markets' 6th Annual Best Ideas Growth Conference on September 14, 2022, in New York, NY. This conference provides an opportunity for investors to engage directly with the management team of Centrus Energy. The company is a key supplier in the nuclear power industry, providing essential fuel and services while advancing domestic uranium enrichment capabilities to support clean energy initiatives.
Centrus Energy Corp. (NYSE American: LEU) welcomed the Inflation Reduction Act, highlighting its $700 million funding for High-Assay, Low-Enriched Uranium (HALEU) production. This investment aims to bolster domestic production of advanced nuclear fuel, essential for future reactors. With the only U.S. Nuclear Regulatory Commission license for HALEU production, Centrus is committed to supporting the nuclear energy sector and contributing to climate goals. The company emphasizes the need for ongoing investment to develop necessary infrastructure for HALEU production.
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