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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) 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.
Centrus Energy Corp. (LEU) reported strong Q2 2022 results with a net income of $37.4 million on revenues of $99.1 million, up from $11.6 million and $62.4 million in Q2 2021. The increase in revenue was driven primarily by the LEU segment, which generated $85.5 million. The company also secured over $135 million in new sales contracts in 2022, alongside a long-term order book valued at approximately $1.0 billion. Centrus is well-positioned to meet the growing demand for U.S.-origin Low-Enriched Uranium and High-Assay, Low-Enriched Uranium.
Centrus Energy Corp. (NYSE American: LEU) will hold a quarterly conference call on August 5, 2022, at 8:30 a.m. ET to discuss its second quarter earnings for 2022, following the release of the report on August 4, 2022. The call can be accessed via www.centrusenergy.com, and a replay will be available until August 15, 2022. Centrus Energy is a key supplier of nuclear fuel and services, providing over 1,750 reactor years of fuel since 1998, equivalent to 7 billion tons of coal.
Centrus Energy Corp. (NYSE American: LEU) announced the results of its 2022 annual meeting held on June 23, 2022. Stockholders approved all proposals, including the election of eight director nominees for a one-year term, the advisory approval of executive compensation, and the ratification of PricewaterhouseCoopers as independent auditors for 2022. A total of 11,277,895 shares were represented at the meeting from 13,781,467 shares outstanding as of April 25, 2022.
Centrus Energy Corp. (NYSE American: LEU) will hold its 2022 Annual Meeting of Stockholders virtually on June 23, 2022, at 10:00 a.m. EDT. The meeting will be accessible via live webcast. Detailed information is available in the company's proxy statement for the meeting. With over 1,750 reactor years of fuel supplied since 1998, Centrus continues to support the nuclear power industry, providing reliable and affordable solutions for clean energy.
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