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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. (LEU) reported a net loss of $0.4 million for Q1 2022, down from a net income of $5.1 million in Q1 2021. Total revenue fell to $35.3 million, compared to $55.6 million in the same period last year, with a significant decrease of $20.4 million in the LEU segment. Gross profit was $6.3 million, down from $11.7 million year-over-year. However, the company continues to meet milestones under its DOE HALEU contract and seeks to expand its production capabilities at the Piketon facility to enhance domestic uranium enrichment.
Centrus Energy Corp. (NYSE: LEU) will host a quarterly conference call on May 6, 2022, at 8:30 a.m. ET, to discuss its first-quarter earnings for 2021, which end on March 31, 2021. The earnings report will be released after market close on May 5, 2022. Interested listeners can join the call via the Centrus website, with a replay available until May 16, 2022. Centrus Energy is a leading supplier of nuclear fuel, contributing to the growing demand for clean energy.
Centrus Energy Corp. (NYSE: LEU) reported strong financial results for 2021, achieving a net income of $175 million, or $9.75 per diluted share, a significant increase of 222% compared to 2020. Total revenues reached $298.3 million, up 21% year-over-year, driven by growth in the low-enriched uranium (LEU) segment. The company raised $44.2 million through an equity offering and retired all preferred shares, enhancing its balance sheet. Additionally, the order book value rose to $986 million, bolstered by new sales contracts.
Centrus Energy Corp. (NYSE American: LEU) will host its quarterly conference call on March 11, 2022, at 8:30 a.m. ET. This call will discuss the fourth quarter and full year earnings report for 2021, which will be released after market close on March 10, 2022. The live webcast can be accessed at https://investors.centrusenergy.com/ and will remain archived until March 21, 2022. Centrus Energy is a key supplier of nuclear fuel, committed to providing reliable, clean energy solutions.
Centrus Energy Corp. (NYSE American: LEU) announced the redemption of all outstanding Series B Senior Preferred Stock as of December 15, 2021. This milestone follows a successful tender offer and consent solicitation conducted in November. According to CEO Daniel B. Poneman, this move strengthens the company's balance sheet for long-term success. Centrus continues to supply nuclear fuel and services, contributing to sustainable energy production by providing over 1,750 reactor years of fuel since 1998.
Centrus Energy Corp (NYSE-American: LEU) has successfully collaborated with Clean Core Thorium Energy and Texas A&M to fabricate the first sample pellets of a new nuclear fuel, ANEEL. This advanced fuel combines thorium with High-Assay, Low-Enriched Uranium (HALEU) and offers significant waste reduction capabilities—up to 80% less waste for CANDU reactors. With 48 CANDU reactors globally, this development could open new markets for Centrus. Plans for further testing at Idaho National Laboratory and commercial production by late 2024 underscore the potential for HALEU demand growth.
Centrus Energy Corp. (NYSE American: LEU) announced the final results of its tender offer to purchase all outstanding Series B Senior Preferred Stock at $1,145.20 per share, concluding on November 18, 2021. A total of 36,867 shares were tendered, representing 97.4% of the outstanding shares, amounting to an aggregate purchase price of $42.2 million. The company also received the required consent for the Series B Preferred Amendment. Payment for the shares was completed on November 23, 2021. Centrus will redeem any remaining Series B Preferred Shares.
Centrus Energy Corp. (NYSE American: LEU) announced preliminary results of its tender offer to acquire its Series B Senior Preferred Stock at $1,145.20 per share. A total of 36,867 shares were tendered, accounting for 97.4% of outstanding Series B shares as of September 30, 2021. The total expected expense for this acquisition is $42.2 million. With over 90% consent obtained for the Series B Preferred Amendment, Centrus plans to redeem remaining preferred shares post-offer. Payment for shares is expected around November 23, 2021.
Oklo Inc. and Centrus Energy Corp. have entered into a non-binding Letter of Intent to collaborate on establishing a High-Assay, Low-Enriched Uranium (HALEU) production facility. This initiative aims to meet the growing demand for advanced fuel materials for existing and next-generation fission power plants. Centrus is currently developing the first NRC-licensed HALEU production facility in Piketon, Ohio, expected to begin operations in 2022. This partnership signifies a vital step towards building a domestic supply chain for HALEU, essential for Oklo's upcoming advanced fission power plant deployments.
Centrus Energy Corp. (NYSE American: LEU) reported a net income of $42.1 million for Q3 2021, reversing a $7.0 million loss from Q3 2020. Revenue reached $91.3 million, with a $57.7 million increase year-over-year. Key factors include $43.5 million from pension cost settlements and a 126% increase in SWU sold, although uranium sales decreased by $10.5 million. The gross profit soared to $49.5 million from a loss of $0.8 million, with a cash balance of $171.0 million at quarter's end.
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