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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) will conduct its quarterly conference call on May 12, 2021, at 8:30 a.m. ET. The first quarter earnings report, covering the period ending March 31, 2021, will be released after market close on May 11, 2021. Interested parties can access the call via the Company's website, where a replay will be available until May 21, 2021.
Centrus Energy is a key supplier in the nuclear power sector, providing over 1,750 reactor years of fuel, equivalent to 7 billion tons of coal, and advancing new centrifuge technologies.
Centrus Energy Corp. (NYSE American: LEU) reported significant financial improvements for 2020, achieving a net income of $54.4 million or $0.57 per diluted share, up from a net loss of $16.5 million in 2019. Total revenues increased 18% to $247.2 million, with the LEU segment contributing $190.5 million. The company raised $25 million through a stock offering and completed a $30.4 million pension plan annuitization. New LEU sales commitments exceeded $100 million from November to January, while cash reserves stood at $152 million.
Centrus Energy Corp. (NYSE American: LEU) will hold its quarterly conference call on March 19, 2021, at 8:30 a.m. ET. The company will release its fourth quarter earnings report for 2020 on March 18, 2021, after market close. The call will be accessible via the company's website, with a replay available until April 3, 2021. Centrus Energy supplies nuclear fuel services, emphasizing reliable and diverse sources to meet rising demands for clean energy. Since 1998, it has provided over 1,750 reactor years of fuel, equating to 7 billion tons of coal.
Centrus Energy Corp. (NYSE American: LEU) announced the final results of its tender offer to buy back up to $60 million of its Series B Senior Preferred Stock. The purchase price was set at $954.59 per share, a 25% discount from the liquidation value. The offer, which closed on November 17, 2020, was oversubscribed with 62,854 shares accepted for purchase, representing approximately 60% of the outstanding shares. A final proration factor of 67.815% was applied, with 92,735 shares tendered.
Centrus Energy Corp. (LEU) announced the preliminary results of its cash tender offer to purchase up to $60 million of its Series B Senior Preferred Stock, set at $954.59 per share, a 25% discount from the liquidation price. The offer, which expired on November 17, 2020, was oversubscribed with approximately 92,735 shares tendered. The company expects to purchase about 60% of the outstanding shares on a pro rata basis, with a preliminary proration factor of 67%. Payment for shares will be made on or around November 20.
Centrus Energy Corp. reported a net loss of $7.0 million for Q3 2020, a significant drop compared to a net income of $22.8 million in Q3 2019. The loss per share was $0.83, down from $2.18. Total revenue fell to $33.6 million, down $71.1 million year-over-year, with no SWU deliveries contributing to a 79% decline in this segment. However, the company anticipates higher revenue in Q4 2020. Cash balance at the end of Q3 was $152.8 million. Despite challenges, Centrus is on schedule for its HALEU demonstration plant completion in 2022.
Centrus Energy Corp. (NYSE: LEU) will host a quarterly conference call on November 13, 2020, at 8:30 a.m. ET, to discuss its third quarter earnings report for 2020, which will be released post-market on November 12, 2020. The call will be accessible via the Company’s website, with a playback available until November 23, 2020. Centrus has been a key supplier of nuclear fuel, providing over 1,750 reactor years of fuel since 1998, equivalent to 7 billion tons of coal. For more details, visit www.centrusenergy.com.
Centrus Energy Corp. (NYSE American: LEU) announced a tender offer to purchase up to $60 million of its Series B Senior Preferred Stock at $954.59 per share, expiring on November 17, 2020. The tender offer is not contingent on financing and will be conducted on a pro rata basis if over $60 million is tendered. As of September 30, 2020, 104,574 Series B shares were outstanding, with an aggregate liquidation preference of approximately $133.1 million. Shareholders are advised to review the tender offer documents and consult their advisors.
Terrestrial Energy USA and Centrus Energy Corp have signed a memorandum of understanding to secure fuel supply for Integral Molten Salt Reactor (IMSR) power plants. The collaboration will evaluate the logistical, regulatory, and transportation requirements for using standard-assay low-enriched uranium (LEU) fuel. The IMSR technology promises affordable, reliable, carbon-free electricity, generating 195 MW with high thermal efficiency. This partnership aims to establish a supply chain necessary for the commercial deployment of these innovative reactors.
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