Centrus Energy Corp. Reports 67% Revenue Increase and $27.2 Million Net Income in Latest Quarter

Centrus Energy Corp. reported significant financial improvements in its latest quarterly results, with total revenue reaching $73.1 million for the three months ended March 31, 2025, compared to $43.7 million in the same period last year, marking a 67% increase. The company's net income for the quarter was $27.2 million, a substantial turnaround from a net loss of $6.1 million in the prior year. This positive shift was primarily driven by a 117% increase in revenue from the Separative Work Units (SWU) segment, which generated $51.3 million, up from $23.6 million in the previous year, attributed to both higher sales volume and increased average prices.

Centrus also experienced notable changes in its operational metrics. The company’s gross profit surged to $32.9 million, a 665% increase from $4.3 million in the prior year, largely due to improved performance in the LEU segment. The Technical Solutions segment, however, saw a decline in gross profit, dropping to $1.7 million from $3.8 million, primarily due to increased costs associated with the HALEU Operation Contract. The company’s total assets increased to $1.29 billion, up from $1.09 billion at the end of 2024, reflecting a robust cash position of $653 million.

Strategically, Centrus has made significant advancements in its HALEU production capabilities. The company transitioned to Phase 2 of the HALEU Operation Contract, which includes a target production of 900 kilograms of HALEU UF6 per year. The contract's value has been increased to approximately $152.3 million, with the DOE assuming all decontamination and decommissioning liabilities associated with the contract. Additionally, Centrus has resumed centrifuge manufacturing activities at its Oak Ridge facility, investing approximately $60 million over 18 months to support potential large-scale uranium enrichment expansion.

The company’s operational indicators also reflect growth, with a backlog of $3.8 billion as of March 31, 2025, extending to 2040. This backlog includes significant long-term contracts for LEU and HALEU, providing a stable revenue outlook. However, Centrus faces challenges due to geopolitical factors, including the ongoing war in Ukraine and the enactment of the Import Ban Act, which restricts imports of LEU from Russia. The company is actively pursuing waivers to mitigate these impacts and ensure continued supply to its customers.

Looking ahead, Centrus remains optimistic about its growth prospects, driven by increasing demand for nuclear energy and the expansion of its production capabilities. The company is focused on securing additional contracts and funding to enhance its operational capacity and meet the evolving needs of the nuclear power industry. However, uncertainties related to market conditions, regulatory changes, and geopolitical tensions may influence its future performance.