Centrus reports Q1 EPS 38c, consensus 60c

Reports Q1 revenue $43.7M, consensus $76.9M. “Centrus had a strong start to the year, making additional HALEU deliveries to the Department of Energy (“Department” or “DOE”) and submitting bids on two Requests for Proposals from the Department aimed at expanding its HALEU production capacity. In addition, the Company signed approximately $900 million in contingent LEU sales commitments to support the potential construction of LEU production capacity alongside our HALEU production,” said Centrus President and CEO, Amir Vexler. “Recent funding legislation enacted with wide, bipartisan support includes a $2.7 billion federal investment in domestic enrichment. With the support of a strong, public-private partnership, we look forward to scaling up production to meet the full range of commercial and national security requirements for enriched uranium, including HALEU for advanced reactors and LEU for the existing reactor fleet. While our first quarter results reflect the expected quarter-to-quarter fluctuations in our revenues and margins – largely resulting from the timing of customer deliveries – we are encouraged by the progress we are making to reclaim American leadership in uranium enrichment.”