Financial Performance - Total revenue for Q1 2023 was $66.9 million, a significant increase from $35.3 million in Q1 2022, representing an increase of 89%[27] - Revenue from separative work units was $58.8 million in Q1 2023, compared to $12.8 million in Q1 2022, indicating a growth of 359%[27] - Gross profit for Q1 2023 was $23.0 million, up from $6.3 million in Q1 2022, reflecting a gross margin improvement[27] - Net income for Q1 2023 was $7.2 million, compared to a net loss of $0.4 million in Q1 2022, marking a turnaround in profitability[27] - Basic net income per share for Q1 2023 was $0.49, compared to a loss of $0.03 per share in Q1 2022[27] - Revenue from SWU and uranium sales increased significantly to $58.8 million in Q1 2023, up from $17.7 million in Q1 2022, with U.S. sales contributing $58.7 million[35] - The LEU segment generated revenue of $58.8 million in Q1 2023, compared to $17.7 million in Q1 2022, marking a growth of 232%[84] - Major customers in the LEU segment contributed $41.6 million and $8.4 million to revenue in Q1 2023, while a customer in the Technical Solutions segment contributed $8.0 million[85] Assets and Liabilities - Total current assets decreased to $577.0 million as of March 31, 2023, from $587.1 million as of December 31, 2022[26] - Total liabilities decreased to $733.5 million as of March 31, 2023, from $779.6 million as of December 31, 2022[26] - The company reported a stockholders' deficit of $44.5 million as of March 31, 2023, improving from a deficit of $74.1 million as of December 31, 2022[26] - The company has significant long-term liabilities, including $84.1 million in postretirement health and life benefit obligations[26] - The total liability of borrowed inventory as of March 31, 2023, was $83.2 million, up from $58.6 million at December 31, 2022[51] - The Company holds inventories valued at $209.4 million as of March 31, 2023, compared to $192.2 million at December 31, 2022[49] Cash Flow and Expenditures - Cash used in operating activities improved to $(9.7) million in Q1 2023 from $(12.6) million in Q1 2022[29] - The company's cash, cash equivalents, and restricted cash increased to $221.3 million at the end of Q1 2023, up from $180.9 million at the end of Q1 2022[29] - Capital expenditures for Q1 2023 were $(0.3) million, slightly higher than $(0.1) million in Q1 2022[29] - The company issued common stock, generating proceeds of $22.0 million in Q1 2023[29] - As of March 31, 2023, the Company reported total cash, cash equivalents, and restricted cash of $221.3 million, an increase from $212.4 million as of December 31, 2022[47] Segment Performance - The Technical Solutions segment revenue is recognized over the contractual period as services are rendered, contributing to the overall financial performance[42] - The Technical Solutions segment reported revenue of $8.1 million in Q1 2023, a decrease from $17.6 million in Q1 2022, indicating a decline of 54%[84] - The Technical Solutions segment experienced a gross loss of $0.9 million in Q1 2023, down from a gross profit of $3.4 million in Q1 2022[84] - The LEU segment's gross profit was $23.9 million in Q1 2023, compared to $2.9 million in Q1 2022, showing an increase of 726%[84] Legal and Regulatory Matters - The company is involved in ongoing legal proceedings related to environmental contamination claims, with the case currently in the discovery stage[80] - The Company believes that its operations at the Portsmouth GDP site were fully compliant with NRC regulations, despite ongoing legal proceedings related to alleged radiation releases[82] - The Company has invoked indemnification under the Price-Anderson Act regarding ongoing legal claims[82] - Risks related to geopolitical conflicts and economic conditions could impact future operations and financial performance[18] Future Contracts and Commitments - The Order Book for future SWU and uranium deliveries is approximately $1.0 billion as of March 31, 2023, with contracts extending to 2029[40] - The Company has received aggregate cash payments of $171.1 million under the HALEU Demonstration Contract through March 31, 2023[43] - The HALEU Operation Contract awarded by the DOE has a base contract value of approximately $150 million, with Phase 1 requiring a cost share contribution of about $30 million from both the Company and the DOE[44] - Phase 2 of the HALEU Operation Contract includes an annual production rate of 900 kilograms of HALEU UF by December 31, 2024, with an expected contract value of approximately $90 million[44] - The company has commitments under the TENEX Supply Contract that could extend through 2028 due to rescheduling rights exercised[71] - The Orano Supply Agreement for SWU runs through 2030, providing flexibility to adjust purchase volumes[74] Pension and Benefit Costs - Interest costs for defined benefit pension plans rose to $7.0 million in Q1 2023 from $4.8 million in Q1 2022[58] - Net periodic benefit credits for defined benefit pension plans improved to $(0.1) million in Q1 2023 from $(3.4) million in Q1 2022[58] - Interest costs for postretirement health and life benefit plans increased to $1.2 million in Q1 2023 from $0.9 million in Q1 2022[59] Market Risks - There have been no material changes to market risks from those discussed in the Annual Report for the year ended December 31, 2022[165]

Centrus Energy Corp. (NYSE:LEU) Q1 2023 Earnings Conference Call May 9, 2023 8:30 AM ET Company Participants Dan Leistikow - VP, Corporate Communications Dan Poneman - President and CEO Philip Strawbridge - CFO Conference Call Participants Rob Brown - Lake Street Capital Markets Joseph Reagor - ROTH MKM Operator Greetings and welcome to the Centrus Energy First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal pre ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 Commission file number 1-14287 Centrus Energy Corp. Delaware 52-2107911 (State of incorporation) (IRS Employer Identification No.) 6901 Rockledge Drive, Suite 800, Bethesda, Maryland 20817 (301) 564-3200 Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbo ...

Centrus Energy Corp. (NYSE:LEU) Q4 2022 Earnings Conference Call February 22, 2023 8:30 AM ET Company Participants Dan Leistikow - Vice President Corporate Communications Dan Poneman - President and Chief Executive Officer Philip Strawbridge - Chief Financial Officer Conference Call Participants Rob Brown - Lake Street Capital Joseph Reagor - ROTH Capital Partners Operator Greetings. Welcome to the Centrus Energy Fourth Quarter Year-End 2022 Earnings Call. At this time, all participants are in a listen-only ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-14287 Centrus Energy Corp. Delaware 52-2107911 (State of incorporation) (I.R.S. Employer Identification No.) 6901 Rockledge Drive, Suite 800, Bethesda, Maryland 20817 (301 ...

Centrus Energy Corp. (NYSE:LEU) Q3 2022 Earnings Conference Call November 9, 2022 8:30 AM ET Company Participants Dan Leistikow - Vice President, Corporate Communications Dan Poneman - President & Chief Executive Officer Philip Strawbridge - Chief Financial Officer Conference Call Participants Rob Brown - Lake Street Capital Joseph Reagor - ROTH Capital Partners Operator Greetings and welcome to the Centrus Energy Third Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. A ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-14287 Centrus Energy Corp. Delaware 52-2107911 (State of incorporation) (I.R.S. Employer Identification No.) 6901 Rockledge Drive, Suite 800, Bethesda, Maryland 20817 (301) 564-3200 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-14287 Centrus Energy Corp. Delaware 52-2107911 (State of incorporation) (I.R.S. Employer Identification No.) 6901 Rockledge Drive, Suite 800, Bethesda, Maryland 20817 (301) 56 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 Commission file number 1-14287 Centrus Energy Corp. Delaware 52-2107911 (State of incorporation) (IRS Employer Identification No.) 6901 Rockledge Drive, Suite 800, Bethesda, Maryland 20817 (301) 564-3200 Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbo ...

[PART I – FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements and accompanying notes for the period ended September 30, 2021 [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet shows total assets of $487.2 million and a significant reduction in the total stockholders' deficit Condensed Consolidated Balance Sheet Highlights (in millions) | Balance Sheet Item | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | **Total Current Assets** | $414.2 | $406.1 | | **Total Assets** | $487.2 | $486.3 | | **Total Current Liabilities** | $335.2 | $366.1 | | **Total Liabilities** | $716.3 | $806.9 | | **Total Stockholders' Deficit** | $(229.1) | $(320.6) | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported a net income of $42.1 million in Q3 2021, a major turnaround driven by a substantial revenue increase Statement of Operations Highlights (in millions, except per share data) | Metric | Q3 2021 | Q3 2020 | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | $91.3 | $33.6 | $209.3 | $154.3 | | **Gross Profit (Loss)** | $49.5 | $(0.8) | $78.3 | $62.6 | | **Operating Income (Loss)** | $38.2 | $(9.5) | $46.6 | $30.4 | | **Net Income (Loss)** | $42.1 | $(7.0) | $58.8 | $38.0 | | **Diluted EPS** | $2.95 | $(0.83) | $3.66 | $3.12 | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash from operations was $0.8 million for the nine-month period, with an overall $19.0 million increase in cash and cash equivalents Cash Flow Summary (in millions) | Cash Flow Activity | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | **Cash provided by operating activities** | $0.8 | $5.2 | | **Cash (used in) investing activities** | $(0.7) | $(0.9) | | **Cash provided by financing activities** | $18.9 | $17.8 | | **Increase in cash, cash equivalents and restricted cash** | $19.0 | $22.1 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail revenue disaggregation, the HALEU contract status, the LEU order book, and a subsequent tender offer - The LEU segment's sales order book was approximately **$1 billion** as of September 30, 2021, extending to 2030[22](index=22&type=chunk) - Technical solutions revenue for Q3 and YTD 2021 includes **$43.5 million** from a settlement with the DOE for past pension and postretirement benefits costs[32](index=32&type=chunk)[66](index=66&type=chunk) - The HALEU Contract is experiencing increased costs of approximately **$10 million** and delays, with production now expected to begin in mid-2022[29](index=29&type=chunk) - Subsequent to the quarter end, on October 20, 2021, the company commenced a tender offer to purchase all outstanding **Series B Senior Preferred Stock**[75](index=75&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes performance across its LEU and technical solutions segments, focusing on revenue drivers and capital structure [Overview](index=24&type=section&id=Overview) The company operates in LEU and technical solutions, with a focus on the HALEU demonstration contract and capital structure improvements - Centrus operates two business segments: **low-enriched uranium (LEU)** and **technical solutions**[80](index=80&type=chunk) - The company is deploying a HALEU demonstration cascade under a cost-share contract with the DOE, but is experiencing increased costs of approximately **$10 million** and supply chain delays, pushing the start of production to mid-2022[88](index=88&type=chunk)[89](index=89&type=chunk) - In the nine months ended Sep 30, 2021, the company raised **$27.6 million in net proceeds** from the sale of 1.24 million shares of Class A Common Stock[97](index=97&type=chunk) - On October 20, 2021, the company launched a tender offer to purchase all outstanding **Series B Senior Preferred Stock**[99](index=99&type=chunk) [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Q3 2021 revenue grew 172% to $91.3 million, boosted by a $43.5 million DOE settlement in the technical solutions segment Segment Revenue and Gross Profit (in millions) | Segment | Metric | Q3 2021 | Q3 2020 | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | :--- | :--- | :--- | | **LEU** | Revenue | $32.0 | $18.7 | $115.3 | $112.8 | | | Gross Profit (Loss) | $8.3 | $(0.9) | $39.2 | $61.0 | | **Technical Solutions** | Revenue | $59.3 | $14.9 | $94.0 | $41.5 | | | Gross Profit | $41.2 | $0.1 | $39.1 | $1.6 | | **Total** | Revenue | $91.3 | $33.6 | $209.3 | $154.3 | | | Gross Profit (Loss) | $49.5 | $(0.8) | $78.3 | $62.6 | - Technical solutions revenue in Q3 2021 included a **$43.5 million settlement** with the DOE; excluding this, revenue for the segment increased due to more work on the HALEU and X-energy contracts[134](index=134&type=chunk) - LEU segment gross profit for YTD 2021 was $39.2 million, compared to $61.0 million in YTD 2020; the 2020 period included a one-time **$32.4 million revenue recognition** from a customer bankruptcy settlement[140](index=140&type=chunk) - SG&A expenses increased by $2.3 million in Q3 2021, mainly due to a **$2.2 million remeasurement** of long-term incentive compensation obligations tied to the company's stock price[145](index=145&type=chunk) [Liquidity and Capital Resources](index=41&type=section&id=Liquidity%20and%20Capital%20Resources) The company ended Q3 with a $171.0 million cash balance and believes it has adequate liquidity for the next twelve months - The company ended Q3 2021 with a consolidated cash balance of **$171.0 million**[159](index=159&type=chunk) Working Capital Summary (in millions) | Component | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Cash and cash equivalents | $171.0 | $152.0 | | Inventories, net | $73.0 | $59.9 | | **Working capital** | **$79.0** | **$40.0** | - The company commenced a tender offer to purchase all outstanding Series B Preferred Shares at $1,145.20 per share, with a potential aggregate cost of **$43.3 million**[178](index=178&type=chunk) [Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective with no material changes in internal controls - Based on an evaluation as of September 30, 2021, the CEO and CFO concluded that the Company's disclosure controls and procedures were **effective**[186](index=186&type=chunk) - **No material changes** in internal control over financial reporting occurred during the quarter ended September 30, 2021[187](index=187&type=chunk) [PART II – OTHER INFORMATION](index=47&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) [Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 11 of the financial statements for information regarding the company's legal proceedings - For details on legal proceedings, the report refers to **Note 11, Commitments and Contingencies — Legal Matters**, in Part I of the financial statements[190](index=190&type=chunk) [Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) This section highlights material risks related to the HALEU contract, including future funding and operational uncertainties - A key risk is the uncertainty of obtaining the full benefit of the HALEU Contract and being able to operate the enrichment facility after the **contract's completion in 2022**[192](index=192&type=chunk) - The DOE is considering moving the operational portion of the HALEU demonstration to a new, **competitively-awarded contract**, and there is no assurance Centrus will win this contract[193](index=193&type=chunk) - **Failure to secure U.S. government or other funding** to continue operating the Piketon facility could have a material adverse effect on the company's business and financial condition[194](index=194&type=chunk) [Exhibits](index=48&type=section&id=Item%206.%20Exhibits) This section lists key exhibits filed with the Form 10-Q, including agreements, amendments, and required certifications - Exhibits filed include compensation agreements, the **DOE settlement agreement** dated September 7, 2021, a lease amendment with the DOE, and CEO/CFO certifications[195](index=195&type=chunk)