Group 1 - Centrus Energy reported Q3 2025 sales of $74.9 million, missing analysts' expectations of $80.4 million, and posted diluted EPS of $0.19 compared to the expected $0.36 [4][8] - The company announced plans to raise up to $1 billion through an at-the-market equity offering, which has contributed to negative investor sentiment [5][8] - Shares of Centrus Energy are down 13.2% as of the latest trading session, reflecting market reaction to the disappointing financial results and equity offering [2][6] Group 2 - Despite the recent downturn, Centrus Energy has seen a significant increase in its stock price, rising over 300% since the beginning of the year [6][7] - The company is expanding operations at its uranium enrichment plant in Piketon, Ohio, to support increased production of low-enriched uranium (LEU) and high-assay, low-enriched uranium (HALEU) [5][7] - Analysts suggest that investors may want to wait for a further dip in stock price before considering a position in Centrus Energy, as the current valuation stands at 83 times forward earnings [7][8]

Financial Data and Key Metrics Changes - In Q3 2025, the company achieved revenue of $74.9 million, a 30% increase from the same quarter last year, which was $57.7 million [13] - The company reported a gross loss of $4.3 million compared to a gross profit of $8.9 million in Q3 2024 [14] - Net income for Q3 2025 was $3.9 million, a significant improvement from a net loss of $5 million in the same period last year [15] - Year-to-date net income for 2025 reached $60 million, compared to $19.5 million during the same period last year [15] - The total company backlog stood at $3.9 billion as of September 30, 2025, extending to 2040 [16] Business Line Data and Key Metrics Changes - The LEU segment generated $44.8 million in Q3 2025, an increase of 29% or $10 million compared to Q3 2024, driven by increased uranium sales volume [13] - The technical solutions segment delivered revenue of $30.1 million in Q3 2025, a 31% increase over Q3 2024, attributed to LEU sales to the DOE [13] Market Data and Key Metrics Changes - The published spot price for LEU SWU soared to $220, near historic levels, indicating strong demand for U.S.-owned enrichment capacity [19] - The Nuclear Energy Institute identified over 8 gigawatts of expected additional generation from the existing fleet, indicating a growing market for nuclear power [18] Company Strategy and Development Direction - The company is focused on strengthening its operational preparations and capitalizing on growth opportunities, including a $1 billion at-the-market program to raise funds ahead of planned expansion [10][11] - The company aims to secure funding through public-private partnerships, leveraging potential task order awards under its LEU enrichment contract [6][8] - The company is actively pursuing readiness initiatives to prepare for large-scale deployment of its technology [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growing demand for nuclear power, driven by investments from technology giants and government initiatives [18] - The company anticipates a tight market for enrichment in the late 2020s and early 2030s, reinforcing its business model [36] - Management highlighted the importance of securing commitments from customers to support future expansion plans [65] Other Important Information - The company closed an oversubscribed convertible senior note transaction, increasing its unrestricted cash balance to over $1.6 billion [8] - The company has signed agreements with KHNP and POSCO International for potential investment in its enrichment capacity [9] Q&A Session Summary Question: National security opportunity and NNSA's Notice of Intent - Management acknowledged the NNSA's intent to sole source award and expressed readiness to support national security missions [23][24] Question: Readiness efforts at Piketon - Management confirmed that readiness efforts for planned build-out are progressing rapidly, including hiring and operational studies [28][29] Question: Impact of waivers for 2026 and 2027 on political commentary - Management indicated no official updates on the January 1, 2028 deadline for Russian imports but emphasized the growing demand for enrichment [34][36] Question: Dynamics of SWU prices - Management noted that SWU prices are expected to rise due to increasing demand and limited new capacity [46][47] Question: Korean investment and third-party capital - Management confirmed ongoing discussions with private sector investors and emphasized the importance of maximizing public-private partnerships [58][59] Question: Expansion signals and SWU pricing - Management stated that further expansion will depend on market commitments and highlighted the current favorable SWU pricing environment [62][65]

Investor Presentation November 2025 Forward-Looking Statements Disclaimer: Our commentary and responses to your questions may contain forward-looking statements, including our financial projections, within the meaning of Section 21E of the Securities Exchange Act of 1934. Centrus undertakes no obligation to update any such statement to reflect later developments. Factors that could cause actual results to vary materially from those discussed today include risks related to: the refusal or inability of Russia ...

Core Viewpoint - Centrus Energy Corp. has announced an at-the-market equity offering sales agreement to sell up to $1,000,000,000 of its Class A common stock, which will be used for general working capital and corporate purposes [1][2]. Group 1: Offering Details - The equity offering will be conducted at prevailing market prices, with parameters set by Centrus regarding the number of shares, sale dates, and pricing limits [2]. - Centrus is not obligated to sell any shares under this program, but any proceeds will potentially be used for technology development, debt repayment, capital expenditures, and acquisitions [2]. - The sales agents for this offering include Barclays, Citi, UBS Investment Bank, and Evercore ISI, among others [3]. Group 2: Regulatory and Compliance - The shares will be issued under Centrus' Registration Statement on Form S-3ASR, which became effective upon filing with the SEC [6]. - The offering will comply with the Securities Act of 1933, and sales will be made through NYSE American LLC or other trading markets [4]. Group 3: Company Background - Centrus Energy Corp. is a supplier of nuclear fuel components, providing over 1,850 reactor years of fuel since 1998, equivalent to more than 7 billion tons of coal [8]. - The company is focused on producing High-Assay, Low-Enriched Uranium and aims to restore uranium enrichment capabilities in the U.S. to meet clean energy and national security needs [8].

Geopolitical and Regulatory Risks - The company faces significant risks related to geopolitical conflicts, particularly the war in Ukraine, which could impact its financial position and ability to deliver LEU[14]. - Risks include potential sanctions or restrictions on imports of Russian LEU into the United States, which could affect the company's supply contracts[14]. - The company is dependent on TENEX for the delivery of LEU, and any refusal or inability from TENEX to deliver could negatively impact operations[16]. - There are risks associated with the company's ability to secure additional U.S. government waivers to continue importing Russian LEU under existing contracts[14]. - The company must navigate complex regulatory environments and potential changes in government policies that could affect its business[23]. Financial Performance - Total revenue for the three months ended September 30, 2025, was $74.9 million, an increase of 29.4% compared to $57.7 million for the same period in 2024[25]. - Net income for the nine months ended September 30, 2025, was $60.0 million, compared to $19.5 million for the same period in 2024, representing a growth of 207.7%[27]. - Cash and cash equivalents increased to $1,634.6 million as of September 30, 2025, from $226.9 million at the end of the same period in 2024, marking a significant increase of 620.5%[27]. - Total assets rose to $2,244.9 million as of September 30, 2025, compared to $1,093.4 million as of December 31, 2024, reflecting an increase of 105.3%[24]. - Total liabilities increased to $1,881.8 million as of September 30, 2025, from $932.0 million as of December 31, 2024, which is an increase of 101.1%[24]. - Gross profit for the nine months ended September 30, 2025, was $82.5 million, compared to $49.7 million for the same period in 2024, indicating a growth of 65.9%[25]. - The company reported a basic net income per share of $3.40 for the nine months ended September 30, 2025, compared to $1.21 for the same period in 2024, an increase of 180.2%[25]. - Operating income for the nine months ended September 30, 2025, was $37.4 million, compared to $2.9 million for the same period in 2024, representing a significant improvement[25]. Capital Expenditures and Investments - The company had capital expenditures of $10.1 million for the nine months ended September 30, 2025, compared to $3.4 million for the same period in 2024, indicating increased investment in growth[27]. - The company raised $782.4 million from the issuance of 0% Convertible Senior Notes during the nine months ended September 30, 2025, enhancing its financial position[27]. Revenue Segments - Revenue from SWU and uranium sales for the three months ended September 30, 2025, was $44.8 million, a significant increase from $34.8 million in the same period of 2024[38]. - The Technical Solutions segment revenue is recognized over time, reflecting the performance obligations satisfied[39]. - Total revenue for the nine months ended September 30, 2025, was $221.8 million, slightly down from $228.0 million in the same period of 2024[38]. - The LEU segment generated $51.1 million in revenue for the three months ended September 30, 2025, compared to $34.8 million in 2024, marking a 47.0% increase[121]. - The Technical Solutions segment reported revenue of $30.1 million for the three months ended September 30, 2025, up from $22.9 million in 2024, reflecting a 31.4% increase[121]. Debt and Equity - The company has $1,207.5 million in total debt, with $6.1 million classified as current and $1,201.4 million as long-term[58]. - The company issued $402.5 million of 2.25% Convertible Notes due November 1, 2030, and $805.0 million of 0% Convertible Notes due August 15, 2032[59]. - The carrying amount of the 0% Convertible Notes as of September 30, 2025, is $782.9 million, net of unamortized debt discounts and deferred issuance costs of $22.1 million[60]. - The company redeemed all 8.25% Notes on March 26, 2025, at a total redemption price of $74.3 million, recording a gain of $11.8 million related to the extinguishment of the long-term debt[71]. - The total interest expense for the nine months ended September 30, 2025, is $8.8 million[58]. Legal and Compliance Matters - The Company is involved in ongoing legal proceedings, including a class action complaint related to alleged off-site contamination from the Portsmouth GDP site[115]. - The Company believes its operations at the Portsmouth GDP site comply with NRC regulations and seeks indemnification under the Price-Anderson Act for potential liabilities[116]. - Centrus does not anticipate that the outcome of ongoing legal proceedings will have a material adverse effect on its cash flows or financial condition[119]. Future Outlook and Strategy - The company expects to continue its focus on uranium enrichment and advanced manufacturing services to drive future revenue growth[37]. - The Company filed a shelf registration statement allowing for the sale of up to $200.0 million in securities, providing flexibility for future capital needs[93]. - The Company intends to use net proceeds from securities sales for working capital, technology development, debt repayment, and potential acquisitions[97].

Core Insights - Centrus Energy Corp. reported quarterly earnings of $0.19 per share, missing the Zacks Consensus Estimate of $0.20 per share, compared to a loss of $0.30 per share a year ago, indicating an earnings surprise of -5.00% [1] - The company posted revenues of $74.9 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 6.18%, but showing an increase from $57.7 million in the same quarter last year [2] - Centrus Energy shares have increased approximately 391.2% since the beginning of the year, significantly outperforming the S&P 500's gain of 15.1% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.16 on revenues of $148.82 million, and for the current fiscal year, it is $4.31 on revenues of $456.26 million [7] - The estimate revisions trend for Centrus Energy was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Mining - Non Ferrous industry, to which Centrus Energy belongs, is currently in the top 12% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - United States Antimony Corporation, another company in the same industry, is expected to report quarterly earnings of $0.02 per share, reflecting a year-over-year change of +300%, with revenues anticipated to be $12.5 million, up 416.5% from the previous year [9][10]

Core Insights - Centrus Energy Corp. reported mixed third-quarter earnings, with earnings per share of 19 cents, surpassing the consensus estimate of 8 cents, but revenue of $74.9 million fell short of the expected $79.43 million [2][3] Financial Performance - The LEU segment generated revenue of $44.8 million for the three months ended September 30, 2025, marking an increase of $10 million (or 29%) compared to $34.8 million in the same period of 2024 [5] - Uranium revenue for the same period was $34.1 million, while SWU revenue decreased by $24.1 million due to a 69% drop in the average price of SWU sold [5] - Revenue from the Technical Solutions segment rose to $30.1 million, up from $22.9 million, reflecting a 31% increase [5] Market Context - CEO Amir Vexler highlighted the strong year-to-date financial results and significant progress in preparation for enrichment build-out, indicating a positive outlook for the company's operations [3] - With LEU SWU prices at historic highs, there is an increasing market demand for U.S.-owned enrichment supply to meet both commercial and national security needs [4]

Financial Performance - Centrus reported a net income of $3.9 million for Q3 2025, compared to a net loss of $5.0 million in Q3 2024, marking a significant turnaround [2][5]. - Total revenue for Q3 2025 was $74.9 million, an increase of $17.2 million (or 30%) from $57.7 million in Q3 2024 [4][5]. - Revenue from the LEU segment increased to $44.8 million, up $10.0 million (or 29%) from $34.8 million in Q3 2024 [6]. - Revenue from the Technical Solutions segment rose to $30.1 million, an increase of $7.2 million (or 31%) primarily due to the HALEU production contract with the DOE [7]. - Total revenue for Q3 2025 was $74.9 million, a 29.9% increase from $57.7 million in Q3 2024 [23]. - Revenue from separative work units decreased to $10.7 million in Q3 2025 from $34.8 million in Q3 2024, representing a 69.3% decline [23]. - Technical solutions revenue increased to $30.1 million in Q3 2025, up 31.4% from $22.9 million in Q3 2024 [23]. - Gross loss for Q3 2025 was $4.3 million compared to a gross profit of $8.9 million in Q3 2024 [23]. - Operating loss for the nine months ended September 30, 2025, was $16.6 million, compared to a loss of $7.6 million for the same period in 2024 [23]. - Net income for the nine months ended September 30, 2025, was $60.0 million, significantly up from $19.5 million in the same period of 2024 [23]. - Basic net income per share for Q3 2025 was $0.21, compared to a loss of $0.30 per share in Q3 2024 [23]. Cash and Assets - The company's unrestricted cash balance increased to $1.6 billion following a successful $805 million convertible senior notes offering [5][12]. - Cash provided by operating activities was $99.4 million, compared to cash used in operating activities of $20.9 million in the prior year, indicating a positive turnaround [24]. - Total assets increased to $2,244.9 million as of September 30, 2025, up from $1,093.4 million at the end of 2024, reflecting a growth of 105.3% [25]. - Cash and cash equivalents rose to $1,631.8 million, compared to $671.4 million at the end of 2024, marking an increase of 142.7% [25]. - Inventories increased to $416.3 million as of September 30, 2025, compared to $161.6 million at the end of 2024, reflecting a growth of 157.5% [25]. Costs and Expenses - Cost of sales for the LEU segment increased to $52.6 million, up $23.0 million (or 78%) from $29.6 million in Q3 2024, primarily due to higher uranium sales volume [8]. - Total cost of sales for Q3 2025 was $79.2 million, up from $48.8 million in Q3 2024, reflecting a 62.3% increase [23]. - The gross profit for the LEU segment resulted in a loss of $7.8 million, a change of $13.0 million (or 250%) compared to a profit of $5.2 million in Q3 2024 [10]. Debt and Equity - Long-term debt increased to $1,173.5 million from $472.5 million, indicating a rise of 148.1% [25]. - Total stockholders' equity improved to $363.1 million, up from $161.4 million, representing an increase of 125.0% [25]. - Proceeds from the issuance of common stock, net, were $139.7 million, significantly higher than $23.4 million in the previous year [24]. - The company reported a gain on extinguishment of 8.25% Notes amounting to $11.8 million [24]. Operational Developments - Centrus secured U.S. government waivers for 2026 and 2027 Russian committed deliveries, enhancing its operational stability [5][3]. - The company's backlog reached $3.9 billion as of September 30, 2025, with the LEU segment backlog approximately $3.0 billion [13]. - Centrus announced plans for job hiring ahead of the planned expansion of its enrichment plant, indicating growth initiatives [5]. - Capital expenditures for the nine months ended September 30, 2025, were $10.1 million, compared to $3.4 million in the same period of 2024 [24].

Core Insights - Centrus Energy Corp. reported a net income of $3.9 million for Q3 2025, compared to a net loss of $5.0 million in Q3 2024, indicating a significant turnaround in financial performance [13] - The company generated total revenue of $74.9 million in Q3 2025, a 30% increase from $57.7 million in Q3 2024, driven by growth in both the LEU and Technical Solutions segments [4][6] - Centrus is making substantial progress in its enrichment build-out and has secured U.S. government import waivers for committed deliveries in 2026 and 2027 [2][3] Financial Performance - Total revenue for Q3 2025 was $74.9 million, up $17.2 million (30%) from $57.7 million in Q3 2024 [4] - Revenue from the LEU segment increased to $44.8 million, a rise of $10.0 million (29%) compared to $34.8 million in Q3 2024 [5] - The Technical Solutions segment revenue grew to $30.1 million, reflecting a $7.2 million (31%) increase from $22.9 million in Q3 2024 [6] Cost and Profitability - Cost of sales for the LEU segment rose to $52.6 million, an increase of $23.0 million (78%) from $29.6 million in Q3 2024, primarily due to higher uranium sales volume [7] - The company reported a gross loss of $4.3 million in Q3 2025, compared to a gross profit of $8.9 million in Q3 2024, marking a change of $13.2 million (148%) [8] - Gross profit for the LEU segment was a loss of $7.8 million, a decline of $13.0 million (250%) from a profit of $5.2 million in Q3 2024 [9] Backlog and Future Prospects - Centrus has a backlog of $3.9 billion as of September 30, 2025, with the LEU segment backlog approximately $3.0 billion, indicating strong future revenue potential [12] - The Technical Solutions segment backlog stands at about $0.9 billion, which includes both funded and unfunded amounts [12] - The company plans to expand its operations and has begun hiring in anticipation of this growth [3][13] Capital Structure and Financing - On August 18, 2025, Centrus issued $805 million of 0% convertible senior notes, with net proceeds of approximately $782.4 million intended for general working capital and corporate purposes [11] - The unrestricted cash balance increased to $1.6 billion following the successful convertible senior notes offering [13] - The company has strengthened its leadership team, including the appointment of a new Chief Financial Officer [13]

Core Insights - Significant bullish activity has been observed in Centrus Energy (AMEX:LEU) options trading, indicating that large investors may anticipate upcoming developments [1][2] - The overall sentiment among these investors is mixed, with 45% bullish and 31% bearish positions noted [2] - The projected price targets for Centrus Energy range from $115.0 to $420.0 over the next three months based on trading activity [3] Trading Activity - A total of 22 uncommon options trades were detected for Centrus Energy, with 14 calls amounting to $822,786 and 8 puts totaling $304,098 [2] - The average open interest for Centrus Energy options is currently at 172.0, with a total trading volume of 429.00 [4] Company Overview - Centrus Energy Corp specializes in supplying nuclear fuel and services for the nuclear power industry, operating through the Low-Enriched Uranium (LEU) and Technical Solutions segments [11] - The LEU segment is the primary revenue driver, with significant operations in the U.S. and other countries [11] Analyst Insights - An industry analyst has set an average target price of $275.0 for Centrus Energy, maintaining a Neutral rating [13][14] - Current trading volume for Centrus Energy stands at 565,793, with the stock price at $336.95, reflecting a decrease of -1.76% [16]