Centrus Energy (US:LEU)2025-05-07 21:19Financial Performance - Centrus reported a net income of $27.2 million for Q1 2025, compared to a net loss of $6.1 million in Q1 2024, representing a significant turnaround [5]. - Total revenue for Q1 2025 was $73.1 million, an increase of $29.4 million (or 67%) from $43.7 million in Q1 2024 [4]. - The gross profit for Q1 2025 was $32.9 million, a substantial increase of $28.6 million (or 665%) from $4.3 million in Q1 2024 [9]. - Operating income for Q1 2025 was $20.5 million, a turnaround from an operating loss of $10.6 million in Q1 2024 [24]. - Net income for Q1 2025 was $27.2 million, compared to a net loss of $6.1 million in Q1 2024, reflecting a strong recovery [24]. - The company reported earnings per share of $1.60 for Q1 2025, compared to a loss per share of $0.38 in Q1 2024 [24]. - Cash provided by operating activities increased to $36.5 million in Q1 2025, compared to $5.3 million in Q1 2024 [25]. Revenue Segments - Revenue from the LEU segment increased by $27.7 million (or 117%) to $51.3 million in Q1 2025, driven by a 46% increase in the average price and a 49% increase in volume of SWU sold [4]. - Separative work units revenue increased to $51.3 million in Q1 2025 from $23.6 million in Q1 2024, showing strong demand [24]. - Technical solutions revenue rose to $21.8 million in Q1 2025, slightly up from $20.1 million in Q1 2024 [24]. Financial Position - The company maintains a consolidated cash balance of $653.0 million as of March 31, 2025, providing a solid financial foundation for future operations [5]. - Total current assets rose to $1,222.7 million as of March 31, 2025, up from $1,015.2 million at the end of 2024, reflecting a growth of approximately 20.5% [26]. - Total liabilities increased to $1,080.0 million as of March 31, 2025, up from $932.0 million at the end of 2024, representing a growth of 15.9% [26]. - Stockholders' equity improved to $213.9 million in Q1 2025, compared to $161.4 million at the end of 2024, an increase of 32.5% [26]. Debt Management - The company retired $74.3 million of higher-interest rate debt, resulting in a gain of $11.8 million in Q1 2025 [5]. - Long-term debt decreased to $389.5 million as of March 31, 2025, down from $472.5 million at the end of 2024, a reduction of 17.6% [26]. Inventory and Receivables - Inventories increased significantly to $429.6 million in Q1 2025, compared to $161.6 million in Q4 2024, marking a rise of 165.2% [26]. - The company reported a significant increase in accounts receivable, which rose to $38.7 million in Q1 2025 from $80.0 million in Q4 2024 [26]. Future Prospects - Centrus has been awarded contracts with a maximum aggregate value of $2.7 billion for HALEU production, indicating strong future revenue potential [13]. - Centrus is positioned to expand domestic nuclear fuel production with $3.4 billion in federal funding, emphasizing the importance of U.S.-owned technology and supply chains [3]. - The backlog for Centrus stood at $3.8 billion as of March 31, 2025, with the LEU segment backlog approximately $2.8 billion [16].