LEU · Centrus Energy Corp.

Centrus Energy Corp. reported first quarter 2026 results with total revenue of $76.7 million, up 5% from $73.1 million in Q1 2025. The increase was driven by the Technical Solutions segment, which saw revenue rise 47% to $32.1 million, primarily due to a $9.8 million increase from the HALEU production contract with the DOE. The LEU segment revenue declined 13% to $44.6 million, as a 47% decrease in SWU volume sold was partially offset by a 52% increase in average SWU price. Gross profit decreased 4% to $31.5 million, with LEU gross profit down 11% to $27.9 million and Technical Solutions gross profit up 112% to $3.6 million. GAAP net income fell 63% to $10.0 million, impacted by a $15.9 million increase in advanced technology costs and an $11.8 million decrease in extinguishment of long-term debt, partially offset by higher investment income and lower income tax expense. Non-GAAP adjusted net income was $23.5 million, down from $28.6 million. Management highlighted operational progress, including the launch of a centrifuge manufacturing expansion in Oak Ridge, Tennessee, and strategic collaborations with Palantir and Fluor. The company raised its full-year 2026 revenue guidance to $450-$500 million from $425-$475 million and expects total capital deployment of $350-$500 million. Backlog stood at $3.9 billion as of March 31, 2026, extending to 2040.