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Centrus Energy Corp. Class A (LEU-6.08%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing an increase in revenue to $442.0 million from $320.2 million in the previous year. This increase is attributed to higher sales in both the LEU and Technical Solutions segments.
Cost of sales for the year was $330.5 million, compared to $208.1 million in the previous year. This increase is due to higher unit costs of separative work units (SWU) and uranium sold.
The company reported a gross profit of $111.5 million for the year, compared to $112.1 million in the previous year, with the slight decline attributed to increased costs.
Net income for the year was $73.2 million, down from $84.4 million in the previous year. The decrease is primarily due to lower nonoperating income and higher interest expenses.
Centrus Energy Corp. has announced plans to expand its manufacturing capacity in Oak Ridge, Tennessee, with an investment of $60.0 million over 18 months.
The company continues to face risks related to the war in Ukraine, including potential sanctions and restrictions on the importation of Russian low-enriched uranium (LEU).
Centrus has secured waivers from the U.S. Department of Energy to import Russian LEU for deliveries in 2024 and 2025, but future imports remain uncertain.
The filing also details various financial agreements, including a $402.5 million issuance of 2.25% Convertible Notes due in 2030.
Centrus Energy Corp. is exploring opportunities to deploy LEU enrichment alongside high-assay low-enriched uranium (HALEU) enrichment to meet commercial and government requirements.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Centrus Energy Corp. Class A annual 10-K report dated February 7, 2025. To report an error, please email earnings@qz.com.