Centrus Energy Corp - LEU STOCK NEWS

Centrus Energy Corp. announces the launch of the first U.S.-owned uranium enrichment plant in 70 years, leading the effort to restore America's domestic uranium supply chain. President and CEO will ring The Closing Bell® at the NYSE, celebrating the production of High-Assay, Low-Enriched Uranium (HALEU) for advanced nuclear fuel.

Centrus Energy Corp. (LEU) executives to participate in the 36th Annual Roth Capital Partners Conference. The company will engage in a fireside chat and one-on-one investor meetings on March 18 in California.

Centrus Energy Corp. (LEU) reported a full-year net income of $84.4 million in 2023, a significant increase from $52.2 million in 2022. The company generated a total revenue of $320.2 million in 2023, with an unrestricted cash balance of $201.2 million as of December 31, 2023. Centrus also originated $189 million of new sales contracts, maintaining a $1 billion long-term order book as of the same date. The Company's President and CEO expressed optimism about scaling up production in their Ohio facility to meet America's commercial and national security requirements for enriched uranium. The financial results also highlighted the impact of a $21.3 million estimated loss in 2022 related to Centrus' cost-share contribution to the HALEU Operation Contract with the U.S. Department of Energy. Revenue from the Low-Enriched Uranium (LEU) segment showed significant growth, with SWU and uranium revenue increases. However, cost of sales for the LEU segment and decreased work performed under the Technical Solutions segment contracts resulted in a decrease in gross profit for the Company. Delays in obtaining storage cylinders impacted the delivery of HALEU UF6, and the company entered into an agreement to purchase a group annuity contract, transferring pension plan obligations to an insurer.

Centrus Energy Corp. (LEU) will broadcast its quarterly conference call on February 9, 2024, to discuss its fourth quarter/year-end earnings report for 2023. The company is a trusted supplier of nuclear fuel and services for the nuclear power industry, with a focus on providing clean, affordable, carbon-free electricity. They have provided utility customers with over 1,750 reactor years of fuel since 1998 and are advancing next-generation centrifuge technologies to restore domestic uranium enrichment capability in the future.

Centrus Energy Corp (NYSE American: LEU) announced that Neil S. Subin is stepping down from the company's Board of Directors effective December 31, 2023. Mr. Subin has been a member of the Board since 2017 and remains a major investor in the company. The Chairman of the Centrus Board of Directors expressed gratitude for Neil's service and contributions to the company's profitability and shareholder returns. The company is currently in a stronger financial position and poised for continued growth with the resurgence in nuclear power.

Centrus Energy (NYSE American: LEU) President and CEO Dan Poneman will attend COP 28 in Dubai, United Arab Emirates on Wednesday, December 6th and Thursday, December 7th to discuss the importance of nuclear energy in meeting the growing global need for clean energy and the need to restore American leadership in the global supply chain for enriched uranium. Mr. Poneman will speak at a number of public events focused on advanced nuclear reactors and the role they can play in achieving net zero emissions, as well as the advanced nuclear fuel needed to power them.

Centrus Energy Corp (NYSE American: LEU) Announces Amir Vexler as CEO Successor in 2024

Centrus Energy Corp. (NYSE American: LEU) reported net income of $8.2 million in Q3 2023, an increase from a net loss of $6.1 million in Q3 2022. The company began production of High-Assay Low-Enriched Uranium (HALEU) in October 2023 and completed Phase I of a Department of Energy contract in November 2023. Centrus also annuitized $186.5 million of pension plan obligations, improving its capital structure. The company's consolidated cash balance was $183.3 million as of September 30, 2023.

Centrus Energy Corp. has completed Phase One of its contract with the U.S. Department of Energy by delivering High-Assay, Low-Enriched Uranium (HALEU) and will now move on to Phase Two, producing 900 kilograms per year at its American Centrifuge Plant in Ohio.