Centrus Energy Stock Price, News & Analysis

Centrus Energy Corp. (NYSE American: LEU) reported significant financial improvements for 2020, achieving a net income of $54.4 million or $0.57 per diluted share, up from a net loss of $16.5 million in 2019. Total revenues increased 18% to $247.2 million, with the LEU segment contributing $190.5 million. The company raised $25 million through a stock offering and completed a $30.4 million pension plan annuitization. New LEU sales commitments exceeded $100 million from November to January, while cash reserves stood at $152 million.

Centrus Energy Corp. (NYSE American: LEU) will hold its quarterly conference call on March 19, 2021, at 8:30 a.m. ET. The company will release its fourth quarter earnings report for 2020 on March 18, 2021, after market close. The call will be accessible via the company's website, with a replay available until April 3, 2021. Centrus Energy supplies nuclear fuel services, emphasizing reliable and diverse sources to meet rising demands for clean energy. Since 1998, it has provided over 1,750 reactor years of fuel, equating to 7 billion tons of coal.

Centrus Energy Corp. (NYSE American: LEU) announced the final results of its tender offer to buy back up to $60 million of its Series B Senior Preferred Stock. The purchase price was set at $954.59 per share, a 25% discount from the liquidation value. The offer, which closed on November 17, 2020, was oversubscribed with 62,854 shares accepted for purchase, representing approximately 60% of the outstanding shares. A final proration factor of 67.815% was applied, with 92,735 shares tendered.

Centrus Energy Corp. (LEU) announced the preliminary results of its cash tender offer to purchase up to $60 million of its Series B Senior Preferred Stock, set at $954.59 per share, a 25% discount from the liquidation price. The offer, which expired on November 17, 2020, was oversubscribed with approximately 92,735 shares tendered. The company expects to purchase about 60% of the outstanding shares on a pro rata basis, with a preliminary proration factor of 67%. Payment for shares will be made on or around November 20.

Centrus Energy Corp. reported a net loss of $7.0 million for Q3 2020, a significant drop compared to a net income of $22.8 million in Q3 2019. The loss per share was $0.83, down from $2.18. Total revenue fell to $33.6 million, down $71.1 million year-over-year, with no SWU deliveries contributing to a 79% decline in this segment. However, the company anticipates higher revenue in Q4 2020. Cash balance at the end of Q3 was $152.8 million. Despite challenges, Centrus is on schedule for its HALEU demonstration plant completion in 2022.

Centrus Energy Corp. (NYSE: LEU) will host a quarterly conference call on November 13, 2020, at 8:30 a.m. ET, to discuss its third quarter earnings report for 2020, which will be released post-market on November 12, 2020. The call will be accessible via the Company’s website, with a playback available until November 23, 2020. Centrus has been a key supplier of nuclear fuel, providing over 1,750 reactor years of fuel since 1998, equivalent to 7 billion tons of coal. For more details, visit www.centrusenergy.com.

Centrus Energy Corp. (NYSE American: LEU) announced a tender offer to purchase up to $60 million of its Series B Senior Preferred Stock at $954.59 per share, expiring on November 17, 2020. The tender offer is not contingent on financing and will be conducted on a pro rata basis if over $60 million is tendered. As of September 30, 2020, 104,574 Series B shares were outstanding, with an aggregate liquidation preference of approximately $133.1 million. Shareholders are advised to review the tender offer documents and consult their advisors.

Terrestrial Energy USA and Centrus Energy Corp have signed a memorandum of understanding to secure fuel supply for Integral Molten Salt Reactor (IMSR) power plants. The collaboration will evaluate the logistical, regulatory, and transportation requirements for using standard-assay low-enriched uranium (LEU) fuel. The IMSR technology promises affordable, reliable, carbon-free electricity, generating 195 MW with high thermal efficiency. This partnership aims to establish a supply chain necessary for the commercial deployment of these innovative reactors.

Centrus Energy Corp. (NYSE American: LEU) is partnering with TerraPower to establish domestic production of high-assay, low-enriched uranium (HALEU), essential for next-generation reactors. This initiative supports TerraPower's application for the Department of Energy's Advanced Reactor Demonstration Program (ARDP), aiming for operational reactors in the next 5-7 years. The project includes a new metal fuel fabrication facility and aims to enhance U.S. nuclear capabilities, crucial for the Natrium Power Storage System. The initiative is backed by a $115 million contract with the Department of Energy.