Centrus Energy Corp. supplies nuclear fuel and services for the nuclear power industry. Its recurring news centers on Low-Enriched Uranium sales, separative work units, uranium enrichment, High-Assay, Low-Enriched Uranium, and Technical Solutions work that includes engineering, design, and manufacturing services for government and private-sector customers.
Company updates also cover financial results, revenue guidance, centrifuge manufacturing, enrichment-capacity expansion in Piketon, Ohio, and manufacturing activity in Oak Ridge, Tennessee. Partnership news has addressed engineering, project management, supply-chain coordination, artificial-intelligence tools, and other operational support for uranium-enrichment expansion.
Centrus Energy Corp. (NYSE American: LEU) reported a net income of $5.1 million for Q1 2021, down from $11.3 million in Q1 2020. The loss attributed to common shareholders was $2.2 million, or $0.17 per share, due to a common to preferred share exchange. Total revenue increased by 24%, reaching $55.6 million, driven by a $7.4 million rise in the LEU segment's sales. However, gross profit fell to $11.7 million from $19.6 million year-over-year. Centrus ended the quarter with $163.3 million in cash and a robust order book of $989 million.
Centrus Energy Corp. (NYSE American: LEU) will conduct its quarterly conference call on May 12, 2021, at 8:30 a.m. ET. The first quarter earnings report, covering the period ending March 31, 2021, will be released after market close on May 11, 2021. Interested parties can access the call via the Company's website, where a replay will be available until May 21, 2021.
Centrus Energy is a key supplier in the nuclear power sector, providing over 1,750 reactor years of fuel, equivalent to 7 billion tons of coal, and advancing new centrifuge technologies.
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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.