Welcome to our dedicated page for Centrus Energy news (Ticker: LEU), a resource for investors and traders seeking the latest updates and insights on Centrus Energy stock.
Centrus Energy Corp. (LEU) generates frequent news flow tied to its role in the nuclear fuel supply chain, uranium enrichment capacity, and capital markets activity. As an American supplier of nuclear fuel and services, the company issues updates on its projects to expand low-enriched uranium (LEU) and high-assay, low-enriched uranium (HALEU) production, its contracts with the U.S. Department of Energy, and its relationships with domestic and international utility customers.
News about Centrus often focuses on developments at its American Centrifuge Plant in Piketon, Ohio, where it is pursuing a multi-billion-dollar expansion of uranium enrichment capacity. Articles and press releases cover milestones such as the launch of domestic centrifuge manufacturing, design work on new training and operations facilities, and federal task orders to support commercial-scale HALEU and LEU production. These updates frequently highlight expected job creation in Ohio and Tennessee and the broader impact on U.S. energy security.
Investors following LEU news will also see coverage of Centrus’ financial and corporate actions, including quarterly earnings results, convertible note offerings, and at-the-market equity programs. Regulatory and listing developments, such as the company’s transfer of its stock listing from NYSE American to the New York Stock Exchange, are another recurring theme.
In addition, Centrus issues news on international partnerships and market outreach, including agreements with Korea Hydro & Nuclear Power and POSCO International, participation in investor conferences, and updates on DOE waivers related to Russian LEU imports. This news page brings together these announcements so readers can track how Centrus’ projects, contracts, and financing activities evolve over time.
Centrus Energy (NYSE American: LEU) has appointed Neal Nagarajan as Senior Vice President and Head of Investor Relations. Nagarajan will oversee investor relationships and communicate the company's business strategy, governance, and financial performance. He joins from Sloane & Company, where he served as Senior Vice President of IR and Special Situations. His previous experience includes leadership roles at Sard Verbinnen & Company and work as an M&A investment banker. Nagarajan holds an MBA from Georgetown University and degrees in Economics and International Affairs from The George Washington University.
Centrus Energy (NYSE American: LEU) has priced a $350 million private offering of 2.25% Convertible Senior Notes due 2030. The notes will bear interest at 2.25% annually, payable semiannually, and mature on November 1, 2030. The initial conversion rate is 10.2564 shares per $1,000 principal amount, equivalent to $97.50 per share. The company expects net proceeds of approximately $337.9 million, which will be used for general working capital, technology development, debt repayment, capital expenditures, and potential acquisitions.
Centrus Energy Corp. (NYSE American: LEU) has announced plans to offer $350 million of Convertible Senior Notes due 2030 in a private offering to qualified institutional buyers. The notes will pay interest semiannually on May 1 and November 1, starting May 1, 2025. Initial purchasers may receive an option to buy an additional $52.5 million in notes. The notes will be convertible to cash or a combination of cash and Class A common stock. Centrus plans to use the proceeds for working capital, technology development, debt repayment, capital expenditures, and potential acquisitions.
Centrus Energy reported Q3 2024 results with a net loss of $5.0 million on revenue of $57.7 million, compared to net income of $8.2 million on $51.3 million revenue in Q3 2023. The company secured $1.1 billion in new contingent commitments for LEU production deployment, bringing the year-to-date total to $2.0 billion. Centrus was selected by the DOE for HALEU production and deconversion contracts, with a potential ceiling of $2.7 billion. The company maintains a strong consolidated cash balance of $194.3 million and a substantial backlog of $3.8 billion extending to 2040.
Centrus Energy Corp. (NYSE American: LEU) has announced its upcoming third quarter earnings conference call, scheduled for October 29, 2024, at 8:30 a.m. ET. The company will release its Q3 2024 earnings report after market close on October 28. Shareholders and financial community members can access the webcast through the Investor Relations section of www.centrusenergy.com, with replay available until November 8, 2024.
Centrus Energy serves as a nuclear fuel and services provider for the nuclear power industry, having supplied over 1,750 reactor years of fuel since 1998, equivalent to 7 billion tons of coal. The company focuses on providing reliable nuclear fuel supply sources and advancing centrifuge technologies to restore domestic uranium enrichment capabilities.
Centrus Energy (NYSE American: LEU) has won an award from the U.S. Department of Energy to expand domestic production of High-Assay, Low-Enriched Uranium (HALEU). This fuel is important for next-generation nuclear reactor designs. The award, given to Centrus' subsidiary American Centrifuge Operating, (ACO), has a minimum contract value of $2 million and a maximum value of $2.7 billion over ten years for all awardees.
ACO will manufacture centrifuges and equipment in the United States, utilizing a domestic supply chain across 13 states. This award is part of a public-private partnership aimed at restoring American-owned uranium enrichment capabilities. Additionally, ACO was recently selected to deconvert HALEU from uranium hexafluoride to uranium oxide and/or uranium metal forms, a separate step in the nuclear fuel production process.
Centrus Energy's subsidiary, American Centrifuge Operating, (ACO), has been awarded a contract by the U.S. Department of Energy to support the deployment of technology and equipment for High-Assay, Low-Enriched Uranium (HALEU) deconversion. This process involves converting uranium hexafluoride (UF6) to uranium oxide or metal forms, a important step in nuclear fuel production. ACO is one of six awardees, with a minimum contract value of $2 million and a maximum value of $800 million for all awardees combined.
Centrus President and CEO Amir Vexler emphasized the importance of this award in building an advanced nuclear fuel supply chain and expanding the capabilities of their Ohio facility. As the only U.S.-owned, U.S.-technology enrichment company, Centrus aims to lead efforts in reclaiming America's nuclear fuel leadership.
Centrus Energy Corp. (NYSE American: LEU) has announced its participation in TD Cowen's 2024 Nuclear Fuel & Next Generation Virtual Roundtable on October 8, 2024. The company's management will engage in a fireside chat at 1:05 PM ET and host one-on-one investor meetings throughout the day.
A webcast of the fireside chat will be accessible on Centrus' Investor Relations Website. Interested parties can request invitations or schedule meetings with management through their TD Cowen representative. This event provides an opportunity for investors to gain insights into Centrus Energy's operations and future prospects in the nuclear fuel industry.
Centrus Energy held a briefing on Capitol Hill, advocating for the $3.4 billion federal investment in nuclear fuel production to prioritize American technology and workers. CEO Amir Vexler emphasized the importance of transitioning away from Russian nuclear fuel and restoring America's domestic supply chain for enriched uranium. The company, along with representatives from its nationwide supply chain, highlighted the potential of Centrus' American Centrifuge technology, manufactured in Oak Ridge, Tennessee, and operated in Piketon, Ohio.
Centrus is currently producing High-Assay, Low-Enriched Uranium (HALEU) under a Department of Energy contract and aims to expand its capacity for large-scale production of both HALEU and Low-Enriched Uranium (LEU). The company is competing for federal funding from the $3.4 billion allocation approved by Congress in the Inflation Reduction Act and the bipartisan government funding bill.
Centrus Energy (LEU) is hosting a Capitol Hill briefing on September 24, 2024, to discuss restoring large-scale American uranium enrichment capabilities. The event, titled 'Rebuilding America's Uranium Enrichment Capacity: Why it Matters, and How to Get It Done,' will feature CEO Amir Vexler and supply chain leaders. They will outline plans to expand the American Centrifuge Plant in Piketon, Ohio, to meet U.S. commercial and national security needs. The initiative requires a public-private partnership with federal investment and private capital. The briefing aims to update policymakers, industry, and media on efforts to regain America's position in uranium enrichment, addressing the displacement by Russia and China in the global market.