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Dec 31, 2022
Centrus Q4 2022 Earnings Report
Centrus reported strong Q4 2022 results with LEU segment generating $67 million in gross profit and secured a $150 million contract to operate a HALEU demonstration cascade.
Key Takeaways
Centrus Energy Corp. reported a net income of $52.2 million for the full year 2022, which includes a $21.3 million accrual for the cost share associated with the HALEU Operation Contract with the DOE. The LEU segment generated $67 million in gross profit in Q4. The company secured a $150 million contract to operate a HALEU demonstration cascade and is on pace to begin HALEU production by the end of the year.
LEU segment revenue reached $112.2 million with a gross profit of $67.0 million in Q4 2022.
Secured a $150 million contract to complete construction and operate a HALEU demonstration cascade.
HALEU production is expected to begin by the end of 2023.
Originated $270 million of new sales contracts throughout 2022, contributing to a $1 billion long-term order book for the LEU segment.
Revenue by Segment
Forward Guidance
Centrus is focused on scaling up production in the Piketon, Ohio, facility to meet enriched uranium requirements.
Positive Outlook
- Strong cash position
- Robust long-term order book
- Strong bipartisan support for domestic uranium enrichment investments
- Goal to scale up production in Piketon, Ohio
- Meeting commercial and national security requirements for enriched uranium
Challenges Ahead
- Risks related to the war in Ukraine and geopolitical conflicts
- Risks related to TENEX's ability to deliver LEU
- Risks related to government funding for HALEU
- Risks related to dependence on third-party suppliers
- Risks related to market competition
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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