Company: LEU
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001065059-25-000024
Chunk: 141

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 141
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0.5 million for the three months ended March 31, 2025 and 2024, respectively, an increase of $30.7 million (or 6,140%). LEU customers generally have multi-year contracts that carry annual purchase commitments, not quarterly commitments. The gross profit in our LEU business varies based upon the timing of those contracts. The pricing applied to deliveries varies depending upon the market conditions at the time the contract was signed. The increase for the three months ended March 31, 2025 was due to the increase in sales volume and composition of contracts in the current quarter.

Gross profit for the Technical Solutions segment was $1.7 million and $3.8 million for the three months ended March 31, 2025 and 2024, respectively, a decrease of $2.1 million (or 55%). The decrease was primarily attributable to the factors discussed above. Because of the delay in completing Phase 2 of the HALEU Operation Contract, in November 2024, DOE extended Phase 2 to June 30, 2025. Costs incurred subsequent to the extension have not yet been subject to a fee, but Centrus expects the fee to be recovered later this year once the extension is definitized.

Non-Segment Information

The following tables present elements of the accompanying Consolidated Statements of Operations and Comprehensive Income that are not categorized by segment (dollar amounts in millions):

Three Months Ended March 31, 2025 Compared with Three Months Ended March 31, 2024

Three Months Ended  March 31, 20252024$ Change% ChangeGross profit$32.9 $4.3 $28.6 665 %Advanced technology costs3.0 5.7 (2.7)(47)%Selling, general and administrative8.3 8.1 0.2 2 %Amortization of intangible assets1.1 1.1 — — %Operating loss20.5 (10.6)31.1 293 %Nonoperating components of net periodic benefit loss (income)0.9 0.1 0.8 800 %Interest expense3.4 0.4 3.0 750 %Investment income(7.3)(2.8)(4.5)(161)%Extinguishment of long-term debt(11.8)— (11.8)n/aOther