Company: LEU
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001065059-25-000024
Chunk: 140

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 140
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Total  Revenue$73.1 $43.7 $29.4 67 %Cost of sales40.2 39.4 0.8 2 %Gross profit$32.9 $4.3 $28.6 665 %

Revenue

Revenue from the LEU segment was $51.3 million and $23.6 million for the three months ended March 31, 2025 and 2024, respectively, an increase of $27.7 million (or 117%). SWU revenue increased by $27.7 million as a result of a 46% increase in the average price of SWU sold and a 49% increase in the volume of SWU sold. 

Revenue from the Technical Solutions segment was $21.8 million and $20.1 million for the three months ended March 31, 2025 and 2024, respectively, an increase of $1.7 million (or 8%). The increase in revenue is primarily attributable to a $2.0 million increase in revenue generated by the HALEU Operation Contract. Revenue from the HALEU Operation Contract is recorded on a cost-plus-incentive-fee basis and includes a target fee for Phase 2 of the contract.

Cost of Sales

Cost of sales for the LEU segment was $20.1 million and $23.1 million for the three months ended March 31, 2025 and 2024, respectively, a decrease of $3.0 million (or 13%). SWU costs decreased as a result of a 48% decrease in the average unit cost of SWU sold, partially offset by a 49% increase in the volume of SWU sold. Cost of sales for the three months ended March 31, 2025 and 2024, included $2.1 million and $0.3 million, respectively, for the revaluation of inventory loans.

45

Cost of sales for the Technical Solutions segment was $20.1 million and $16.3 million for the three months ended March 31, 2025 and 2024, respectively, an increase of $3.8 million (or 23%). The increase is primarily attributable to a $4.1 million increase in costs incurred under the HALEU Operation Contract, partially offset by a decrease in costs related to other contracts.

Gross Profit

Gross profit for the LEU segment was $31.2 million and $