Company: LEU
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001065059-25-000024
Chunk: 86

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 86
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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 expense, net0.1 0.1 — — %Income (loss) before income taxes35.2 (8.4)43.6 519 %Income tax benefit8.0 (2.3)10.3 448 %Net income (loss) and comprehensive income (loss)$27.2 $(6.1)$33.3 546 %

Advanced Technology Costs

Advanced technology costs were $3.0 million and $5.7 million for the three months ended March 31, 2025 and 2024, respectively, a decrease of $2.7 million (or 47%). Advanced technology costs consist of American Centrifuge work and related expenses that are outside of our customer contracts in the Technical Solutions segment, including bid and proposal activities and work to improve our centrifuge manufacturing capability.

46

Interest Expense

Interest expense was $3.4 million and $0.4 million for the three months ended March 31, 2025 and 2024, respectively, an increase of $3.0 million (or 750%). This increase was due primarily to interest incurred on the 2.25% Convertible Notes issued in November 2024.

Investment Income

Investment income was $7.3 million and $2.8 million for the three months ended March 31, 2025 and 2024, respectively, an increase of $4.5 million (or 161%). The Company’s investment income represents interest earned on operating