Company: LEU
Filing Date: 2025-02-07
Form Type: 10-K
Source: 0001065059-25-000006
Chunk: 95

Company: CENTRUS ENERGY CORP
Filing Date: 2025-02-07
Form: 10-K
Item: Item 7
Chunk 95
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 Item 7 of our 2023 Annual Report on Form 10-K, filed with the SEC on February 9, 2024.

Segment Information

The following table presents elements of the accompanying Consolidated Statements of Operations that are categorized by segment (dollar amounts in millions):

Year Ended December 31, 2024 Compared with Year Ended December 31, 2023

Year Ended December 31, 20242023$ Change% ChangeLEU segment  Revenue:  SWU revenue$246.8 $208.2 $38.6 19 %Uranium revenue103.1 60.8 42.3 70 %Total349.9 269.0 80.9 30 %Cost of sales256.0 163.9 92.1 56 %Gross profit$93.9 $105.1 $(11.2)(11)%Technical Solutions segmentRevenue$92.1 $51.2 $40.9 80 %Cost of sales74.5 44.2 30.3 69 %Gross profit$17.6 $7.0 $10.6 151 %TotalRevenue$442.0 $320.2 $121.8 38 %Cost of sales330.5 208.1 122.4 59 %Gross profit$111.5 $112.1 $(0.6)(1)%

Revenue

Revenue from the LEU segment was $349.9 million and $269.0 million for the year ended December 31, 2024 and 2023, respectively, an increase of $80.9 million (or 30%). Uranium revenue increased $42.3 million (or 70%) as a result of a 50% increase in the average price of uranium sold and a 13% increase in the volume of uranium sold. SWU revenue increased $38.6 million (or 19%) as a result of a 24% increase in the average price of SWU sold, partially offset by a 4% decrease in the volume of SWU sold. 

Revenue from the Technical Solutions segment was $92.1 million and $51.2 million for the year ended December 31, 2024 and 2023, respectively, an increase of $40.9 million (or 80%). Revenue generated by the H