Company: LEU
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001065059-25-000024
Chunk: 84

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 84
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 March 31, 2025 Compared with Three Months Ended March 31, 2024

Three Months Ended  March 31, 20252024$ Change% ChangeLEU segment  Revenue:  SWU revenue$51.3 $23.6 $27.7 117 %Uranium revenue— — — n/aTotal51.3 23.6 27.7 117 %Cost of sales20.1 23.1 (3.0)(13)%Gross profit$31.2 $0.5 $30.7 6,140 %Technical Solutions segment  Revenue$21.8 $20.1 $1.7 8 %Cost of sales20.1 16.3 3.8 23 %Gross profit$1.7 $3.8 $(2.1)(55)%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