Company: LEU
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049844
Chunk: 23

Company: CENTRUS ENERGY CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 23
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0.2 25 %Interest expense3.4 0.1 3.3 3,300 %Investment income(12.9)(2.6)(10.3)(396)%Other income, net(0.1)— (0.1)n/aLoss before income taxes(8.0)(5.9)(2.1)(36)%Income tax benefit(11.9)(0.9)(11.0)(1,222)%Net income (loss) and comprehensive income (loss)$3.9 $(5.0)$8.9 178 %

Advanced Technology Costs

Advanced technology costs were $1.7 million and $4.1 million for the three months ended September 30, 2025 and 2024, respectively, a decrease of $2.4 million (or 59%). 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 enrichment capability.

Interest Expense

Interest expense was $3.4 million and $0.1 million for the three months ended September 30, 2025 and 2024, respectively, an increase of $3.3 million (or 3,300%). This increase was due primarily to interest incurred on the 2.25% Convertible Notes issued in November 2024 and on the 0% Convertible Notes issued in August 2025.

Investment Income

Investment income was $12.9 million and $2.6 million for the three months ended September 30, 2025 and 2024, respectively, an increase of $10.3 million (or 396%). The Company’s investment income represents interest earned on operating cash, which is primarily held in money market accounts. The increase was due primarily to a higher cash balance driven by the proceeds from the issuance of the 2.25% Convertible Notes in November 2024 and the issuance of the issuance of the 0% Convertible Notes in August 2025.

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Income Tax Benefit

Income tax benefit was $11.9 million and $0.9 million in the three months ended September 30, 2025 and 2024, respectively, an increase of $11.0 million (or 1,222%). Income tax benefit for both periods resulted from applying the annual effective tax rate to the quarterly income from continuing operations adjusted for discrete items.