Company: LEU
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001065059-25-000058
Chunk: 99

Company: CENTRUS ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 99
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4.1 (0.8)(20)%Selling, general and administrative9.2 7.1 2.1 30 %Stock compensation4.2 0.5 3.7 740 %Amortization of intangible assets3.7 3.7 — — %Operating loss33.5 21.1 12.4 59 %Nonoperating components of net periodic benefit loss (income)1.0 (16.3)17.3 106 %Interest expense3.1 0.3 2.8 933 %Investment income(8.0)(2.4)(5.6)(233)%Income before income taxes37.4 39.5 (2.1)(5)%Income tax benefit8.5 8.9 (0.4)(4)%Net income and comprehensive income$28.9 $30.6 $(1.7)(6)%

Selling, General and Administrative

Selling, general and administrative costs were $9.2 million and $7.1 million for the six months ended June 30, 2025 and 2024, respectively, an increase of $2.1 million (or 30%). This increase was due primarily to an increase in marketing costs.

Stock Compensation

Stock compensation expense was $4.2 million and $0.5 million for the six months ended June 30, 2025 and 2024, respectively, an increase of $3.7 million (or 740%). This increase was primarily as a result of a non-cash charge of $3.6 million due to the reclassification of certain Board restricted stock unit grants from equity to liability.

Nonoperating Components of Net Periodic Benefit Loss (Income)

Nonoperating components of net periodic benefit loss (income) netted to a loss of $1.0 million and income of $16.3 million for the three months ended June 30, 2025 and 2024, respectively, a change of $17.3 million (or 106%). The change is primarily due to the $16.6 million remeasurement gain driven by the partial annuitization of two pension plans in May 2024. The remaining change is primarily related to the expected return on plan assets, partially offset by interest cost as the discounted present value of benefit obligations nears payment, as described in Note 8,