Company: LEU
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001065059-25-000024
Chunk: 18

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 18
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. We continue to invest in advanced technology because of the potential for future growth into new areas of business for the Company, while also preserving our unique workforce at our Technology and Manufacturing Center in Oak Ridge, Tennessee, and our production facility near Piketon, Ohio. 

44

Results of Operations

Segment Information

The following tables present elements of the accompanying Consolidated Statements of Operations and Comprehensive Income that are categorized by segment (dollar amounts in millions):

Three Months Ended 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