Company: LEU
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001065059-25-000058
Chunk: 100

Company: CENTRUS ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 100
---
 Pension and Postretirement Health and Life Benefits of the Consolidated Financial Statements.

Interest Expense

Interest expense was $3.1 million and $0.3 million for the three months ended June 30, 2025 and 2024, respectively, an increase of $2.8 million (or 933%). This increase was due primarily to interest incurred on the 2.25% Convertible Notes issued in November 2024.

50

Investment Income

Investment income was $8.0 million and $2.4 million for the three months ended June 30, 2025 and 2024, respectively, an increase of $5.6 million (or 233%). 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 issued in November 2024.

Net Income and Comprehensive Income

Net income was $28.9 million and $30.6 million for the three months ended June 30, 2025 and 2024, respectively, a decrease of $1.7 million (or 6%). The decrease was primarily attributable to an increase in net nonoperating expenses of $14.5 million, driven by a change of $17.3 million in nonoperating components of net periodic benefit expense and an increase of $3.7 million in stock compensation. This was partially offset by an increase of $17.4 million in gross profit, as discussed above.  

Six Months Ended June 30, 2025 Compared with Six Months Ended June 30, 2024

Six Months Ended  June 30,20252024$ Change% ChangeGross profit$86.8 $40.8 $46.0 113 %Advanced technology costs6.3 9.8 (3.5)(36)%Selling, general and administrative17.0 15.0 2.0 13 %Stock compensation4.7 0.7 4.0 571 %Amortization of intangible assets4.8 4.8 — — %Operating income54.0 10.5 43.5 414 %Nonoperating components of net periodic benefit loss (income)1.9 (16.2)18.1 112 %Interest expense6.5