Company: LEU
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049844
Chunk: 24

Company: CENTRUS ENERGY CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 24
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 In addition, a decrease to the federal tax valuation allowance of $10.2 million was recorded during the three months ended September 30, 2025. For more information about the valuation allowance, see Note 14, Income Taxes, in our Consolidated Financial Statements on Form 10-K for the year ended December 31, 2024.

Net Income (Loss) and Comprehensive Income (Loss)

Net income (loss) netted to income of $3.9 million and a loss of $5.0 million for the three months ended September 30, 2025 and 2024, respectively, an increase of $8.9 million (or 178%). The increase was primarily attributable to an increase in income tax benefit of $11.0 million, a decrease in net nonoperating expenses of $6.9 million, driven by an increase of $10.3 million in investment income, and a decrease of $2.4 million in advanced technology costs. This was partially offset by a decrease of $13.2 million in gross profit, as discussed above. 

Nine Months Ended September 30, 2025 Compared with Nine Months Ended September 30, 2024

Nine Months Ended  September 30,20252024$ Change% ChangeGross profit$82.5 $49.7 $32.8 66 %Advanced technology costs8.0 13.9 (5.9)(42)%Selling, general and administrative25.9 24.6 1.3 5 %Equity-related compensation5.3 1.1 4.2 382 %Amortization of intangible assets5.9 7.2 (1.3)(18)%Operating income37.4 2.9 34.5 1,190 %Nonoperating components of net periodic benefit loss (income)2.9 (15.4)18.3 119 %Interest expense9.9 0.8 9.1 1,138 %Investment income(28.2)(7.8)(20.4)(262)%Extinguishment of long-term debt(11.8)— (11.8)n/aOther expense, net— 0.1 (0.1)(100)%Income before income taxes64.6 25.2 39.4 156 %Income tax expense4.6 5.7