LEU

EX-99.1

2 ex991-10q2026_11x04.htm

EX-99.1

Document

EXHIBIT 99.1

FOR IMMEDIATE RELEASE:

November 4, 2026

Centrus Reports Third Quarter 2026 Results

•Revenue of $55.5 million, compared to revenue of $74.9 million in Q3 2025

•GAAP net income of $31.6 million compared to GAAP net income of $3.9 million in Q3 2025

•Non-GAAP adjusted net loss(1) of $9.4 million, compared to non-GAAP adjusted net income(1) of $5.2 million in Q3 2025

•Grew contingent Low-Enriched Uranium (LEU) and High-Assay Low-Enriched Uranium (HALEU) enrichment backlog to $5.4 billion

•Enriching HALEU for the commercial market from existing 16-centrifuge cascade

•Completed manufacturing and began shipping centrifuges from Oak Ridge, Tennessee, ahead of year-end target

•Finalized contracts with all of the supply-chain deemed critical ahead of year-end target

•Completed first certified-for-construction package ahead of year-end target

BETHESDA, Md. - Centrus Energy Corp. (NYSE: LEU) (“Centrus” or the “Company”) today reported third quarter 2026 results. The Company reported net income of $31.6 million for the three months ended September 30, 2026, which is $1.53 (basic) and $1.41 (diluted) per common share. This translates to adjusted net loss(1) of $9.4 million for the three months ended September 30, 2026, which is adjusted EPS(1) loss of $0.46 (basic and diluted) per common share.

“The third quarter’s continued execution across all facets of our business primed Centrus to achieve a critical milestone: shipping the first new centrifuge to support our commercial-scale expansion,” said Centrus Energy President and CEO Amir Vexler.

“This achievement, along with us demonstrating that we have a complete manufacturing supply chain in place, was reached two months ahead of our ambitious schedule and puts us far ahead of the competition. And because that supply chain is unobligated, we are able to serve both the national security and commercial markets.”

“Furthermore, our recent acquisition of Westerman helps to derisk our build out and our overall business model. It will drive growth for both organizations through commercial and operational synergies while diversifying our business model. We are now focused on scaling up our supply chain as we begin manufacturing and shipping more centrifuges from Oak Ridge to Piketon.”

(1)A reconciliation of non-GAAP results are detailed in the Financial Results section. Additional information can be found in the materials on the Centrus investor relations website at https://investors.centrusenergy.com.

Financial Results

Centrus generated total revenue of $55.5 million and $74.9 million for the three months ended September 30, 2026 and 2025, respectively, a decrease of $19.4 million or 26%.

Revenue from the LEU segment was $31.8 million and $44.8 million for the three months ended September 30, 2026 and 2025, respectively, a decrease of $13.0 million or 29%. Uranium revenue decreased by $16.4 million quarter over quarter. The decrease in uranium sales is primarily attributable to a decrease in the volume of uranium sold. Separative work units (SWU) revenue increased by $3.4 million as a result of a 19% increase in the volume of SWU sold and a 10% increase in the average price of SWU sold.

Revenue from the Technical Solutions segment was $23.7 million and $30.1 million for the three months ended September 30, 2026 and 2025, respectively, a decrease of $6.4 million or 21%. The decrease in revenue was primarily attributable to a $10.2 million decrease in revenue generated by the HALEU production contract with the Department of Energy (“DOE”) signed in 2022 (“HALEU Operation Contract”), while the remaining change was related to other contracts.

Cost of sales for the LEU segment was $38.7 million and $52.6 million for the three months ended September 30, 2026 and 2025, respectively, a decrease of $13.9 million or 26%. Uranium costs decreased primarily as a result of a decrease in the volume of uranium sold. SWU costs increased as a result of a 28% increase in the average unit cost of SWU sold and a 19% increase in the volume of SWU sold.

Cost of sales for the Technical Solutions segment was $27.4 million and $26.6 million for the three months ended September 30, 2026 and 2025, respectively, an increase of $0.8 million or 3%. The increase was primarily attributable to an increase in costs related to customer contracts, partially offset by a $1.7 million decrease in costs incurred under the HALEU Operation Contract.

The Company recognized gross loss of $10.6 million and $4.3 million for the three months ended September 30, 2026 and 2025, respectively, an increase of $6.3 million or 147%.

Gross loss for the LEU segment was $6.9 million and $7.8 million for the three months ended September 30, 2026 and 2025, respectively, a decrease of $0.9 million or 12%. LEU customers generally have multi-year contracts that carry annual purchase commitments, not quarterly commitments. The gross loss in our LEU busi

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EX-99.1

2 ex991-10q2026_05x05.htm

EX-99.1

Document

EXHIBIT 99.1

FOR IMMEDIATE RELEASE:

May 5, 2026

Centrus Reports First Quarter 2026 Results

•Revenue of $76.7 million, compared to revenue of $73.1 million in Q1 2025

•GAAP net income of $10.0 million compared to GAAP net income of $27.2 million in Q1 2025

•Non-GAAP adjusted net income (1) of $23.5 million, compared to non-GAAP adjusted net income(1) of $28.6 million in Q1 2025

•Launched multi-year investment in Oak Ridge, Tennessee, to expand and accelerate centrifuge manufacturing program

•Signed strategic collaboration with Fluor to oversee engineering, design, project management, supply chain activities, and procurement of key materials and services on plant expansion

•Partnered with Palantir to leverage its artificial intelligence platform; early work identified ~$300 million in potential costs savings and additional improvements expected to reduce manufacturing lead times and accelerate expansion’s timetable

•Exploring joint-venture with Oklo focused on deconversion services for high-assay, low-enriched uranium (HALEU)

•Raising full year 2026 revenue guidance based on commercial progress

BETHESDA, Md. - Centrus Energy Corp. (NYSE: LEU) (“Centrus” or the “Company”) today reported first quarter 2026 results. The Company reported net income of $10.0 million for the three months ended March 31, 2026, which is $0.51 (basic) and $0.45 (diluted) per common share. This translates to adjusted net income(1) of $23.5 million for the three months ended March 31, 2026, which is adjusted EPS(1) of $1.19 (basic) and $1.05 (diluted) per common share.

“The first quarter was marked by numerous wins and great operational progress as we accelerated our drive to restore America’s ability to enrich uranium at scale, including securing historic federal funding and launching a major expansion of our centrifuge manufacturing plant,” said Centrus President and CEO Amir Vexler.

“We have now switched to full execution mode to accelerate our build-out while building a best-in-class partnership network, including Palantir, Fluor, and Geiger Brothers, as part of our day-one focus to reduce costs and bring in lead times. We’ve already identified approximately $300 million in cost reductions as well as opportunities to both reduce manufacturing lead times and accelerate our timetable. Going forward we will continue to unleash our network’s full capabilities, including Palantir’s leading artificial intelligence platform, to unlock more efficiency gains.

“Our expansion is well timed. Global conflicts and rising tensions continue to highlight the need to diversify away from fossil fuels towards domestic power sources to drive future sustainable economic growth.”

(1)A reconciliation of non-GAAP results are detailed in the Financial Results section. Additional information can be found in the materials on the Centrus investor relations website at https://investors.centrusenergy.com.

Financial Results

Centrus generated total revenue of $76.7 million and $73.1 million for the three months ended March 31, 2026 and 2025, respectively, an increase of $3.6 million (or 5%).

Revenue from the LEU segment was $44.6 million and $51.3 million for the three months ended March 31, 2026 and 2025, respectively, a decrease of $6.7 million (or 13%). Separative work units (SWU) revenue decreased by $9.7 million as a result of a 47% decrease in the volume of SWU sold, partially offset by a 52% increase in the average price of SWU sold. The Company had uranium revenue of $3.0 million for the three months ended March 31, 2026.

Revenue from the Technical Solutions segment was $32.1 million and $21.8 million for the three months ended March 31, 2026 and 2025, respectively, an increase of $10.3 million (or 47%). The increase in revenue was primarily attributable to a $9.8 million increase in revenue generated by the HALEU production contract with the Department of Energy (“DOE”) signed in 2022 (“HALEU Operation Contract”), while the remaining change was generally related to other contracts. Revenue from the HALEU Operation Contract is recorded on a cost-plus-incentive-fee basis and includes a target fee for Phases 2 and 3 of the contract.

Cost of sales for the LEU segment was $16.7 million and $20.1 million for the three months ended March 31, 2026 and 2025, respectively, a decrease of $3.4 million (or 17%). SWU costs decreased as a result of a 47% decrease in the volume of SWU sold, partially offset by a 45% increase in the average unit cost of SWU sold. Uranium costs increased primarily as a result of an increase in the volume of uranium sold.

Cost of sales for the Technical Solutions segment was $28.5 million and $20.1 million for the three months ended March 31, 2026 and 2025, respectively, an increase of $8.4 million (or 42%). The increase was primarily attributable to an $8.2 million increase in costs incurred under the HALEU Operation Contract, while the remaining change was generally