Centrus Energy Reports Q3 Results, Lists on OTCQB

TL;DR

Centrus Energy (LEU) Q3 revenue strong, now trading on OTCQB.

AI Summary

Centrus Energy Corp. reported its third-quarter 2024 results, with revenues from Separative Work Units (SWU) and Uranium sales for the nine months ended September 30, 2024, totaling $365.9 million and $179.3 million respectively. The company also noted its common stock is now listed on the OTCQB Venture Market under the ticker symbol 'LEU'.

Why It Matters

The company's listing on the OTCQB Venture Market could improve liquidity and visibility for its stock, potentially attracting more investors.

Risk Assessment

Risk Level: medium — The company's financial performance and future prospects are subject to the volatile uranium market and geopolitical factors affecting energy supply.

Key Numbers

• $365.9M — SWU Revenue (9 months ended 09/30/2024) (Represents a significant portion of the company's top-line performance.)
• $179.3M — Uranium Revenue (9 months ended 09/30/2024) (Highlights the company's sales in the uranium market.)

Key Players & Entities

• Centrus Energy Corp. (company) — Filer of the 10-Q report
• 365.9 million (dollar_amount) — Revenue from Separative Work Units for the nine months ended September 30, 2024
• 179.3 million (dollar_amount) — Revenue from Uranium sales for the nine months ended September 30, 2024
• September 30, 2024 (date) — End of the reporting period for the nine-month financial results
• LEU (company) — Ticker symbol for Centrus Energy Corp. on the OTCQB Venture Market

FAQ

Key Financial Figures

• $0.10 — stered Class A Common Stock, par value $0.10 per share LEU NYSE American Indicate
• $115 million — ALEU Demonstration Contract Three-year, $115 million cost-share contract with DOE signed in

Filing Documents

• leu-20240930.htm (10-Q) — 1206KB
• exhibit_101x09302024xhal.htm (EX-10.1) — 11KB
• exhibit_311x20240930.htm (EX-31.1) — 10KB
• exhibit_312x20240930.htm (EX-31.2) — 10KB
• exhibit_321x20240930.htm (EX-32.1) — 7KB
• exhibit_101x09302024xhal001.jpg (GRAPHIC) — 244KB
• exhibit_101x09302024xhal002.jpg (GRAPHIC) — 156KB
• exhibit_101x09302024xhal003.jpg (GRAPHIC) — 165KB
• exhibit_101x09302024xhal004.jpg (GRAPHIC) — 79KB
• leu-20240930_g1.jpg (GRAPHIC) — 168KB
• leu-20240930_g2.jpg (GRAPHIC) — 138KB
• 0001065059-24-000089.txt ( ) — 7443KB
• leu-20240930.xsd (EX-101.SCH) — 43KB
• leu-20240930_cal.xml (EX-101.CAL) — 52KB
• leu-20240930_def.xml (EX-101.DEF) — 234KB
• leu-20240930_lab.xml (EX-101.LAB) — 493KB
• leu-20240930_pre.xml (EX-101.PRE) — 349KB
• leu-20240930_htm.xml (XML) — 776KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited): Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 9 Consolidated Statements of Operations and Comprehensive Income for the Three and Nine Months Ended Sept e mber 30, 2024 and 2023 10 Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 11 Consolidated Statements of Stockholders' Equity (Deficit) for the Three and Nine Months Ended September 30, 2024 and 2023 12

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 14 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 53 Item 4.

Controls and Procedures

Controls and Procedures 54

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 55 Item 1A.

Risk Factors

Risk Factors 55 Item 5. Other Information 55 Item 6. Exhibits 56

Signatures

Signatures 57 2 Glossary of Certain Terms and Abbreviations Centrus Energy Corp. and Related Entities ACO American Centrifuge Operating LLC, a subsidiary of Centrus Board Centrus Energy Corp.'s Board of Directors Centrus Centrus Energy Corp. Enrichment Corp. United States Enrichment Corporation, a subsidiary of Centrus Paducah GDP Paducah Gaseous Diffusion Plant, an enrichment plant in Paducah, Kentucky, formerly operated by Enrichment Corp. Piketon Production facility in Piketon, Ohio Portsmouth GDP Portsmouth Gaseous Diffusion Plant, an enrichment plant near Portsmouth, Ohio, formerly operated by Enrichment Corp. USEC-Government Enrichment Corp. prior to 1993, when it was a wholly-owned government corporation Other Terms and Abbreviations 2002 DOE-USEC Agreement June 17, 2002 agreement between Centrus (then known as USEC Inc.) and the DOE 5B Cylinders Storage cylinders for HALEU UF 6 produced by the cascade 8.25% Notes 8.25% Notes, maturing February 2027 American Centrifuge Advanced uranium enrichment gas centrifuge technology previously developed, based on the proven workable U.S. centrifuge technology developed by DOE in the mid-1980s and utilized in a demonstration facility in 2012-2013 American Centrifuge Plant Refers to a demonstration facility in Piketon, Ohio where USEC planned to install a lead cascade of centrifuge machines to demonstrate the American Centrifuge technology under the terms of the 2002 DOE-USEC Agreement ARDP DOE's Advanced Reactor Demonstration Program ATM At the Market Class A Common Stock Class A common stock, $0.10 par value per share Class B Common Stock Class B common stock, $0.10 par value per share Common Stock Class A Common Stock and Class B Common Stock D&D Decontamination & Decommissioning DOC U.S. Department of Commerce DOE U.S. Department of Energy EU European Union Exchange Act Securities Exchange Act of 1934, as amended HALEU High Assay Low-Enriched Uranium HALEU Demonstrati

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION This Quarterly Report on Form 10-Q of Centrus (the "Company," "we" or "us") contains "forward-looking statements" within the meaning of Section 21E of the Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", "will", "should", "could", "would" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this Quarterly Report on Form 10-Q and represent management's current views and assumptions with respect to future events and operational, economic and financial performance. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. The factors that could cause actual results to differ materially from the forward-looking statements made by us include those factors discussed herein, including those factors discussed in (a) Part I, Item 1. Financial Statements (Unaudited) : Note 12, Commitments and Contingencies , (b) Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations, (c) Part II, Item 1A. Risk Factors , and (d) other factors discussed in the Company's filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this Quarterly Report. The Company does not undertake any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances that may arise after the date of this Quarterly Report on Form 10-Q unless required by law.

View Full Filing

View this 10-Q filing on SEC EDGAR