Centrus Energy Corp. reported its third‑quarter 2025 results on November 5, 2025, showing revenue of $74.9 million and a net income of $3.9 million, which translates to a diluted earnings‑per‑share of $0.19. The company missed consensus estimates of $79.43 million in revenue and $0.36 in EPS, indicating a shortfall in both top‑line and profitability metrics. The earnings miss comes amid a broader context of rising LEU demand and a competitive market for nuclear fuel.
The quarter’s revenue was driven by $44.8 million from the LEU segment and $30.1 million from Technical Solutions, reflecting a 30% year‑over‑year increase. However, the company’s LEU sales volume fell 27% and the average SWU price dropped 69%, which contributed to the earnings shortfall. Despite the miss, the company highlighted a $3.9 billion backlog that extends to 2040, underscoring continued customer demand.
Centrus also announced an at‑the‑market equity offering that could raise up to $1 billion, a move aimed at supporting working capital and future expansion at its Piketon, Ohio enrichment facility. The equity program was disclosed on November 6, 2025, and the company indicated that proceeds would be used for general corporate purposes, including potential capital expenditures. Shares fell 13.2% in early trade following the announcement, reflecting investor reaction to the earnings miss and the dilution risk from the new offering.
The earnings miss signals short‑term challenges in the company’s core LEU business, but the continued growth in revenue and a sizable backlog suggest that Centrus remains well positioned to capitalize on the nuclear renaissance. The equity offering provides financial flexibility to accelerate capacity expansion, which could offset the current earnings shortfall in the long run. Overall, the announcement delivers new, material information that is essential for investors to reassess the company’s near‑term performance and strategic trajectory.
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