Centrus Energy Corp. reported a net income of $27.2 million, or $1.60 per common share, for the first quarter ended March 31, 2025. Total revenue for the quarter increased by $29.4 million, or 67%, to $73.1 million, compared to $43.7 million in Q1 2024.
The LEU segment revenue surged by $27.7 million (117%) to $51.3 million, driven by a 46% increase in the average price of SWU sold and a 49% increase in volume. Gross profit for the company dramatically increased by $28.6 million (665%) to $32.9 million, with the LEU segment's gross profit rising by $30.7 million (6,140%).
As of March 31, 2025, Centrus had delivered approximately 670 kilograms of HALEU UF6 to the DOE, with the Phase 2 HALEU Operation Contract extended to June 30, 2025, and its value increased to $152.3 million. Additionally, the company fully redeemed its $74.3 million 8.25% Notes on March 26, 2025, recognizing an $11.8 million gain on extinguishment.
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