10-K · February 11, 2026
Centrus positions itself as the leading U.S. supplier of enriched uranium components with two business lines: LEU (commercial supply) and Technical Solutions (HALEU and government work). The company has a contingent LEU…
Earnings analysis · 10-Q
LEU earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Centrus Energy Corp. reported Q1 2026 revenue of $76.7 million and a diluted EPS of $1.05, surpassing estimates. However, revenue fell short of the prior quarter due to a 19% decrease in the LEU segment, while the…
Read full summary
Centrus Energy Corp. reported Q1 2026 revenue of $76.7 million and a diluted EPS of $1.05, surpassing estimates. However, revenue fell short of the prior quarter due to a 19% decrease in the LEU segment, while the Technical Solutions segment experienced significant growth. The company anticipates strong performance driven by ongoing government contracts but faces challenges from geopolitical issues and increased costs.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.05
- Segment
- LEU
- Segment
- Technical Solutions
What stood out
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Strong EPS Performance
Centrus reported diluted EPS of $1.05, exceeding estimates of $0.32.
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Revenue Growth in Technical Solutions
Revenue from the Technical Solutions segment rose 47%, reaching $32.1 million, compared to $21.8 million in Q1 2025.
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Improvement in Cash Position
Cash and cash equivalents totaled $1.9 billion as of March 31, 2026, down from $1.96 billion at year-end 2025.
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Substantial Backlog
The backlog increased to $3.9 billion from $3.8 billion, providing revenue visibility through 2040.
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Increased Investment Income
Investment income surged to $17 million from $7.3 million YoY.
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Significant Capital Expenditure Plans
The company plans to invest over $560 million in centrifuge manufacturing and expansion projects.
What to watch
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Declining Revenue in LEU Segment
Revenue from the LEU segment decreased by 13% YoY to $44.6 million, driven by a 47% drop in SWU sales volume.
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Rising Advanced Technology Costs
Advanced technology costs soared 530% to $18.9 million as the company ramps up its expansion projects.
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Geopolitical and Regulatory Pressures
Ongoing geopolitical tensions and import restrictions from the Import Ban Act pose risks to operational stability and supply chain.
Management's outlook
Management indicated improved FY 2026 revenue guidance of $450 million to $500 million, reflecting positive contract developments.
Earlier filings 4
10-Q · August 6, 2025
Centrus reported Q2 revenue of $154.5 million and diluted EPS of $1.59. Gross profit improved to $53.9 million (≈34.9% margin) and operating income rose to $33.5 million, while the balance sheet shows a large inventory…
10-Q · May 8, 2024
Centrus reported revenue of $43.7 million and a net loss of $6.1 million (diluted EPS $(0.38)) for the quarter ended March 31, 2024. SWU/LEU revenue fell materially while Technical Solutions revenue increased; operating…
10-K · February 9, 2024
Centrus positions itself as the U.S. leader in HALEU production and a long-standing LEU supplier, emphasizing its unique deployment-ready AC100M centrifuge and DOE-backed HALEU programs. The company began enrichment…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.