Centrus Energy Corp

Centrus is headquartered in the United States and its core operating base is domestic, with major technical and manufacturing facilities in Oak Ridge, Tennessee and near Piketon, Ohio. The company also sources fuel inputs through a global supplier network, which makes its supply chain international even when end customers are domestic. Management notes that international sales have represented about one-third of LEU segment revenue since 2023, so overseas utility demand remains relevant to the business mix. Geography matters because sanctions, import restrictions, tariffs, and the war in Ukraine can directly affect supply availability, pricing, and contract execution. The company’s U.S. footprint is also strategically important because its government work and HALEU capabilities are tied to domestic nuclear fuel security.

Centrus faces elevated geopolitical and supply-chain risk because its business is directly affected by the war in Ukraine, sanctions, import bans, and restrictions on Russian-origin SWU and uranium. The company also depends on customer and supplier health, contract timing, and commodity-like pricing for SWU and uranium, which can create volatility in margins and delivery schedules. Execution risk is meaningful in its government contracts and expansion projects, especially at Piketon and Oak Ridge, where delays or technical setbacks could impair growth plans. Cybersecurity and classified-information protection are also material because a serious breach could jeopardize DOE access and the ability to perform sensitive government work. More broadly, nuclear fuel demand depends on reactor operations, regulatory approvals, and long-cycle utility procurement decisions, so changes in market conditions can affect backlog conversion and revenue recognition timing.