Centrus Energy Corp

Centrus Energy Corp. supplies nuclear fuel components and enrichment services to the nuclear power industry, with a business model centered on low-enriched uranium (LEU) sales and technical work tied to advanced fuel production. The company serves commercial utilities that run nuclear reactors, while also performing government-related enrichment and manufacturing work through its Technical Solutions segment. A key part of its current identity is its role in HALEU-related capabilities, which are intended to support next-generation reactors and U.S. nuclear fuel supply chain resilience. Centrus operates with a global supplier network for fuel inputs, but its technical footprint is anchored in Oak Ridge, Tennessee and Piketon, Ohio.

13,4 %

26,2 %

17,3 %

+1,5 %

5.59

4.83

— Centrus Energy Corp
%
LEU and uranium fuel sales77% Commercial sales of LEU, SWU, natural uranium hexafluoride, and related uranium fuel components to utilities and other nuclear fuel buyers.
Technical Solutions and government contracts23% Advanced enrichment, HALEU-related work, and technical/manufacturing services performed for the U.S. government and private customers.

Centrus sells primarily to electric utilities that operate nuclear power plants, because they need LEU and SWU to fuel...

  • Commercial nuclear utilitiesprimary

    Buy LEU, SWU, and uranium components to fuel operating nuclear reactors, mainly under medium- and long-term contracts.

  • U.S. governmentprimary

    Funds HALEU, enrichment, and technical work to support domestic nuclear fuel supply and national energy/security goals.

  • International utilitiessecondary

    Purchase LEU and related fuel components for reactors outside the United States, adding geographic diversification.

  • Private-sector technical customerssecondary

    Buy engineering, manufacturing, and advanced nuclear-related services for specialized projects and next-generation reactor supply chains.

Centrus is headquartered in the United States and its core operating base is domestic, with major technical and...

  • United States is the operational center for manufacturing and government work
  • Oak Ridge, Tennessee hosts advanced manufacturing and technical capabilities
  • Piketon, Ohio is tied to HALEU demonstration and centrifuge operations
  • Global supplier network supports LEU sourcing and fuel component procurement
  • International utility sales are meaningful within the LEU segment
  • Sanctions and import restrictions can disrupt cross-border fuel supply

Centrus is focused on expanding domestic enrichment capability and preserving its specialized workforce and facilities...

01
Scale HALEU and advanced enrichment capabilitiesmedium-term

HALEU is central to Centrus' long-term growth option and its relevance to next-generation reactors and U.S. energy policy.

02
Strengthen domestic supply-chain resilienceshort-term

Reducing dependence on constrained or geopolitically sensitive supply sources supports execution and customer confidence.

03
Monetize backlog through reliable contract executionshort-term

Backlog extending to 2040 provides a base of future revenue if deliveries and project milestones are executed on schedule.

Centrus faces elevated geopolitical and supply-chain risk because its business is directly affected by the war in...

critical

Cybersecurity and classified-information breach

A breach could compromise sensitive information and, in an extreme case, threaten DOE access needed to perform American Centrifuge and related contracts.

Scope
Government work and sensitive technical operations
Materiality
high
high

Geopolitical disruption from the war in Ukraine and related sanctions

Centrus relies on international nuclear fuel supply chains and is exposed to sanctions, import bans, and counterparty disputes tied to Russian-origin material.

Scope
SWU and uranium sourcing
Materiality
high
high

Supply-chain and commodity price volatility in SWU and uranium

The company must procure fuel inputs under long-term and market-linked arrangements, so price swings can affect cost of sales and contract profitability.

Scope
LEU segment
Materiality
high
high

Government contract performance and funding risk

Technical Solutions depends on DOE contracts and task orders, and delays or funding changes could reduce revenue and utilization.

Scope
HALEU Operation Contract and related DOE work
Materiality
high
high

Project execution risk at Oak Ridge and Piketon

Expansion and manufacturing initiatives require technical execution, funding, and regulatory progress to convert into future revenue.

Scope
Capacity expansion and HALEU buildout
Materiality
medium
Revenue recognition timing for LEU deliveries
Can shift reported revenue between quarters and affect comparability
Contract accounting in Technical Solutions
Can cause uneven quarterly revenue and margin patterns
Deferred tax asset valuation allowance
Affects reported tax expense and equity valuation assumptions
Pension and postretirement benefit remeasurement
Can materially affect operating results and comparability

: 11/08/2026