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Centrus Energy Corp's Revenue Surges 40% to $442 Million Driven by Department of Energy Contracts

Feb 08, 2025•over 1 year ago

Contract Type

contract

BethesdaOtherEnergySustainabilityOil And GasNatural ResourcesScience And EngineeringRenewable Energy

Description

Centrus Energy Corp experienced a significant 40% revenue surge, reaching $442 million in 2024, driven by three major Department of Energy contract awards focused on enhancing U.S. uranium production. Despite the increase in revenue, the net income decreased from $84.4 million to $73.2 million, attributed to increased sales costs. The company bolstered its finances with $402.5 million in convertible senior notes and holds $3.7 billion in future contractual backlog

Company Information

Company

Centrus Energy

Location

Bethesda, Maryland, United States

About

Centrus Energy is a trusted American supplier of nuclear fuel and services for the nuclear power industry, helping meet the growing need for clean, affordable, carbon-free energy. Since 1998, the Company has provided its utility customers with more than 1,850 reactor years of fuel, which is equivalent to more than 7 billion tons of coal. With world-class technical and engineering capabilities, Centrus is pioneering production of High-Assay, Low-Enriched Uranium and is leading the effort to restore America's uranium enrichment capabilities at scale so that we can meet our clean energy, energy security, and national security needs.

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