LEU

Centrus Energy’s second quarter saw revenue growth driven by higher commercial activity in both its low-enriched uranium (LEU) and high-assay low-enriched uranium (HALEU) markets, but profitability came under pressure as operating margin contracted sharply year-on-year. Management pointed to increased spending on workforce expansion, manufacturing readiness, and advanced technology costs as key factors behind the margin decline. CEO Amir Vexler acknowledged the variability in quarterly results and highlighted that increased order momentum and backlog growth were supported by strong demand in both commercial and government markets. CFO Todd Tinelli attributed the reduced net income to higher stock compensation and advanced technology expenses, partially offset by investment income gains. Is now the time to buy LEU? Find out in our full research report (it’s free). Revenue: $176.1 million vs analyst estimates of $151.3 million (14% year-on-year growth, 16.4% beat) Adjusted EPS: $0.77 vs analyst expectations of $0.81 (4.9% miss) Operating Margin: 5.9%, down from 21.7% in the same quarter last year Market Capitalization: $3.77 billion While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. David Choe (UBS Financial): Asked about the X-energy partnership’s delivery timeline and whether volumes will come from the demonstration cascade. CEO Amir Vexler declined to disclose specific timing, citing confidentiality, but emphasized the importance of the HALEU agreement and its prepayment structure. William Peterson (JPMorgan): Inquired about changes in buyer behavior ahead of the Russian import ban and implications for inventory and working capital. Vexler noted strong momentum and increased customer interest in securing supply, with Centrus seeing favorable pricing trends amid tight market conditions. Luke (Craig-Hallum Capital): Sought details on cost-saving initiatives with Palantir and additional areas targeted for efficiencies. Vexler highlighted ongoing supply chain efforts, leveraging larger order books, and internal process improvements, but did not provide specific numerical targets. Mark Shooter (William Blair): Asked for comparison between the Oklo and X-energy HALEU contracts, particularly regarding size, milestones, and commitments. Vexler explained that both agreements reflect the market’s maturation and the move toward more definitive, prepayment-backed contracts, but could not disclose detailed terms. Ryan Pfingst (B. Riley Securities): Requested updates on efforts to reduce production lead times. Vexler stressed that lead time reduction is a primary focus, with technology and supply chain partnerships aimed at accelerating commercial deliveries and capturing earlier revenue. In the coming quarters, our analysts will closely monitor (1) the pace of workforce expansion and the milestone of completing the first Oak Ridge centrifuge, (2) new contract signings with utilities and reactor developers that expand the backlog, and (3) execution of supply chain and cost-saving initiatives to protect margins. The ability to convert letters of intent into definitive agreements and maintain momentum in the HALEU and LEU segments will be critical. Centrus Energy currently trades at $189.24, in line with $187.63 just before the earnings. Is the company at an inflection point that warrants a buy or sell? See for yourself in our full research report (it’s free for active Edge members). ONE MORE THING: Top 6 Stocks for This Week. This market is separating quality stocks from expensive ones fast. AI is taking down whole sectors with no warning. In a rotation this fast, you need more than a list of good companies. Our AI system flagged Palantir before it ran 1,662% between October 2022 and February 2026. AppLovin before it ran 753% between February 2024 and February 2026. Nvidia before it ran 1,178% between January 2023 and February 2026. Each week it produces 6 new names that pass the same tests. Get Our Top 6 Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+271% between June 2020 and June 2025). Find your next big winner with StockStory today.

Interested in X-Energy, Inc.? Here are five stocks we like better. Revenue and grant income surged 154% year over year to $54.6 million in Q2 2026, driven by increased engineering work under the DOE’s ARDP program. The DOE notified X-Energy that its contribution could increase by up to $1 billion, reaching as much as $2.115 billion subject to cost-sharing requirements. X-Energy advanced its supply chain and fuel strategy by signing binding HALEU enrichment agreements with Centrus Energy and General Atomics, while planning up to $8 million in investments to double SGL Carbon’s nuclear graphite capacity by 2030. The company said TX-1 fuel-facility construction was about 80% complete and on schedule, with final NRC review of the Dow project expected in late 2026 and permit issuance targeted for Q1 2027. X-Energy ended the quarter with $1.9 billion in cash and investments and no debt, though operating and capital expenditures remained substantial. The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence X-Energy (NASDAQ:XE) reported second-quarter 2026 revenue and grant income of $54.6 million, up 154% from a year earlier, as engineering activity increased under the U.S. Department of Energy’s Advanced Reactor Demonstration Program, or ARDP. CEO Clay Sell also said the Department of Energy formally notified the company that its ARDP cooperative agreement could receive up to an additional $1 billion, subject to the program’s 50/50 public-private cost-sharing requirements. The potential increase would bring the DOE’s contribution to as much as $2.115 billion. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be MarketBeat Week in Review – 06/29 - 07/03 The ARDP program supports development of X-Energy’s Xe-100 reactor design, its TX-1 fuel facility and the company’s planned first commercial deployment with Dow at Seadrift, Texas. Sell said the Dow project is expected to provide both electricity and high-temperature industrial steam, and is intended to be the first grid-scale advanced reactor serving an industrial site in North America. During the quarter, X-Energy signed long-term agreements with Centrus Energy and General Atomics for high-assay low-enriched uranium, or HALEU, enrichment services. Sell said the arrangements, combined with approximately 7.6 metric tons of material secured from the Department of Energy for Dow’s first core loads, provide firm supply support for initial and replacement core loads at the company’s announced Xe-100 projects and beyond. → Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Xcel Energy Stock Offers Stability as Electricity Demand Builds The company did not disclose contract pricing, delivery timing, quantities or financial commitments. Sell said the agreements are binding and that X-Energy expects to ultimately transfer the fuel-procurement obligations to customers as projects mature. Sell clarified that the Dow plant will begin with low-enriched uranium fuel as part of the reactor’s planned startup sequence, rather than because of HALEU availability. Subsequent core loads are expected to use HALEU fuel. → On Holding's Price Stumble May Be an Opening for a Company Built to Run X-Energy also announced an agreement with SGL Carbon to expand medium-grain nuclear graphite capacity at SGL’s facility in Chedde, France. X-Energy plans to invest up to $8 million through milestone-based payments for new facilities and equipment upgrades. If fully implemented, the initiative is expected to double SGL’s medium-grain graphite manufacturing capacity by 2030 and support graphite billets for as many as eight new Xe-100 reactors annually. The company said these arrangements are part of a strategy to use a portion of its initial public offering proceeds to secure supply-chain capacity, reduce schedule risk and support early investments by suppliers. Sell added that X-Energy is also focused on large steel components, other graphite products and additional long-lead equipment. X-Energy’s TRISO-X fuel unit is constructing its first commercial fuel fabrication facility, TX-1, in Oak Ridge, Tennessee. The facility received a Nuclear Regulatory Commission Part 70 commercial license in February, which Sell described as the first such license issued for a new commercial fuel fabrication facility in more than 50 years. Vertical construction of TX-1’s shell was about 80% complete and remained on schedule, according to Sell. The company expects to complete vertical construction and begin interior work during the third quarter, including construction of a graphite matrix powder building, utility installation and equipment installation. The company said TX-1 is designed to support fuel production for approximately 11 Xe-100 reactors. Its proposed TX-2 facility, which remains in the design phase, is anticipated to have four times TX-1’s capacity. Sell said X-Energy expects it will need to bring TX-2 online sometime in the early 2030s, but has not announced construction or financing plans. X-Energy acquired 70 adjacent acres in July, expanding its Oak Ridge campus to approximately 180 acres. The company also cited an $11 million Tennessee economic development grant for TX-2 and its planned TXL research and development center, as well as an extension of its research agreement with Oak Ridge National Laboratory. On licensing, X-Energy expects NRC staff to close all safety questions related to the Dow construction permit by the end of August. It continues to expect final NRC review in late 2026 and permit issuance in the first quarter of 2027. Energy Northwest, which is developing a Washington State project associated with Amazon’s planned 5 gigawatts of new power projects, is targeting a construction-permit submission in the first half of 2027. Sell said the company is in the final stages of an agreement with a major investor-owned utility for its next 1-gigawatt project. He declined to provide further details, saying an announcement would come after appropriate engagement with local communities. CFO Daniel Gross said second-quarter services revenue was $50.1 million, primarily from Xe-100 design work under ARDP, while grant income was $4.5 million, mainly tied to the Dow demonstration reactor. As of June 30, DOE had reimbursed X-Energy $547 million under the ARDP program. Total operating expenses were $164.6 million, including $86.7 million of direct costs and $77.7 million of selling, general and administrative expense. SG&A included $33.5 million of non-cash equity-based compensation, largely related to options granted at the IPO. Operating activities used $97.3 million of cash during the quarter, reflecting increased ARDP work, staffing, contractors and vendor prepayments for long-lead materials. Capital expenditures totaled $63.3 million, including TX-1 construction. ARDP reimbursed $23.5 million in cash for capital expenditures during the quarter. X-Energy ended June with $1.9 billion in cash and investments, including $1.1 billion of cash and cash equivalents, $490 million of short-term investments and $265 million of long-term investments. Gross said liquidity roughly doubled from three months earlier following $1.1 billion in net IPO proceeds. The company had no debt outstanding at quarter-end. Gross noted that X-Energy’s reported market capitalization on some financial websites may exclude Class B shares under its Up-C corporate structure. The company cited a non-GAAP fully diluted share count of 414 million shares, consisting of Class A and Class B shares as well as outstanding options, restricted stock awards and restricted stock units. X-Energy (NASDAQ: XE) is a U.S.-based advanced nuclear technology company focused on the development and commercialization of small modular reactors (SMRs) and advanced nuclear fuel. Its flagship reactor design, the Xe-100, is a high-temperature gas-cooled reactor intended to provide low-carbon electricity and process heat for industrial applications. X-Energy's technology centers on TRISO fuel, a robust, particle-based fuel form that the company promotes for enhanced safety and high-temperature operation. The company's activities include reactor design and engineering, fuel development and manufacturing, regulatory engagement, and project delivery support for utility and industrial customers. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "X-Energy Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Image source: The Motley Fool. Thursday, Aug. 6, 2026 at 8:30 a.m. ET President and Chief Executive Officer - Amir Vexler Senior Vice President, Chief Financial Officer and Treasurer - Todd Tinelli Head of Investor Relations - Neal Nagarajan Operator: Good morning, ladies and gentlemen, and welcome to the Centrus Energy Q2 2026 Earnings Call. [Operator Instructions] This call is being recorded on Thursday, August 6, 2026. I would now like to turn the conference over to Neal Nagarajan, Head of Investor Relations. Please go ahead, sir. Neal Nagarajan: Good morning. Welcome, and thank you to all of our callers as well as those listening to our webcast. Today's call will cover the results for the second quarter 2026 ended June 30. Today, we have Amir Vexler, President and Chief Executive Officer; and Todd Tinelli, Senior Vice President, Chief Financial Officer and Treasurer. This conference call follows our earnings news release issued yesterday. We have filed a report for the second quarter on Form 10-Q earlier today. All of our news releases and SEC filings, including our 10-K, 10-Qs and 8-Ks, are available on our website. A replay of this call will also be available later this morning on the Centrus website. I would like to remind everyone that certain information we may discuss on this call today may be considered forward-looking information that involves risks and uncertainty, including assumptions about the future performance of Centrus. Our actual results may differ materially from those in our forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in our forward-looking statements is contained in our filings with the SEC, including our annual report on Form 10-K and quarterly reports on Form 10-Q. The forward-looking information provided today is time-sensitive and accurate only as of today, August 6, 2026, unless otherwise noted. Please note that we report results using non-GAAP financial measures, which we believe provide investors with additional understanding of the company's financial performance as well as its strategic financial planning analysis and period-to-period comparability. A reconciliation to the most directly comparable GAAP measurements is included in the Financial Results section of our earnings release. This call is the property of Centrus Energy. Any transcription, redistribution, retransmission or rebroadcast of the call in any form without the expressed written consent of Centrus is strictly prohibited. Thank you for your participation, and I'll now turn the call over to Amir. Amir? Amir Vexler: Thank you, Neal, and thank you to everyone on the call today. We reported strong financial and operational results for the second quarter of 2026 that were boosted by tailwind growth across all of our major addressable markets, existing and growing commercial LEU, national security and HALEU. These developments continue to underscore the growing imbalance in uranium enrichment supply and demand and are reflected in the continued growth in published LEU pricing. And by signing the DOE's enrichment award, we have unlocked substantial nondilutive, non-debt funding to advance our commercial centrifuge build-out program. The funding helps derisk our build-out and advances our progress to first-of-a-kind costs while creating meaningful jobs across this nation. Let me first walk through the demand side of that equation. We are witnessing strong demand tailwinds in our primary market, global commercial LEU to support baseline electricity growth for existing and proven Gen 2 and Gen 3 reactor designs. In the U.S., the NRC recently proposed multiple regulatory changes and amendments that have the potential to further stimulate the industry's growth. If finalized, these changes could expedite new nuclear capacity coming online while lowering development costs for operators. Furthermore, the newly released American nuclear supply chain loan program seeks to help finance and accelerate the deployment of new large-scale nuclear reactors across the United States. Meanwhile, power upgrades and restarts of existing nuclear facilities continue to drive more nuclear energy coming online and subsequent LEU demand. International LEU demand is concurrently set to increase across a number of regions. In Europe, Sweden and the Netherlands, are focused on making new nuclear developments possible, while Belgium is looking at ways to restart shuttered reactors. And in Asia, we see multiple areas of growth. In April, for example, TEPCO brought back online the 1,300-megawatt Kashiwazaki reactor. Turning to the government market. We continue to see growing demand signals for enriched uranium across various departments as agencies explore avenues to add nuclear power to their energy generation plans. And in the national security market, we continue to work with the NNSA on its intent to sole source certain enrichment activities from Centrus. Recall that Centrus is the only viable production-ready technology that can meet national security needs. Combined, these are strong signs of potential growth in the size and duration of the government market. We are simultaneously seeing signs of growth in the HALEU market, where 3 of 4 reactor designs that reach criticality ahead of DOE's 4th of July deadline are fueled by HALEU. We also believe that potential Department of War funding could help further reduce their timelines. As a reminder, HALEU represents an incremental growth opportunity for Centrus and is a source of potential near-term capital from prepayments. Because the centrifuge is multifunctional, any funding, whether related to LEU, national security or HALEU advances Centrus through first-of-a-kind costs. Now let's shift to our financial results for the quarter. As many of you know, there can be a significant amount of variability quarter-to-quarter due to the nature of our business. And as such, we believe our annual results are more indicative of progress made in our LEU and CTS businesses. In the second quarter, we achieved $176.1 million in revenue, a gross profit of $49.9 million, operating income of $10.4 million, net income of $16.8 million and diluted earnings per share of $0.77. Adjusted net income and adjusted diluted earnings per share were $38.7 million and $1.77 per share, respectively. Turning to our commercial backlog. We are starting to see strong order momentum from the demand signals I referenced earlier, coupled with our build-out progress. We grew our backlog to $4.5 billion that extends through 2040. This is comprised of $3.7 billion in our LEU segment and $0.8 billion in our Technical Solutions segment. The LEU segment backlog is broken down between $0.7 billion of broker-dealer backlog and $3 billion in contingent LEU and HALEU enrichment sales. Todd will discuss our results in more detail. Operationally, we have made meaningful progress throughout the quarter as we remain focused on restoring America's ability to enrich uranium at scale, including the signing of our U.S. Department of Energy $900 million task order that we received earlier this year. The award will support deployment of large-scale production capacity as part of our multibillion-dollar LEU and HALEU capacity expansion. This marks another significant milestone in our expansion as we pivot from a technology demonstration contract to a new larger contract that supports commercial scale production. We're proud to have completed all HALEU production requirements under our existing demonstration contract with the DOE 2 weeks ahead of schedule. Since we've begun our HALEU operations contract, we have contractually produced nearly 2 metric tons of HALEU UF6 for the government. While the first new capacity from this transition is expected to come online by 2029, in the interim, we're looking -- we're working with the DOE on agreements to enable the company to privately operate the existing 16-centrifuge HALEU cascade on a commercial basis. With the past quarter funds as well as cash generated from our existing broker business and strong cash balance, we have now met the financing contingency for our more than $3 billion of customer contracts for the purchase of LEU and HALEU. Another key milestone in derisking and advancing our ongoing multibillion-dollar expansion. Another meaningful achievement for Centrus this quarter was the signing of a letter of intent with Oklo for Centrus to supply HALEU to power up to 5 Aurora powerhouses for multiple years starting in 2029. We are now signing and locking in HALEU fuel commitments from offtakers. And more recently, we announced an offtake contract for HALEU with X-energy. This marks an important step towards ensuring reliable HALEU supply for next-generation reactors and validates our first-mover advantage in the HALEU market. Our HALEU offtake commitments generally include prepayment to Centrus, which will be further negotiated in a future definitive agreement. These prepayments are another source of nondilutive, non-debt funding for our expansion and is a structure we intend to utilize in future HALEU offtake contracts. We also continue to make progress with our supply chain partners, including locking in large commitments to help insulate us from price fluctuations and stabilize costs. We have finalized contracts with approximately 75% of the suppliers we have identified as critical. We also continue to evaluate M&A opportunities in our supply chain that align with our long-term growth strategy and create value for our shareholders. In the second quarter, we made meaningful progress in our workforce additions in both Piketon and Oak Ridge. Finally, I'm also proud that in July, Centrus was invited to join the S&P SmallCap 600 Index, reflecting our role in advancing U.S. energy security and strengthening America's nuclear fuel supply chain. Now moving on to guidance. We are reaffirming our 2026 annual guidance for total company revenue of $450 million to $500 million, total capital spend in the range of $350 million to $500 million, finalizing contracts with 100% of the partners we deem critical, a release of a certified for construction package and at least 100 net new employees hired at our Oak Ridge facility. Simultaneously, given the quarter's progress, we are raising our 2026 annual guidance for Piketon workforce additions from over 100 net new employees to over 175 net new employees. And finally, we are excited to announce that we plan to have our first centrifuge completed at our Oak Ridge facility sometime in 2026, an important accomplishment and milestone that demonstrates that our supply chain has come together. I will now turn the call over to Todd and return with some final thoughts and comments. Todd? Todd Tinelli: Thank you, Amir, and good morning to everyone on today's call. Let me walk you through our results. Our results were in line with our internal projections and reflected not only the typical quarter-over-quarter shift in contractual mix, but also the beginning of the spend for our manufacturing program. As noted, I will be presenting financials on a quarterly and trailing 12-month basis. Total revenue for the second quarter was $176.1 million, an increase of $21.6 million or 14% versus the same period last year. TTM revenue was $473.9 million. The LEU segment generated $153.4 million in the second quarter, a 22% increase versus the previous period last year. SWU revenue in the quarter decreased by $25.7 million due to a 23% decrease in volume of SWU sold, partially offset by a 3% increase in the average price of SWU sold. Centrus also had $53.4 million of uranium sales in Q2. The Technical Solutions segment delivered revenue of $22.7 million in the second quarter, a $6.1 million or 21% decrease over the previous period due primarily to a $5.9 million decrease in revenue from the HALEU operations contract. Centrus generated gross profit of $49.9 million and $112.1 million for the second quarter in TTM, respectively, compared to a gross profit of $53.9 million in Q2 2025. The LEU segment's second quarter cost of sales of $101.8 million increased year-over-year by 36% or $26.8 million, driven by an increase in uranium sales in Q2 2026. Uranium costs increased as a result of increase in the volume of uranium sales. SWU costs decreased 23% as a result of lower SWU volumes, partially offset by a 13% increase in the average cost of SWU sold versus Q2 2025. The Technical Solutions cost of sales of $24.4 million decreased $1.2 million or 5% from Q2 2025, primarily attributed to the HALEU operations contract. The company generated net income of $16.8 million and $38.7 million of adjusted net income in the second quarter compared to net income of $28.9 million and adjusted net income of $34.5 million, respectively, in Q2 2025. On a fully diluted basis, this equates to second quarter 2026 earnings per share of $0.77 per unit and an adjusted earnings per share of $1.77, respectively, compared to $1.59 and $1.90, respectively, for Q2 2025. On a trailing 12-month basis, Centrus generated net income of $48.5 million and adjusted net income of $92 million, respectively. The second quarter net income decrease was primarily attributed to a $12.8 million increase in SG&A costs, driven by an increase in stock compensation costs and a $7.5 million increase in advanced technology costs in Q2 2026. This was partially offset by an $8.3 million increase in investment net income for Q2 2026. Second quarter adjusted net income includes $10.6 million of gross expenses in our advanced technology costs and $17.7 million in stock compensation costs, which combined and tax adjusted equals $21.9 million. The advanced technology costs include short-term noncapitalized costs related to the expansion of our operations in Piketon and Oak Ridge that cannot be capitalized as they are associated with manufacturer readiness and security training ahead of the build-out. Please refer to the financial results section of our earnings release issued yesterday for a reconciliation of net income and adjusted net income. Going forward, we continue to expect to have a certain level of these types of expenses flow through our income statement as we continue our pre-preparations. Centrus backlog across both segments grew to $4.5 billion at the end of the second quarter and extends out to 2040. The growth was driven by an approximate $600 million increase in LEU and HALEU enrichment sales in the LEU segment. Of the approximate $3 billion in the segment's enrichment backlog, $2.4 billion are under definitive agreements. Turning to our capitalization and capital spend. As a reminder, non-CapEx is attributed to cost and investments such as prepayments to supplier or our growth costs associated with our manufacturing and pre-preparations. In the second quarter, we had a total capital spend of $82.2 million with $71.6 million coming from CapEx and $10.6 million classified as non-CapEx and comprised of the aforementioned advanced technology cost. Going forward, we continue to expect the pace of our CapEx and non-CapEx spend to accelerate throughout the year. We finished the second quarter with $1.9 billion in unrestricted cash using our ATM opportunistically to acquire proceeds of only $53.9 million. Importantly, all financial contingencies in our contingent LEU enrichment backlog have now been removed. We continue to feel confident in our existing cash balance, and we believe we are sufficiently funded to meet our near-term capital requirements. As Amir noted, our progress to date have allowed us to raise our 2026 annual guidance for workforce additions in Piketon, Ohio to 175 plus, up from 100 plus. We are simultaneously reaffirming the rest of our financial and operational guidance for fiscal year 2026. And finally, we are excited to share that we expect our first centrifuge to be completed in Oak Ridge in 2026, an important milestone in our build-out. With that, I will turn the call back to Amir. Amir? Amir Vexler: Thank you, Todd. I am proud of the great progress we made during the second quarter across our operations and strategic partners. So in summary, we are seeing strong demand signals across all 3 of our addressable markets, commercial LEU, national security and HALEU. This increased demand, coupled with the progress we have made in our centrifuge manufacturing program has led to increased momentum in our order book backlog. Importantly, the strong demand signals in commercial LEU have led to a very constructive pricing environment. Long-term LEU pricing continued its steady ascent year-to-date, while spot pricing remains at the high set last year. With market tightness anticipated for at least the near and midterm due to constrained supply, while demand continues to grow, Centrus is well positioned to benefit as a proven enricher. Looking ahead, we will continue to focus on our mission of restoring America's nuclear fuel supply chain and are encouraged by the continued strong trends in the broader macro environment that are supporting global nuclear power development. Finally, we are excited to host our first Investor Day in December at our American Centrifuge plant in Piketon, Ohio. We look forward to sharing more about our strategy, growth opportunities and long-term outlook at the event. With that, I will turn the call over to the operator for questions. Operator? Operator: [Operator Instructions] The first question comes from Jon Windham with UBS Financial. David Choe: This is David Choe on for Jon Windham. Congrats on the progress this quarter. Just really quickly on the X-energy partnership. Could you just give us a sense of the cadence of any deliveries you expect to make? I know X-energy is planning to bring their first facility on kind of in the first half of '28. And then do you expect any of those volumes to come from the demonstration cascade that you're converting to commercial offtake? Amir Vexler: Yes. Great questions. Thank you very much. Let's start with the X-energy question. So as you pointed out, we announced a very exciting agreement this morning. I'd like to just in generally frame it up as another great evidence and another data point to show that Centrus is quickly becoming a trailblazer and the go-to for HALEU. We're proud to be able to support some of the new development as far as the advanced reactors are concerned. And as you know, we have already a strong order book of LEU as well. I would like to remind you that the other exciting thing here is that these HALEU agreements include a prepayment as well, which is significantly helpful to us. Now to your specific question, unfortunately, I cannot provide too many details around deliveries and other specific terms under the contract. We are unable to provide that. But as I said, all in all, just as a general statement, it's exciting. It's definitive, which is very important, and we're looking forward to filling it. Operator: The next question comes from Bill Peterson with JPMorgan. William Peterson: I guess given that we're less than 18 months from the Russian import ban going into effect, have you seen any changes in buyer behavior? How should we think about any potential changes in financials, including your inventory or working capital, assuming customers prefer to prebuy. I mean, all this assumes there's no further waivers, but just kind of get a sense for how customers are -- if they're willing to sign at current level, market level for SWU or just of any change of customer behavior that you're seeing? Amir Vexler: Bill, thank you for the question. So since you gave me a free hand in answering that question, let me give you general thoughts as to what we're seeing that probably cannot get into a lot of details around discussions we're having with customers. But you may have heard me say this before that we do see sort of tightness on the supply side towards the end of the decade. I do believe we're starting to see some of that. We're seeing strong momentum as far as customer interest generally in buying SWUs and turning specifically to Centrus for that as the newcomer and the new entrant into the market. So we're seeing very strong order momentum. And as I mentioned on the earnings call, the LEU pricing has had a very strong run-up until this point, which is very helpful to our business and further reinforces the investment that we're preparing to make here. So all in all, I think it's in line with past discussions that we were having as to where we see the market going and with all the added demand side to the equation and not a whole lot added to the supply side of the equation, at least not in the next year or 2, we're seeing that momentum play in favor of the sellers. Operator: The next question comes from Eric Stine with Craig-Hallum Capital. Unknown Analyst: This is Luke on for Eric. So on the cost savings front, obviously, the partnership with Palantir is already proving to be extremely valuable. But can you just give us an idea of what the picture for further cost savings might look like throughout the life of your expansion project just in terms of comparable magnitude to what you've been able to achieve thus far since you're still just in early stages here, if there's any cost areas in particular that you're focusing on now? Amir Vexler: And again, thank you for that question. You're actually pointing out to an area that is right at top of our priority list as we launch the project, as we commence manufacturing, as we start committing to commercial deliveries and to delivery of our centrifuges. It is extremely important, as I mentioned on the last couple of earnings calls, and I'll reiterate it here that we, in parallel, unlock efficiencies, cost savings and cost out efforts. We talked a little bit about our efforts together with Palantir, with some of our EPC partners. We have a lot of supply chain efforts that are aimed at yielding exactly what we're talking about here. The fact that we're able to lock in larger order books, the fact that we now have more clarity into customer base about the ordering allows us to make more leverage buys and realize savings on the supply side of our build. The other thing that I'll mention is in addition to utilizing and expecting supplier savings, we're also launching in parallel a lot of efforts internally to ensure that the manufacturing facilities that we're setting up and the processes that we're setting up have things like lean and things that utilize and maximize efficiencies. All of that will result in no doubt in cost savings. In terms of being able to give you details as to what it is numerically and what we're targeting, that's not something that we've talked about on this phone call, but I'll reiterate again that being able to lock in long-term agreements, large orders due to some of the clarity that I talked about results in significant cost savings. Operator: The next question comes from Mark Shooter with William Blair. Mark Shooter: Again on the Oklo and X-energy supply agreements. I understand you guys are limited on what you can disclose, but maybe a comparison may help bring out some context for us. If you look at the 2 HALEU contracts you recently signed with Oklo and X-energy today, can you highlight anything where they may be the same or differ maybe in size, timing, milestone structure? Is one further along, more definitive? Do you either have take-or-pay commitments? Amir Vexler: Yes. So as you know, I'm fairly limited in the details that I can provide just because there are nondisclosure agreements, and we just typically not in the habit of revealing details of commercial agreements. However, there are a lot of similarities. And I was mentioning on the last couple of calls that we are starting to see a much greater ability from our customer base to actually commit to legally binding agreements, a definitive agreement, and that's what you saw with the X-energy agreement that we've announced, and that's what we're marching towards with Oklo as well. I do want to explain a little bit of the LOI dynamic versus a contract. The LOI is a step that precedes a definitive contract. This is an agreement over general terms as we see them. And once we get to that point, we're very close to finalizing contractual terms and conditions. So the similarities that we're seeing is you're seeing now some of these OEMs being able to commit and put fuel as a priority in their purchasing strategy. And we're seeing a maturing of the SMR market. And probably the most important thing I want to convey on this call is that we now are leading the pack, and we are the HALEU supplier. We now are the go-to for HALEU supplies. And as you know, we kind of view HALEU as a bonus. LEU is the sure business, the sure thing in the market. We've been focusing on that very strongly. HALEU has been really a big bonus for us. And I talked a lot about just generally the economies of scale. So we naturally are trying to not only get the HALEU but also get the LEU feed, which is extremely important to us for economies of scale. The third similarity that we're seeing is prepayments. We're seeing the willingness, the ability and our sort of strong preference for a prepayment, which adds significantly to the nondilutive capital that we're able to invest. Operator: The next question comes from Vikram Bagri with Citigroup. Ted Giletti: It's Ted on for Vik. I just wanted to come back to the guidance. And could you just maybe remind us what's driving the bookings there? The release had mentioned the potential roll-off of funding for the operations contract. So just wanted to understand where that may sit within the revenue guidance range. Todd Tinelli: Yes. So if you -- just a reminder, we -- on our revenue guidance, we increased it last quarter. One of the things that I just want to remind is our business has variability from quarter-to-quarter. So it's always wise. That's why we are talking about our earnings also in the trailing 12 months. We're not providing quarter-over-quarter guidance. However, we're maintaining our guidance for the year. We feel that along with our strong order book and the market maturing that we are able to maintain our guidance at the current sense for revenue and also CapEx. But additionally, another strong item is that we've increased our headcount around the Piketon facility, which shows our continued momentum and our build-out at Piketon. Amir Vexler: I'd like to add to what Todd is saying. Just a very exciting announcement for us that obviously, we're communicating and transmitting here is that the first centrifuge is going to be completed in our Oak Ridge facility sometime in 2026 as we announced. Again, this is in line with the investment that we're making, the project planning that we have, and this is probably one of the most exciting steps towards realization and commencement of enrichment in Piketon. Ted Giletti: Got it. And then one further question. Just in terms of the increase to the backlog quarter-over-quarter, are you able to just talk about what led to that increase in terms of the signing of the DOE awards contribute to that? Or are some of the more recent awards within there? And how do you actually define the backlog? Does it include any LOIs? Amir Vexler: So unfortunately, I won't be able to get into a lot of details, but I will tell you this does not include the DOE. These are all commercial agreements. The increase in backlog has to do with commercial agreements. I cannot really go into any more detail than that. Operator: The next question comes from Rob Brown with Lake Street Capital Markets. Robert Brown: Congratulations on all the strong progress. Just want to talk a little bit more about the offtake agreements. Maybe just sort of big picture, what's your thinking on the amount of your future capacity that you hope to have in terms of offtake agreements signed up? This, I guess, is a HALEU specific question. But how much of capacity do you hope to have offtake agreements signed for? Amir Vexler: Yes. Thank you for the question. I think a few calls back, I was mentioning that really our strategy is depending on what our solid order book looks like, that would sort of determine the proportion of LEU versus HALEU that we're building. At this point, based on what we're locking in, we're not really changing the proportions of what we're building out. We are going to be building both. We have the flexibility to build both. Depending on the customers that step forward and are making firm commitments, that's what we're going to be building. And obviously, we're going to be looking for solid commitments for as long of a term contract as possible. And we kind of transmitted exactly those points to the market last year. And I'm happy to say that it's been kind of progressing exactly on how we transmitted it last year as well. Operator: The next question comes from Ryan Pfingst with B. Riley Securities. Ryan Pfingst: Maybe a follow-up on your work with Palantir and efficiencies more broadly. You discussed efforts in one of the previous responses on the cost side. But could you give more detail on progress you're looking to make on lead time reduction? Amir Vexler: Ryan, thank you for that question. So you are correct. I think lead time is extremely important as an opportunity as well as cost out. The reason is we're backing into commercial agreements. And quite frankly, the commercial agreements are demanding even faster timelines. There is a gap in the market in terms of supply, as I mentioned to one of the earlier questions. So there is really a tangible and real reward to where we can come to market with enrichment capacity as soon as possible. So part of our work with Palantir, part of the work that we have with our EPC providers and other partners, meaning the large suppliers that I referenced earlier. I mean all of these critical suppliers, we have ongoing efforts and sort of projects that we kicked off, where we look at both lead times and we looked at cost out because lead times really translate into enhanced revenue and being able to realize revenue much earlier, much sooner. So we're focused on that. I hope I was able to answer your question with sufficient detail. I'm not sure that I can go into any more detail than that. Operator: The next question comes from Nick Amicucci with Evercore. Nicholas Amicucci: I'm going to kind of focus back on the guidance too. Just as we think about the CapEx ramp through the back half of the year and the completion of the centrifuge. How should we think about kind of the cadence of the balance of the spend through the end of the year? And then as we kind of think about into 2027, where that CapEx number kind of filters out? Todd Tinelli: Thanks, Nick. Well, first I'll say is this project will continue to ramp up. We're not going to provide guidance just at this point for -- beyond 2026. But you -- as I mentioned, you see that we maintained our guidance for 2026 around the CapEx, you saw the most recent quarter in which we spent through either prepayments, capitalized labor or preorders. This project will continue to move forward. I think one of the items that I'll also point to that shows additional momentum is the increased headcount at Piketon. And what we believe is that accelerated spend and moving forward with our project in addition to increased customer demand and backlog allow us to move at a cadence that will meet our customer demands for their deliveries in the future period. Amir Vexler: Nick, this is Amir. I just wanted to add something to what Todd was saying. It may be somewhat tangential to your question around cadence, but I mentioned it earlier and I just want to emphasize it again. So we did announce, and we're very excited about this that the first centrifuge is going to be completed this year. The intent, obviously, is here, we're building a manufacturing facility, which is a first of a kind in the United States to actually manufacture one of the most complex things humans have ever invented, which is the centrifuge. It is an impressive facility. We have top people, top engineers, top suppliers working on it. And we are excited at the fact that we're doing something that has never been done before. And it's coming together. The first centrifuge is the first concrete sign and proof of it. And obviously, the intention is that there is going to be a cadence of production that is fully synchronized with how we are supposed to deliver the product past the end of the decade. So although I cannot obviously give you guidance, as Todd said, in terms of numbers, but definitely look at it that way. Operator: The next question comes from Jeff Grampp with Northland Capital Markets. Jeffrey Grampp: Maybe to build on the last topic. On the hiring front, you guys continue to make obviously positive progress on accelerating the hiring goals at Piketon. Can you touch on like the potential, I guess, derisking or accelerating of timelines to first cascade given the hiring acceleration? Are those correlated at all? Or can you touch on any other benefits to the business or timeline with the accelerated hiring? Amir Vexler: Yes. So this kind of goes to the earlier question that I had, maybe 2, 3 questions ago, where I talked about not only cost savings, but improving lead times. And being able to improve lead times is tangible real benefit to the company in terms of our ability to get on the market quicker. So a lot of our efforts are associated with going faster and taking cost out. Some of the acceleration in adding the workforce that you referenced and as we've talked about in our guidance is directly related to that. Overall, I view that as a positive sign. I view that as something that is meant to absolutely ensure that we are delivering on our commercial commitments and potentially do better than that. But obviously, nothing new to announce at this point. Todd Tinelli: Yes. And I just will make one more point that when you think about the Piketon versus Oak Ridge headcount, as Amir said, we're setting up a kind of a first-of-a-kind facility in the United States to manufacture enrichment, that's where we're manufacturing the centrifuges, which are then shipped to be installed and stood up in Piketon. So all of these items are connected, where the supply chain, the lead times, the quicker that we can stand up the manufacturing and produce those centrifuges, they are be able to be shipped to Piketon. And currently, there is a lot of work that's being done at Piketon to be prepared for those centrifuges to be received and installed so we can begin enrichment. I hope many of you are able to attend the Investor Day in December in which we will actually be able to see the facility and understand it in a greater detail. Operator: The next question comes from Joseph Reagor with ROTH Capital Partners. Joseph Reagor: A lot of my questions have already been touched on, but just kind of trying to put a bow on everything you guys just said. Is it still the expectation that commercial production would commence somewhere around late 2029 at Piketon? Or is that timeline potentially moving forward? Amir Vexler: I would remove the adjective late and just say in 2029, that is our goal, absolutely. Are we -- to use your words, to put a bow on it, we are exploring opportunities and working hard to ensure that we can potentially compress timelines, but there is nothing to announce and no commitments at this point. Operator: The next question comes from Sameer Joshi with H.C. Wainwright. Sameer Joshi: Could you talk about the SWU price dynamics here? I think if I heard right, the prices went up 3% during the quarter, whereas the costs went up 30%. What are the drivers for the costs growing up? Amir Vexler: This is one of my favorite questions to talk about. Reason is that it really kind of summarizes the market in one number that everybody can look at. And obviously, opinions may differ, but it comes down to really basic economics. SWU prices have been escalating and have -- are still escalating due to the simple fact that you have demand that is outstripping supply. And more importantly, this is 2026, we still have 2, 3 more years or so until there is capacity that's going to start to come online from numerous projects that have been announced. And so I still think that my personal view is there is going to be -- continue to be constrained. We're going to continue to see some of the dynamics of being a seller's market, so to speak. So the simple answer is there has been no new capacity added. And not a day goes by, we're not hearing of more new reactors, operates, decommission reactors coming back online, new plants for new reactors. All of these require fuel. All of these require more fuel than they required before. Capacity remains the same. That's what you're seeing in the prices. And as I said, in the near term, I don't see that dynamic changing a whole lot. Sameer Joshi: Amir, can you also comment on what is driving the costs up concurrently? Because I would imagine it's mostly energy costs, but there are some other costs that are also clearly going up. Todd Tinelli: Well, the costs relate to a mix of our SWU and uranium costs. Obviously, each -- we can't comment on specific cost of each deal, but the inventory cost is a contractual mix and how we account for the inventory on the books. But again, we're seeing strong SWU prices. Our margins are coming in line with our expectations, and we continue to see market demand that will maintain those SWU prices. Operator: The next question comes from Drew Scott with Needham & Co. Drew Scott: Can you guys talk about pricing structures in your offtake agreements that you guys are pursuing? Are you guys using the fixed price structures? Or are you guys indexing to some type of pricing? And if you think the market is tightening, how much offtake are you wanting to sign today? Todd Tinelli: Yes. I mean, currently, we can't comment on our pricing. I'm assuming you're talking around all offtake arrangements on the pricing. I just want to make sure I understand your question, Drew. Drew Scott: Yes. Todd Tinelli: Okay. Yes. We can't comment on the specific pricing of our contracts. Unfortunately, we have NDAs. I think one of the most important areas that will -- you see, and I think Amir mentioned this several times during the call is, these are the new contracts, and we also met financial -- our financial contingencies on our backlog is that they're definitive. And obviously, we passed our first-of-a-kind cost in our -- what we would call our initial build-out. And so the more offtake that we sign results in further economies of scale, and we're continuing to meet all of our customer demands. As you see, the HALEU market has matured quite nicely over the last 6 months, and we continue to be there to be the first HALEU provider in the market. Operator: The next question comes from Christopher Souther with Truist. Christopher Souther: Congrats on the progress, both in Piketon and Tennessee and with some of these customers. Maybe you can give us an update just on how discussions are going with utilities for LEU on potential long-term contracts now that we've met financial contingencies. How should we think about the cadence for incremental orders between now and 2029? It's great to see some of these SMR developers that are dependent on HALEU being proactive. But curious if you have a sense or target on the visibility we could continue to build between now and 2029. And if you're seeing more urgency for contracting from some of the traditional utility customers as well, given the pricing trends? Amir Vexler: Excellent question. Thank you for that. I stated numerous times on our earlier calls that we were greatly appreciative and focused on the LEU market. That provides a strong foundation for our offtake backlog. These are solid commitments that are needed by reactors that are operating every day and will continue operating for decades. So they obviously are at the top of our list. The dynamics there is -- you pointed out correctly. The fact that we now have essentially no required contingency there that we have met across the threshold, that makes us a much lower risk start-up and a much lower risk enricher on the market. And I would expect that, that would give us a lot more play with utility. We are seeing generally more interest and inward look by utilities towards sort of the few enrichment providers that are in the market now. And I am sensing that there is a lot of focus on the new entrant to make sure that there is a -- so there is competition in the market. And we're getting a lot of advantages by being the new entrant and somebody that makes that investment and now represents a much lower risk than we would have, say, a few years ago. So all in all, the dynamics is unfolding in our favor, and we are in constant engagement with utilities that are looking to fulfill their LEU needs for years to come. I will add, and I said this before as well, that some of these discussions don't result in the linear sort of numbers that you can track quarter-to-quarter. They're lumpy and how they're being delivered. Some of these discussions take longer. Some of them take less time. But all in all, we continue to make that a priority from a commercial standpoint, the existing reactors and the existing LEU needs here in the United States and abroad. Christopher Souther: Okay. So maybe just kind of following up there, like as far as contracts timing, understanding there's stuff that we won't necessarily see kind of in the interim, but is kind of 2028, 2029 kind of big circle dates for contracting from some of those? Or could we see some of that earlier? Amir Vexler: Sure. I want to make sure I understand your question. So your question is, is there an opportunity to have delivery in 2028 like earlier than we announced. Christopher Souther: No. As far as like longer-term contracts, are they kind of in a bit of a wait and see for some of that for incremental stuff beyond your current backlog? Or is there kind of upside to the backlog between now and 2029 materially? Amir Vexler: Right, right. Yes. So I hope I'm answering your question. If I don't, please course correct me on that. The buying patterns of the utilities are very different from utility to utility. The larger utilities and the smaller ones have different strategies as to when they go to market. Some of them have different tolerance for risk or interest in incumbent versus new entrants. And as I said, the fact that we are now delivering centrifuge or we're going to be demonstrating that we're delivering, installing and we also have no financial contingencies. I believe that there is going to be a lot more interest from utilities that are in a wait-and-see mode, and there's quite a few of them there. Fully expect that. Todd Tinelli: Yes. One thing I'll add is that, obviously, the market anticipated the Russian ban and a lot of the market in the near term, utilities have secured their position. So discussions with the utilities and the RFPs are for the future periods and future periods when we plan to have capacity online. But I would just remind you that we have a strong broker business that has supported Centrus' cash flows over the past few years and continues to support Centrus cash flows, and we stand ready to meet any customer requests that may come in, in the near term. Operator: The next question comes from Joseph Osha with Guggenheim Securities. Unknown Analyst: This is Peyton on for Joe. I guess just stepping back from the quarter here, as you transition the HALEU cascade from cost reimbursable DOE work to commercial operations, what is the fully ramped earnings power of the combined LEU and HALEU business look like? And if you could say a couple of things about what needs to go right over the next 18 to 24 months to get there, that would be great. Todd Tinelli: Yes. We don't provide any additional guidance on that. Obviously, the transition of the demo cascades to the commercial is demonstrating our ability to operate these cascades, our ability to produce HALEU that's out in the market. We're excited to be able to continue those cascades and provide commercial HALEU. Obviously, these require LEU feedstock. This will develop over time. But currently, we can't provide any additional guidance on this. Amir Vexler: Yes. I'd like to add something to what Todd is saying, although not directly related to your question. And as you said, there's very limited amount that we can provide in terms of guidance here. But when you think about the intent of the demo cascade, it was really to demonstrate our technology and to derisk the technology. And what a great story where we are transitioning these demo cascade equipment right into commercial operations. I mean there's a lot to be read and concluded here as far as the demonstration of our technology, the capability of our technology and the high expectations that we have set for it to operate in the field. So I mean, all in all, we see this as very positive progress and development. Operator: Thank you. There are no further questions at this time. I will now transfer the conference over to Neal Nagarajan, Head of Investor Relations. Please go ahead, sir. Neal Nagarajan: Thank you, operator. This will conclude our investor call for the second quarter of 2026. As always, I want to extend a thank you to our listeners and our analysts online and those who called in. We look forward to speaking with you again next quarter and sharing more information on our upcoming Investor Day. Operator: Thank you. Ladies and gentlemen, this concludes the conference call for today. Thank you for your participation. You may now disconnect. Before you buy stock in Centrus Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Centrus Energy wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Centrus Energy (LEU) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Energy Fuels UUUU has gained 15% despite reporting weaker-than-expected second-quarter 2026 results on Aug. 5. Revenues surged 496% to $25 million but missed the Zacks Consensus Estimate by a margin of 16.9%. UUUU posted a loss of 13 cents per share, wider than last year's quarter’s loss of 10 cents as well as the Zacks Consensus Estimate of a loss of five cents. Despite the recent rebound, UUUU remains down 29.1% over the past six months. It has lagged the industry’s 7.2% decline and the broader Zacks Basic Materials sector’s 3.6% fall. In comparison, the S&P 500 has gained 12.8% in a year. Energy Fuels has also trailed peers Cameco Corporation CCJ and Centrus Energy LEU, which are down 12.2% and 5.7%, respectively, in a year. Image Source: Zacks Investment Research Energy Fuels’ Q2 revenues jumped 496% year over year to $25.1 million, primarily driven by higher uranium sales volumes and realized prices. The company sold 310,000 pounds of uranium at an average realized price of $80.48 per pound. This included 150,000 pounds sold in the spot market and the remaining 160,000 pounds under long-term contracts. In the year-ago quarter, UUUU sold just 50,000 pounds of uranium at $77 per pound, generating $3.9 million in uranium-related revenues. Heavy mineral sands contributed $0.28 million, bringing total Q2 2025 revenues to $4.2 million. HMS no longer contributes to results following the completion of mining at Kwale in December 2024. Costs applicable to revenues surged 192% to $10.7 million on higher uranium volumes sold, partially offset by lower weighted average cost per pound of uranium sold. Standby costs surged 61% year over year to $2.87 million due to higher permitting activities at Roca Honda and Whirlwind and increased maintenance activities at Nichols Ranch. Selling, general and administration were up 31% year over year, reflecting increases in general headcount, salaries and benefits. UUUU also incurred $10.7 million in transaction and integration costs related to the planned acquisitions of Australian Strategic Materials (ASM) and VAC Group. This, along with higher operating expenses, was partially offset by improved margins on uranium sales, leading to a net loss of 13 cents per share in the quarter, wider than the year-ago loss of 10 cents per share Energy Fuels mined approximately 315,000 pounds of uranium in Q2, taking first-half production to 740,000 pounds. The company produced 865,000 pounds of finished uranium during the quarter and 1.7 million pounds in the first half, already exceeding the low end of its full-year guidance of 1.5-2.5 million pounds. UUUU expects to mine 2-2.5 million pounds of contained uranium in 2026 and sell 1.5-2 million pounds through spot and contracted transactions. Production from the Pinyon Plain mine remains a key cost advantage. The company expects to blend low-cost Pinyon Plain ore with smaller quantities of lower-grade material from La Sal/Pandora and other sources. Mining and transportation costs for Pinyon Plain ore are approximately $14 per pound of recovered uranium, while milling costs are about $9 per pound, resulting in a total cost of roughly $23 per pound. This is at the low end of UUUU’s $23-$30-per-pound cost target. In July, the company announced that construction has begun on an expansion of its White Mesa Mill in Utah to enable the large-scale production of heavy rare earth oxides. This is a critical step in the execution of Energy Fuels' integrated mine-to-magnet platform.  The planned expansion is expected to be completed by the end of 2027, with respect to the addition of the Tb and Dy circuits, and by the end of 2028 depending on the addition of the Sm, Eu and Gd circuits. The company is also advancing its planned acquisition of ASM, which is expected to close this month. The transaction is expected to strengthen Energy Fuels' position across the REE value chain by adding mining, separation, metallization and alloy production capabilities. In June, UUUU announced plans to acquire Germany-based VAC Group for approximately $1.9 billion. VAC produces permanent magnets, including NdFeB and SmCo magnets, as well as soft magnetic materials. The acquisition would significantly expand Energy Fuels’ position across the rare earth and magnetics value chain. Energy Fuels is also advancing the Donald Project via its joint venture with Astron Limited. The Donald Project has received all major regulatory approvals required to construct and operate the project and is expected to provide a long term, large scale source of monazite feedstock to the company for processing into light and heavy REE oxides at the mill. Energy Fuels ended the second quarter with $996 million in working capital, including $58.4 million of cash and cash equivalents, $878.3 million of marketable securities, $15.1 million of receivables and $75 million of inventory. This strong liquidity provides the company with financial flexibility to fund its uranium and rare earth expansion plans and pursue strategic acquisitions. The Zacks Consensus Estimate for Energy Fuels’ 2026 revenues is $136 million, indicating 107% year-over-year growth. The estimate for earnings for the year is currently pegged at a loss of 25 cents per share. The estimate for 2027 revenues is pinned at $224.8 million, implying a 64.8% year-over-year upsurge. The consensus estimate for earnings is pegged at three cents per share. This will be UUUU’s first year of profit since it started trading on the NYSE in December 2013. Image Source: Zacks Investment Research Over the past 60 days, the estimates for Energy Fuels for both years have moved down. Image Source: Zacks Investment Research Energy Fuels is currently trading at a forward price-to-sales multiple of 19.26, well above the industry average of 4.92. UUUU’s Value Score of F suggests that the stock is not so cheap and indicates a stretched valuation at this moment. Meanwhile, Cameco and Centrus Energy are cheaper options, trading at price-to-sales ratios of 16.69 and 8.02, respectively. Image Source: Zacks Investment Research Energy Fuels has attractive long-term growth drivers, supported by rising uranium and rare earth demand. Its strong balance sheet, growing uranium production and expanding rare earth capabilities position it to benefit from increasing demand for critical minerals. The company’s standby projects, Nichols Ranch ISR and Whirlwind, could add up to 500,000 pounds of annual uranium production within six to 12 months of a go decision. Meanwhile, Roca Honda, Sheep Mountain and Henry Mountains-Bullfrog could collectively support up to 6 million pounds of annual production over the longer term. Energy Fuels has compelling long-term prospects, backed by a strong balance sheet, rising uranium production and an increasingly integrated rare earths and magnetics platform. However, the stock’s premium valuation, expected 2026 loss and downward earnings revisions temper its near-term appeal. Given these risks, investors may want to stay on the sidelines for now. UUUU currently carries a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Energy Fuels Inc (UUUU) : Free Stock Analysis Report Cameco Corporation (CCJ) : Free Stock Analysis Report Centrus Energy Corp. (LEU) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Centrus Energy Corp.? Here are five stocks we like better. Second-quarter revenue rose 14% year over year to $176.1 million, while adjusted net income reached $38.7 million, or $1.77 per diluted share. The LEU segment grew 22% to $153.4 million, partially offset by a 21% decline in Technical Solutions revenue. Centrus’ commercial backlog expanded to $4.5 billion through 2040, including $3 billion in contingent LEU and HALEU enrichment sales. The company also secured a $900 million DOE task order and new HALEU agreements with Oklo and X-energy to support capacity expansion. Management maintained 2026 revenue guidance of $450 million to $500 million and capital-spending guidance of $350 million to $500 million. Centrus expects spending to accelerate, raised its 2026 Piketon hiring target to more than 175 employees, and continues targeting commercial production in 2029. 3 Nuclear Stocks for Investors Willing to Wait Out the Dip Centrus Energy (NYSE:LEU) reported second-quarter 2026 revenue growth and expanded its commercial backlog as the company advanced plans to build U.S. uranium-enrichment capacity for low-enriched uranium, or LEU, and high-assay low-enriched uranium, or HALEU. Revenue for the quarter ended June 30 rose 14% from a year earlier to $176.1 million. The company reported gross profit of $49.9 million, operating income of $10.4 million and net income of $16.8 million, or $0.77 per diluted share. Adjusted net income was $38.7 million, equivalent to $1.77 per diluted share. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling The Power Grid Is Dying—Is It Time to Buy Its Replacement? President and Chief Executive Officer Amir Vexler said the quarter benefited from demand growth across Centrus’ commercial LEU, national-security and HALEU markets. He said the company sees a growing imbalance between enrichment supply and demand, alongside continued increases in published LEU prices. Centrus ended the quarter with a $4.5 billion backlog extending through 2040, including $3.7 billion in its LEU segment and $800 million in its Technical Solutions segment. The LEU backlog included $700 million of broker-dealer business and $3 billion in contingent LEU and HALEU enrichment sales. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High 3 Overlooked Nuclear Fuel Supply Chain Winners Chief Financial Officer Todd Tinelli said backlog growth was driven by an approximately $600 million increase in LEU and HALEU enrichment sales. Of the roughly $3 billion in enrichment backlog, $2.4 billion was under definitive agreements. The company said the backlog increase reflected commercial agreements and did not include Department of Energy awards. Centrus said it has met all financial contingencies associated with its contingent LEU enrichment backlog, covering more than $3 billion in customer contracts. Vexler said this milestone reduces risk around the company’s multi-billion-dollar capacity expansion and could improve its position with utilities considering long-term enrichment supply arrangements. → No Hangover: Revisiting Microsoft One Week After Earnings Management said it expects the existing fleet of nuclear reactors to remain a core source of demand for LEU, while HALEU represents an incremental growth opportunity tied to advanced-reactor development. Vexler described HALEU as a potential source of near-term capital through customer prepayments. During the quarter, Centrus signed a $900 million Department of Energy task order intended to support deployment of large-scale production capacity as part of its LEU and HALEU expansion. The company said the award provides non-dilutive, non-debt funding and represents a transition from its technology-demonstration work to a larger contract supporting commercial-scale production. The company also said it completed all HALEU production requirements under its existing DOE demonstration contract two weeks ahead of schedule. Since beginning its HALEU Operations contract, Centrus has contractually produced nearly two metric tons of HALEU uranium hexafluoride for the government. While new capacity from the expansion is expected to begin coming online in 2029, Centrus said it is working with the DOE on agreements that would allow it to operate the existing 16-centrifuge HALEU cascade commercially in the interim. Separately, Centrus signed a letter of intent to supply HALEU to power up to five Oklo Aurora powerhouses for multiple years beginning in 2029. The company also announced a definitive HALEU off-take agreement with X-energy on the day of the earnings call. Management did not disclose delivery volumes, timing or commercial terms for the X-energy agreement. Vexler said Centrus’ HALEU agreements generally include prepayments that will be further negotiated in future definitive agreements. He said the company intends to use such prepayments as another non-dilutive, non-debt source of expansion funding. The LEU segment generated $153.4 million in second-quarter revenue, up 22% from the prior-year period. Separative work unit, or SWU, revenue declined by $25.7 million as SWU volumes sold fell 23%, partly offset by a 3% increase in the average SWU price. Centrus also recorded $53.4 million in uranium sales during the quarter. Technical Solutions revenue declined 21% to $22.7 million, primarily because of a $5.9 million decrease in revenue from the HALEU Operations contract. Net income fell from $28.9 million a year earlier. Tinelli attributed the decrease primarily to a $12.8 million increase in selling, general and administrative expenses, including higher stock compensation, and a $7.5 million increase in advanced technology costs. Those factors were partly offset by an $8.3 million increase in investment net income. Advanced technology costs included short-term, non-capitalized costs related to manufacturing readiness and security training for the company’s Piketon, Ohio, and Oak Ridge, Tennessee, expansion efforts. Tinelli said Centrus expects a certain level of these expenses to continue flowing through its income statement while preparations proceed. Total capital spending was $82.2 million in the second quarter, including $71.6 million of capital expenditures and $10.6 million of non-capitalized advanced technology costs. Centrus expects spending to accelerate through the remainder of 2026. It finished the quarter with $1.9 billion of unrestricted cash and said it raised $53.9 million through its at-the-market equity program. Centrus reaffirmed its 2026 guidance for total revenue of $450 million to $500 million and total capital spending of $350 million to $500 million. The company also continues to target finalized agreements with all suppliers it deems critical, release of a certified-for-construction package, and at least 100 net new employees at its Oak Ridge facility. The company raised its Piketon hiring target to more than 175 net new employees in 2026, from a prior goal of more than 100. Centrus also expects to complete its first centrifuge at its Oak Ridge manufacturing facility during 2026. Management said the Oak Ridge plant will manufacture centrifuges for shipment and installation at Piketon, where Centrus is preparing to begin enrichment operations. Vexler said the company’s target is to begin commercial production in 2029, while it continues to explore ways to compress timelines without providing a revised schedule. Centrus plans to host its first investor day in December at its American Centrifuge plant in Piketon. Centrus Energy Corp is a U.S.-based supplier of nuclear fuel and enrichment services, specializing in the production of low-enriched uranium (LEU) for commercial power reactors and highly enriched uranium for naval propulsion. Through its Centrus Global subsidiary, the company provides technical support, fuel fabrication services and recycled uranium products to utilities operating light-water reactors. Centrus also develops advanced centrifuge technologies aimed at improving enrichment efficiency and reducing the cost of nuclear fuel. Originally founded as the United States Enrichment Corporation (USEC) in 1998 following a spin-out from the U.S. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Centrus Energy Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Centrus Energy Corp. LEU used its second-quarter 2026 earnings call to emphasize stronger commercial orders and funding progress around its multibillion-dollar uranium-enrichment expansion. President and CEO Amir Vexler framed supply tightness as support for enrichment pricing, while Centrus kept most 2026 targets intact and raised its Piketon hiring goal. Vexler said demand remains strong across commercial low-enriched uranium, national security and high-assay low-enriched uranium, or HALEU, while long-term LEU pricing has continued to rise. Vexler cited reactor restarts, power upgrades and new nuclear development as demand drivers, alongside government interest and Centrus’ NNSA work on national-security enrichment. During Q&A, a JPMorgan analyst asked about customer behavior ahead of the Russian import ban. Vexler said buyer interest is strong amid growing demand and limited new supply in the next year or two. Vexler said the $900 million Department of Energy enrichment award provides nondilutive, non-debt funding for the expansion. Centrus also completed HALEU production requirements under its demonstration contract two weeks early. Vexler said Centrus has produced nearly 2 metric tons of HALEU UF6 for the government. New capacity is expected in 2029, while Centrus works with DOE to operate the existing 16-centrifuge cascade commercially. CFO Todd Tinelli said $1.9 billion in unrestricted cash is sufficient for near-term capital needs. Separately, DOE has communicated that it does not currently intend to exercise further options under the HALEU operations contract. Vexler said backlog reached $4.5 billion through 2040. The LEU segment accounted for $3.7 billion, including about $3 billion of contingent LEU and HALEU enrichment sales. Tinelli said $2.4 billion of that enrichment backlog is under definitive agreements. In Q&A, Vexler clarified that the backlog increase came from commercial agreements and excluded the DOE award. A William Blair analyst asked about the Oklo and X-energy HALEU agreements. Vexler said X-energy is definitive, Oklo is moving toward a definitive contract, and prepayments remain a source of nondilutive capital. Vexler reaffirmed 2026 revenue guidance of $450 million to $500 million and total capital spend of $350 million to $500 million. Centrus raised its Piketon hiring target to more than 175 net new employees. Tinelli said second-quarter capital spend was $82.2 million, including $71.6 million of CapEx and $10.6 million of non-CapEx spending. He expects spending to accelerate through the year. Revenues of $176.1 million topped the Zacks Consensus Estimate of $148.31 million. Earnings of $0.77 per share exceeded the consensus mark of $0.74. Centrus Energy Corp. price-consensus-eps-surprise-chart | Centrus Energy Corp. Quote A ROTH Capital analyst asked whether commercial production still starts around late 2029. Vexler said the goal is production in 2029, dropping the late qualifier without committing to acceleration. An Evercore analyst pressed on spending. Tinelli said the project will continue to ramp but declined to provide 2027 guidance, tying the cadence to customer demand and preparations at Piketon. A Truist analyst asked about utility contracting. Vexler said removal of financial contingencies lowers Centrus’ risk profile with utilities. Tinelli added that current RFP activity targets future delivery periods. Vexler said cost reduction and shorter lead times remain priorities as Centrus scales manufacturing. He cited work with Palantir, engineering and construction partners, and major suppliers to improve efficiency. Vexler also tied faster hiring at Piketon to lead-time efforts. The first centrifuge from the Oak Ridge manufacturing operation is expected to be completed during 2026. Vexler’s call emphasis remained on converting demand and funding into manufacturing progress, with the 2029 production goal serving as the central operating milestone. LEU carries a Zacks Rank #3 (Hold). Under the Zacks framework, a #3 rank can support holding a stock, while the strongest combinations generally pair Zacks Rank #1 (Strong Buy) or #2 (Buy) stocks with Style Scores of A or B. You can see the complete list of today’s Zacks #1 Rank stocks here. LEU has a Value Score of F, Growth Score of F, Momentum Score of D and a VGM Score of F, weak grades in the framework. The Zacks Rank can change as estimates are revised after the just-reported results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Centrus Energy Corp. (LEU) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Centrus Energy LEU reported second-quarter 2026 earnings of 77 cents per share, surpassing the Zacks Consensus Estimate of 74 cents by 4.05%. However, the figure declined 51.6% from $1.59 per share in the prior-year quarter. The year-over-year decline was primarily due to the higher cost of sales in the Low-Enriched Uranium segment and increased administrative and advanced technology expenses. These headwinds were partially offset by higher uranium revenues and investment income. Adjusted earnings per share, which exclude growth costs and stock-based compensation, were $1.77 compared with $1.90 in the prior-year quarter. Revenues rose 14% year over year to $176.1 million and surpassed the consensus mark of $146 million. Centrus Energy Corp. price-consensus-eps-surprise-chart | Centrus Energy Corp. Quote Total cost of sales rose 25.4% to $126.2 million, resulting in a 7% year-over-year decline in gross profit to $49.9 million. Gross margin contracted to 28.3% from 34.9% in the prior-year quarter. Advanced technology costs increased to $10.8 million from $3.3 million as Centrus Energy supported its uranium enrichment expansion. Selling, general and administrative expenses nearly doubled to $26.2 million, primarily reflecting higher stock-based compensation. Operating income dropped to $10.4 million from $33.5 million, while operating margin narrowed to 5.9% from 21.7%. The Low-Enriched Uranium segment revenues increased 22% year over year to $153.4 million. Uranium revenues totaled $53.4 million in the reported quarter compared with no uranium revenues in the prior-year period. Separative work units (SWU) revenues declined 20% year over year to $100 million as sales volumes fell 23%, partly offset by a 3% increase in the average selling price. Low-Enriched Uranium segment’s cost of sales rose 36% to $101.8 million, mainly due to higher uranium volumes.  SWU costs decreased as a result of a 23% decline in the volume of SWU sold, partially offset by a 13% increase in the average unit cost of SWU sold. Technical Solutions revenues declined 21% year over year to $22.7 million. The decrease primarily reflected a $5.9 million reduction in revenues generated from the DOE’s High-Assay, Low-Enriched Uranium (HALEU) operation contract, while the remaining change was related to other contracts. Cost of sales for the segment was $24.4 million compared with $25.6 million in the year-ago quarter. The decrease was mainly due to a $1.9 million decline in costs incurred under the HALEU Operation Contract, while the remaining change was generally attributable to other contracts. The segment recorded a gross loss of $1.7 million against a gross profit of $3.2 million a year earlier. Centrus Energy signed a $900 million HALEU enrichment award with the DOE and selected Geiger Brothers as the construction contractor for its major enrichment expansion. The company also expects to complete its first new centrifuge in Oak Ridge, TN, by the end of 2026. Centrus Energy’s total backlog was $4.5 billion as of June 30, 2026, which extends through 2040. The Low-Enriched Uranium segment accounted for approximately $3.7 billion, including $3 billion of contingent LEU and High-Assay, Low-Enriched Uranium sales commitments. Of the contingent commitments, $2.4 billion was covered by definitive agreements. These contracts support the potential construction of new LEU and HALEU production capacity at the company’s Piketon, OH, facility. Technical Solutions backlog totaled roughly $800 million. However, the proposed DOE budget for fiscal 2027 does not include additional funding for operation of the existing HALEU cascade, which represents most of Technical Solutions’ backlog. Separately, DOE has stated that it does not currently plan to exercise further options under the HALEU Operation Contract. Cash and cash equivalents totaled $1.87 billion at quarter-end. Operating activities used $16.7 million during the first six months of 2026, while capital expenditures increased sharply to $94.8 million from $5.7 million a year earlier. Centrus Energy continues to expect 2026 revenues between $450 million and $500 million. Total capital deployment is projected in the range of $350-$500 million, reflecting increased investment in centrifuge manufacturing and the broader industrial buildout. The company raised its Piketon hiring target to at least 175 net new employees from the prior goal of 100. It continues to expect at least 100 net new hires in Oak Ridge, completion of a Certified-for-Construction package and finalized contracts with all partners identified as critical to the expansion. The company’s shares have lost 19.2% in the past year against the industry’s 71.7% growth. Image Source: Zacks Investment Research LEU currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Cameco Corporation CCJ reported earnings per share of 13 cents, missing the Zacks Consensus Estimate of 26 cents per share. Earnings declined 75% year over year. Quarterly revenues came in at CAD 814 million ($588 million), topping expectations despite declining 7% year over year. Uranium revenues were reported at CAD 659 million ($469 million), down 7% year over year. An 18% decline in sales volumes was offset by a 15% increase in the Canadian dollar average realized price to CAD 93.13 per pound due to the impact of market-priced contracts on its portfolio. The Fuel Services segment’s revenues were down 6% to CAD 152 million ($108 million) due to an 18% decrease in sales volume, offset by a 13% increase in realized price. Ur-Energy Inc. URG is scheduled to release second-quarter 2026 results on Aug. 10. The Zacks Consensus Estimate for Ur-Energy’s bottom line is pegged at a loss of four cents per share, in line with the year-ago quarter. The consensus estimate for Ur-Energy’s top line is pegged at $13.43 million, indicating 28.7% growth from the prior-year reported figure. Uranium Energy Corp. UEC is expected to release fourth-quarter fiscal 2026 results soon. The Zacks Consensus Estimate for Uranium Energy’s bottom line is pegged at a loss of four cents per share, an improvement from the loss of seven cents reported in the year-ago quarter. The consensus estimate for Uranium Energy’s revenues is pegged at $9 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Centrus Energy Corp. (LEU) : Free Stock Analysis Report Cameco Corporation (CCJ) : Free Stock Analysis Report Ur Energy Inc (URG) : Free Stock Analysis Report Uranium Energy Corp. (UEC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Centrus Energy Corp (NYSE:LEU) reported strong Q2 2026 results with revenue of $176.1 million, a 14% increase year-over-year, and adjusted net income of $38.7 million. The company's backlog grew to $4.5 billion, extending through 2040, driven by a $600 million increase in LEU and HALEU enrichment sales. Centrus Energy Corp (NYSE:LEU) signed a $900 million task order with the DOE, unlocking substantial non-dilutive, non-debt funding to de-risk its commercial centrifuge build-out. The company secured new HALEU off-take agreements with Oklo and X-Energy, validating its first-mover advantage in the HALEU market and including prepayments as a source of non-dilutive capital. Centrus Energy Corp (NYSE:LEU) met all financial contingencies for its $3 billion in customer contracts, and expects to complete its first centrifuge at Oak Ridge in 2026, a key manufacturing milestone. The company is seeing strong demand tailwinds across all markets (commercial LEU, national security, and HALEU), supported by rising LEU prices and a constructive pricing environment. Centrus Energy Corp (NYSE:LEU) experienced a decrease in SWU revenue by $25.7 million due to a 23% decrease in volume sold, partially offset by a 3% price increase. Technical Solutions segment revenue decreased by 21% year-over-year, primarily due to a $5.9 million decrease in revenue from the HALEU Operations contract. Net income decreased to $16.8 million in Q2 2026 from $28.9 million in Q2 2025, impacted by a $12.8 million increase in SG&A costs and a $7.5 million increase in advanced technology costs. The company faces ongoing cost pressures, with SWU costs increasing 13% and uranium costs rising due to higher sales volumes, impacting gross profit margins. Centrus Energy Corp (NYSE:LEU) continues to incur significant non-capitalized advanced technology costs related to manufacturing readiness and security training, which are expected to flow through the income statement in the near term. The company is unable to provide specific details on delivery timelines and pricing for its new HALEU contracts, limiting visibility for investors. Warning! GuruFocus has detected 8 Warning Signs with LEU. Is LEU fairly valued? Test your thesis with our free DCF calculator. Q: Given that we're less than 18 months from the Russian import ban going into effect, have you seen any changes in buyer behavior? How should we think about potential changes in financials, including inventory or working capital, assuming customers prefer to pre-buy?A: Amir Vexler (CEO): We are seeing strong momentum in customer interest in buying SWU and specifically turning to Centrus as the new entrant into the market. The LEU pricing has had a very strong run-up, which is helpful to our business. We see tightness on the supply side toward the end of the decade, and with strong demand-side additions and not much added to supply in the next year or two, the momentum is playing in favor of sellers. Q: On the X-Energy partnership, could you give us a sense of the cadence of deliveries you expect to make? Do you expect any of those volumes to come from the demonstration cascade that you're converting to commercial offtake?A: Amir Vexler (CEO): We announced a very exciting definitive agreement with X-Energy this morning, which is another data point showing Centrus is becoming the go-to for HALEU. These agreements include prepayments, which are significantly helpful to us. Unfortunately, I cannot provide too many details around deliveries and other specific terms under the contract due to confidentiality, but it is definitive and we look forward to fulfilling it. Q: Can you highlight anything where the two HALEU contracts you recently signed with Oklo and X-Energy may be the same or differ in size, timing, or contract structure? Is one further along or more definitive?A: Amir Vexler (CEO): There are a lot of similarities. We are seeing a much greater ability from our customer base to commit to legally binding definitive agreements, as seen with X-Energy, and we are marching toward that with Oklo as well. The LOI with Oklo is a step that precedes a definitive contract. We are seeing the SMR market mature, and we are leading the pack as the HALEU supplier. The third similarity is prepayments, which add significantly to our non-dilutive capital. Q: On the cost savings front, the partnership with Palantir has proven valuable. What does the picture for further cost savings look like throughout the expansion project, and are there specific cost areas you're focusing on?A: Amir Vexler (CEO): Cost savings is at the top of our priority list. We are unlocking efficiencies with Palantir and our EPC partners. Locking in larger order books and having more clarity into the customer base allows us to make more leveraged buys and realize savings on the supply side. We are also launching internal efforts to ensure manufacturing facilities use lean processes to maximize efficiencies. We cannot provide specific numerical targets, but long-term agreements and large orders result in significant cost savings. Q: Can you talk about the SWU price dynamics? Prices went up 3% during the quarter, whereas costs went up 30%. What are the drivers for the costs going up?A: Amir Vexler (CEO) & Todd Sinelli (CFO): SWU prices are escalating due to demand outstripping supply. No new capacity has been added, and we continue to hear of more reactors coming online, all requiring fuel. The cost increase relates to the contractual mix of SWU and uranium costs and how we account for inventory on the books. Our margins are coming in line with expectations, and we continue to see market demand that will maintain SWU prices. Q: As you transition the HALEU cascade from cost-reimbursable DOE work to commercial operations, what does the fully ramped earnings power of the combined LEU and HALEU business look like? What needs to go right over the next 18 to 24 months?A: Todd Sinelli (CFO) & Amir Vexler (CEO): We don't provide additional guidance on that. The transition of the demo cascades to commercial demonstrates our ability to operate these cascades and produce HALEU for the market. These require LEU feedstock and will develop over time. The intent of the demo cascade was to de-risk the technology, and transitioning this equipment into commercial operations is a great story that demonstrates our technology's capability and high expectations. Q: Is it still the expectation that commercial production would commence around late 2029 at Piketon, or is that timeline potentially moving forward?A: Amir Vexler (CEO): I would remove the adjective "late" and just say in 2029, that is our goal. We are exploring opportunities and working hard to ensure we can potentially compress timelines, but there is nothing to announce and no commitments at this point. Q: Can you give an update on how discussions are going with utilities for LEU on potential long-term contracts now that you've met financial contingencies? Are you seeing more urgency from traditional utility customers?A: Amir Vexler (CEO) & Todd Sinelli (CFO): The LEU market provides a strong foundation for our off-take backlog. Having no required contingencies makes us a much lower-risk enricher, giving us more play with utilities. We are seeing more interest from utilities in the few enrichment providers in the market, and being the new entrant gives us advantages. Discussions are lumpy and take time, but we continue to make existing reactor LEU needs a priority. The market anticipated the Russian ban, and utilities have secured near-term positions, so discussions are for future periods when we plan to have capacity online. Q: On the hiring front, you're accelerating hiring goals at Piketon. Can you touch on the potential de-risking or acceleration of timelines to first cascade given the hiring acceleration?A: Amir Vexler (CEO) & Todd Sinelli (CFO): Improving lead times is a tangible benefit to the company in terms of getting to market quicker. The acceleration in adding workforce is directly related to going faster and taking costs out. We are setting up a first-of-a-kind manufacturing facility in Oak Ridge to produce centrifuges, which are then shipped to Piketon for installation. All these items are connected, and the quicker we stand up manufacturing, the quicker we can begin enrichment. We invite you to attend the Investor Day in December to see the facility in detail. Q: Can you talk about pricing structures in your offtake agreements? Are you using fixed price structures or indexing to some type of pricing? How much offtake do you want decided today?A: Todd Sinelli (CFO): We can't comment on the specific For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Revenue of $176.1 million, compared to revenue of $154.5 million in Q2 2025 GAAP net income of $16.8 million compared to GAAP net income of $28.9 million in Q2 2025 Non-GAAP adjusted net income (1) of $38.7 million, compared to non-GAAP adjusted net income(1) of $34.5 million in Q2 2025 Signed $900 million High-Assay, Low-Enriched Uranium (HALEU) Enrichment award contract with U.S. Department of Energy Grew contingent Low-Enriched Uranium (LEU) and HALEU enrichment backlog to $3.0 billion Selected Geiger Brothers as construction contractor for major uranium enrichment plant expansion Signed first-of-a-kind, large-scale commercial HALEU supply agreement that potentially includes prepayments Raising full year 2026 hiring guidance in Piketon, Ohio Expecting completion of first new centrifuge in Oak Ridge, Tennessee, by year-end 2026 BETHESDA, Md., Aug. 5, 2026 /PRNewswire/ -- Centrus Energy Corp. (NYSE: LEU) ("Centrus" or the "Company") today reported second quarter 2026 results. The Company reported net income of $16.8 million for the three months ended June 30, 2026, which is $0.85 (basic) and $0.77 (diluted) per common share. This translates to adjusted net income(1) of $38.7 million for the three months ended June 30, 2026, which is adjusted EPS(1) of $1.95 (basic) and $1.77 (diluted) per common share. "This was another strong quarter of financial and operational progress for Centrus that included a number of commercial wins for our future enrichment business as we capitalize on strong industry tailwinds and our operational momentum," said Centrus Energy President and CEO Amir Vexler. "Operationally we continued on full-execution mode for our centrifuge manufacturing and expansion programs. Our strategy includes risk-reducing measures like locking in a majority of the suppliers deemed critical with larger commitments to help insulate the project from potential price fluctuations. Simultaneously, we further strengthened our financial position by signing our HALEU award while securing possible prepayments from offtakers. Our progress has allowed us to announce that our first new centrifuge will be competed in Oak Ridge before the end of the year." "In general, we continue to see healthy demand momentum with consistent constrained supply, resulting in upward pressure on SWU prices. Our operational progress coupled with strong demand signals across all our end-markets has provided Centrus with strong backlog growth and momentum, and we look forward to further capitalizing on our position as the only publicly-traded, proven enricher in the market." (1)A reconciliation of non-GAAP results are detailed in the Financial Results section. Additional information can be found in the materials on the Centrus investor relations website at https://investors.centrusenergy.com. Financial Results Centrus generated total revenue of $176.1 million and $154.5 million for the three months ended June 30, 2026 and 2025, respectively, an increase of $21.6 million (or 14%). Revenue from the LEU segment was $153.4 million and $125.7 million for the three months ended June 30, 2026 and 2025, respectively, an increase of $27.7 million (or 22%). The Company had uranium revenue of $53.4 million for the three months ended June 30, 2026. Separative work units (SWU) revenue decreased by $25.7 million as a result of a 23% decrease in the volume of SWU sold, partially offset by a 3% increase in the average price of SWU sold. Revenue from the Technical Solutions segment was $22.7 million and $28.8 million for the three months ended June 30, 2026 and 2025, respectively, a decrease of $6.1 million (or 21%). The decrease in revenue was primarily attributable to a $5.9 million decrease in revenue generated by the HALEU production contract with the Department of Energy ("DOE") signed in 2022 ("HALEU Operation Contract"), while the remaining change was related to other contracts. Revenue from the HALEU Operation Contract is recorded on a cost-plus-incentive-fee basis and includes a target fee for Phases 2 and 3 of the contract. Cost of sales for the LEU segment was $101.8 million and $75.0 million for the three months ended June 30, 2026 and 2025, respectively, an increase of $26.8 million (or 36%). Uranium costs increased primarily as a result of an increase in the volume of uranium sold. SWU costs decreased as a result of a 23% decrease in the volume of SWU sold, partially offset by a 13% increase in the average unit cost of SWU sold. Cost of sales for the Technical Solutions segment was $24.4 million and $25.6 million for the three months ended June 30, 2026 and 2025, respectively, a decrease of $1.2 million (or 5%). The decrease was primarily attributable to an $1.9 million decrease in costs incurred under the HALEU Operation Contract, while the remaining change was generally attributable to other contracts. The Company recognized gross profit of $49.9 million and $53.9 million for the three months ended June 30, 2026 and 2025, respectively, a decrease of $4.0 million (or 7%). Gross profit for the LEU segment was $51.6 million and $50.7 million for the three months ended June 30, 2026 and 2025, respectively, an increase of $0.9 million (or 2%). LEU customers generally have multi-year contracts that carry annual purchase commitments, not quarterly commitments. The gross profit in our LEU business varies based upon the timing of those contracts. The pricing applied to deliveries varies depending upon the market conditions at the time the contract was signed. The increase for the three months ended June 30, 2026 was primarily due to the change in the composition of contracts quarter over quarter. Gross profit (loss) for the Technical Solutions segment was a loss of $1.7 million and profit of $3.2 million for the three months ended June 30, 2026 and 2025, respectively, a decrease of $4.9 million (or 153%). The decrease was primarily attributable to the HALEU Operation Contract. Net income was $16.8 million and $28.9 million for the three months ended June 30, 2026 and 2025, respectively, a decrease of $12.1 million (or 42%). The decrease was primarily attributable to an increase in selling general, and administrative costs of $12.8 million (driven by the $17.2 million increase in stock-compensation expense related to non-employee tax withholdings of RSUs), an increase in advanced technology costs of $7.5 million and a decrease in gross profit of $4.0 million. This was partially offset by an increase of $8.3 million in investment income and a decrease of $3.7 million in income tax expense. Backlog The Company's backlog across both segments is $4.5 billion as of June 30, 2026 and extends to 2040. Our LEU segment backlog as of June 30, 2026 is approximately $3.7 billion. The LEU backlog is the estimated aggregate dollar amount of revenue for future SWU and uranium deliveries primarily under medium and long-term contracts with fixed commitments and approximately $3.0 billion in contingent LEU and HALEU sales commitments, a $2.4 billion of which are under definitive agreements, in support of potential construction of LEU and HALEU production capacity at the Piketon, Ohio facility. The contingent sales commitments tend to relate to achievement of operational milestones. Our Technical Solutions segment backlog is approximately $0.8 billion as of June 30, 2026, and includes both funded amounts (services for which funding has been both authorized and appropriated by the customer), unfunded amounts (services for which funding has not been appropriated), and unexercised options. The current DOE budget proposed for fiscal year 2027 does not include further funding for the operation of the HALEU cascade under the HALEU Operation Contract, which represents approximately $0.8 billion of the Technical Solutions backlog as of June 30, 2026. Separately, DOE has communicated that it does not currently intend to exercise further options under the HALEU Operation Contract. 2026 Outlook The Company is updating some of its financial and operational guidance for the full year 2026 based on information available to the Company at the time of this release. Financial 2026 OutlookFor the full year 2026, on a consolidated basis, Centrus expects: Total revenue to be in the range of $450 million to $500 million Total capital deployment to be in the range of $350 million to $500 million, driven by increased investment in the Company's industrial build out related to its centrifuge manufacturing Operational 2026 OutlookFor the full year 2026, on a consolidated basis, Centrus expects to: Finalize contracts with all partners identified as critical to its industrial build out Hire at least 100 net new employees for its Oak Ridge, Tennessee, facility Hire at least 175 net new employees for its Piketon, Ohio, facility up from 100 net new employee hires Release a Certified for Construction package Complete its first centrifuge in Oak Ridge, Tennessee The Company's 2026 guidance is subject to a number of assumptions and uncertainties that could affect results either positively or negatively. Variations from these expectations could cause differences between this guidance and the ultimate results. This includes the assumption of no significant change in restrictions in our ability to receive and sell Russian LEU or other uranium products, no significant economic disruptions or downturns, the successful implementation of our planned expansion projects, and that current business operations will continue on an ongoing basis. About Centrus Energy Corp. 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. Find out more at www.centrusenergy.com or follow us on LinkedIn and X. Forward-Looking Statements: This news release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", "will", "should", "could", "would" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions with respect to future events and operational, economic and financial performance. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control and which may be exacerbated by any worsening of the global business and economic environment including but not limited to, risks and uncertainties related to the following: the war in Ukraine and other geopolitical conflicts, including the resulting bans, laws, tariffs, sanctions or other government measures, and actions by third parties, including contractual counterparties, as a result of such conflicts that could directly or indirectly impact our ability to obtain, deliver, transport, sell or collect payment for, LEU or the SWU and natural uranium hexafluoride components of LEU; our reliance on third party suppliers to provide essential products and services to us; restrictions on imports and exports, including those imposed under the RSA, and related to international trade legislation; our lease to our facility in Piketon, Ohio and our government contracts, including related to government shutdowns, changes to the U.S. government's appropriated funding levels for HALEU and the government's inability to satisfy its obligations; our receipt of additional task orders under the HALEU Production Contract, LEU Production Contract and HALEU Deconversion Contract and, if awarded, the nature, timing and amount thereof; our ability to obtain new contracts or funding to be able to continue operations; whether or when government demand for HALEU or LEU for government or commercial uses will materialize and at what level; the impact and potential extended duration of a supply/demand imbalance in the market for LEU; significant competition from major LEU producers, including foreign competitors, who may be less cost sensitive than we are; limitations on our ability to compete in foreign markets; pricing trends and demand in the uranium and enrichment markets, especially in light of the potential of limited supply and our dependence on others for deliveries of LEU; our ability to successfully implement our planned expansion projects in Piketon, Ohio and Oak Ridge, Tennessee, including our ability to raise the capital necessary for such projects; our ability to successfully integrate artificial intelligence technologies into our operations; natural and other disasters; pandemics and other health crises; the fact that our revenue is largely dependent on our largest customers and our sales backlog; our long-term liabilities, including our postretirement health and life benefit obligations, our 0% Convertible Notes and our 2.25% Convertible Notes; failures or security, including cybersecurity, breaches of our information technology systems; and the impact of, or changes to, government regulation and policies or interpretation of laws or regulations, including by the U.S. Securities and Exchange Commission, the DOE, the U.S. Department of Commerce, and the U.S. Nuclear Regulatory Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. Readers are urged to carefully review and consider the various disclosures made in this news release and in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2025, under Part II, Item 1A - "Risk Factors" in our Quarterly report on Form 10-Q for the quarter ended March 31, 2026, under Part II, Item 1A - "Risk Factors" in our Quarterly report on Form 10-Q for the quarter ended June 30, 2026, and our filings with the SEC that attempt to advise interested parties of the risks and factors that may affect our business. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law. Contacts: Investors and Media: Neal Nagarajan at [email protected] CENTRUS ENERGY CORP.NON-GAAP ADJUSTED OPERATING INCOME, ADJUSTED NET INCOME ANDADJUSTED NET INCOME PER SHARE RECONCILIATION TABLE The Company measures Operating Income, Net Income and Net Income per Share both on a GAAP basis and on an adjusted basis ("Adjusted Operating Income", "Adjusted Net Income" and "Adjusted Net Income per Share") to exclude short-term, non-capitalizable costs related to the expansion of our operations in Piketon, Ohio and Oak Ridge, Tennessee to scale up uranium enrichment operations ("Growth Costs") and stock-based compensation. Growth Costs relate to the initial phase of our expansion projects (e.g. manufacturing readiness and the training and onboarding of new employees) and are included as Advanced Technology Costs on the Condensed Consolidated Statements of Operations and Comprehensive Income. The Company expects to stop expensing Growth Costs as costs related to our expansion projects become capitalizable. We incur expense related to stock-based compensation which are included as Selling, General and Administrative expense on the Condensed Consolidated Statements of Operations and Comprehensive Income. We believe Adjusted Operating Income, Adjusted Net Income and Adjusted Net Income per Share, which are non-GAAP financial measures, provide investors with additional understanding of the Company's overall financial performance as well as its strategic financial planning analysis and period-to-period comparability. These metrics are useful to investors because they reflect how management evaluates the Company's ongoing operating performance from period-to-period after removing certain transactions and activities that affect comparability of the metrics and are not reflective of the Company's core operations. Our calculation of Adjusted Operating Income, Adjusted Net Income, and Adjusted Net Income per Share may not be comparable to similarly named measures reported by other companies. The following tables present a reconciliation of the operating income, the most directly comparable GAAP measure, to Adjusted Operating Income, a reconciliation of the net income, the most directly comparable GAAP measure, to Adjusted Net Income, and a reconciliation of the net income per share, the most directly comparable GAAP measure, to Adjusted Net Income Per Share, for each of the periods indicated: View original content to download multimedia:https://www.prnewswire.com/news-releases/centrus-reports-second-quarter-2026-results-302843983.html

Energy Fuels Inc. UUUU is scheduled to report second-quarter 2026 results on Aug. 6, after market close. While the company is expected to post another quarterly loss, revenues are projected to surge year over year on significantly higher uranium sales. The Zacks Consensus Estimate for UUUU’s revenues for the quarter is $30.2 million, indicating a solid 617.3% growth from the $4.21 million reported in the year-ago quarter. The estimate for earnings has remained unchanged at a loss of five cents per share over the past 60 days. It indicates a narrower loss than the loss of 10 cents reported in the second quarter of 2025. Image Source: Zacks Investment Research Over the trailing four quarters, Energy Fuels’ earnings beat the Zacks Consensus Estimate once while missing thrice. The company has a trailing four-quarter negative earnings surprise of 46.28%, on average. Image Source: Zacks Investment Research Our proven model does not conclusively predict an earnings beat for Energy Fuels this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. Earnings ESP: UUUU has an Earnings ESP of 0.00%. You can uncover the best stocks before they are reported with our Earnings ESP Filter. Zacks Rank: The company currently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here. In July, Energy Fuels announced it had produced “over 1.5 million pounds” of uranium during the first half of 2026, already exceeding the low end of its full-year production guidance of 1.5-2.5 million pounds. After producing 790,000 pounds in the first quarter, this suggests second-quarter production likely exceeded 710,000 pounds. The company had also ended the first quarter with 2.24 million pounds of finished and contained uranium inventory.In the second quarter of 2025, the company generated uranium revenues of $3.9 million through the sale of 50,000 pounds of uranium in the spot market for $77 per pound, and from alternate feed materials, processing and others. Meanwhile, heavy mineral sands (HMS) contributed $0.28 million, taking total quarterly revenues to $4.2 million. Notably, the company’s HMS output was sourced from the Kwale Project, where mining was concluded in December 2024, and the final HMS product was shipped in April 2025. Since then, HMS has no longer been contributing to Energy Fuel’s revenues. Uranium prices averaged roughly $85.18 per pound during the second quarter of 2026, up 17% from the prior-year period. We expect Energy Fuels to have capitalized on this pricing environment and sold some uranium during the quarter, backed by its solid production numbers and inventory. The year-over-year higher volumes and prices are expected to have driven revenues to around $30 million. However, exploration, development and processing expenses are expected to have risen due to inflationary pressures and continued project advancement. Selling, general and administrative expenses are also anticipated to have increased, reflecting higher salaries and benefits associated with a larger workforce. However, the commencement of processing lower-cost ore from the Pinyon Plain mine in the fourth quarter of 2025 is expected to have lowered uranium production costs. Overall, while Energy Fuels is likely to report another quarterly loss, robust revenue growth and improved production efficiencies are expected to have narrowed losses from the prior-year period. Cameco Corporation CCJ reported earnings per share of 13 cents, missing the Zacks Consensus Estimate of 26 cents per share. Earnings declined 75% year over year. Quarterly revenues came in at CAD 814 million ($588 million), topping expectations despite declining 7% year over year. Uranium revenues were reported at CAD 659 million ($469 million), down 7% year over year. An 8% decline in sales volumes was offset by a 15% increase in the Canadian dollar average realized price to CAD 93.13 per pound due to the impact of market-priced contracts on its portfolio. The Fuel Services segment’s revenues were down 6% to CAD 152 million ($108 million) due to an 18% decrease in sales volume, offset by a 13% increase in realized price. Centrus Energy LEU is set to release its second-quarter 2026 results on Aug. 5, after market close. The Zacks Consensus Estimate for Centrus Energy’s second-quarter revenues is pegged at $145.61 million, suggesting a year-over-year decline of 5.7%. Over the past 60 days, the earnings estimate for second-quarter 2026 has moved down 16.3% to 77 cents per share. The figure reflects a 51.6% decline from the year-ago quarter’s earnings of $1.59 per share. Shares of Energy Fuels have gained 25% in a year compared with the industry's 64.5% growth. In comparison, the Zacks Basic Materials sector has gained 24.8%, while the S&P 500 has risen 23.3% in the same period. Energy Fuels has outperformed Cameco, which has gained 19.2% in the past year. Meanwhile, Centrus Energy declined 12%. Image Source: Zacks Investment Research UUUU stock is currently trading at a forward sales multiple of 15.86, well above the industry average of 4.59. Image Source: Zacks Investment Research Meanwhile, Cameco and Centrus Energy are trading at price-to-sales ratios of 15.20 and 7.76, respectively. Energy Fuels remains one of the leading uranium producers in the United States. It continues to scale uranium production while developing rare earth element (REE) capabilities, backed by its solid balance sheet. UUUU is pursuing strategic deals that expand its resource base, strengthen its position across the rare earth value chain and diversify revenue streams. The planned acquisition of Australian Strategic Materials will strengthen its position in REE metals and alloys. In June, it also announced another significant step toward becoming a fully integrated rare earths and magnetics company with its announcement to acquire Germany-based VAC Group (Vacuumschmelze) in a deal valued at approximately $1.9 billion. UUUU remains an attractive long-term play, providing meaningful exposure to the strong fundamentals of both uranium and rare earth markets. In the second quarter, the company is expected to deliver a solid improvement in revenues backed by its production momentum, sales volume and favorable pricing environment. However, elevated expenses are expected to have resulted in a loss for the second quarter and a beat is unlikely. No matter how the earnings play out, the company's long-term growth prospects in both uranium and rare earths continue to support a constructive investment outlook. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Energy Fuels Inc (UUUU) : Free Stock Analysis Report Cameco Corporation (CCJ) : Free Stock Analysis Report Centrus Energy Corp. (LEU) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Centrus Energy Corp. recently faced sharply lower analyst earnings and revenue estimates for its June 2026 quarter, with consensus revisions pointing to weaker near-term performance and a negative Earnings ESP ahead of the results. This shift in expectations highlights how sensitive sentiment is to changes in projected profitability for a company seen as a key player in US nuclear fuel supply. Next, we’ll examine how these more cautious earnings revisions may influence Centrus Energy’s previously optimistic investment narrative built around capacity expansion and HALEU growth. Capitalize on the AI infrastructure supercycle with our selection of the 56 best 'picks and shovels' of the AI gold rush converting record-breaking demand into massive cash flow. Centrus Energy’s appeal rests on belief in durable demand for Western nuclear fuel and its role in HALEU supply, backed by a large, long-dated contract backlog. The recent cut to June 2026 earnings and revenue estimates may weigh on sentiment in the short term, but it does not directly alter the key near term catalyst, which is execution on new HALEU capacity for the US Department of Energy, or the main risk around earnings volatility and contract timing. The most relevant recent announcement here is Centrus’ US$900 million HALEU task order from the DOE, with options up to US$1.07 billion. This contract underpins the growth story that many investors focus on when weighing weaker near term estimates, since it ties directly to capacity expansion at Piketon and the company’s efforts to move from demonstration to commercial scale HALEU production. Yet the bigger issue investors should be aware of is the risk that heavy reliance on a small set of government and utility customers could... Read the full narrative on Centrus Energy (it's free!) Centrus Energy's narrative projects $434.4 million revenue and $62.8 million earnings by 2029. Uncover how Centrus Energy's forecasts yield a $269.38 fair value, a 69% upside to its current price. Some of the lowest ranked analysts were already assuming revenues could fall toward about US$253.4 million by 2029 and earnings to roughly US$45.6 million, painting a far more pessimistic picture than consensus. When you compare that to today’s weaker near term estimates and the concentration risk in Centrus’ customer base, it shows how widely opinions can differ and why you may want to review several possible paths before deciding what this latest news really means. Explore 7 other fair value estimates on Centrus Energy - why the stock might be worth over 3x more than the current price! Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts. A great starting point for your Centrus Energy research is our analysis highlighting 1 key reward and 4 important warning signs that could impact your investment decision. Our free Centrus Energy research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Centrus Energy's overall financial health at a glance. Our top stock finds are flying under the radar-for now. Get in early: Invest in the nuclear renaissance through our list of 90 elite nuclear energy infrastructure plays powering the global AI revolution. AI is about to change healthcare. These 41 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. The future of work is here. Discover the 34 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include LEU. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]