Centrus Energy Corp · Q1 2020 earnings

Briefing

Centrus reported a net income for Q1 2020 and an increase in revenue compared to the same period last year.

Centrus Energy Corp. reported a net income of $11.3 million for the quarter ended March 31, 2020, compared to a net loss of $20.9 million for the first quarter of 2019. Total revenue for the first quarter of 2020 was $45.0 million, an increase of $6.3 million, or 16%, from the prior year period. The increase was primarily the result of work performed under the high-assay, low-enriched uranium (HALEU) contract.

• Net income of $11.3 million, an improvement of $32.2 million compared to the net loss of $20.9 million in Q1 2019.
• Consolidated cash balance of $109.2 million as of March 31, 2020.
• Revenue from the technical solutions segment increased $10.7 million (or 297%).
• Gross profit of $19.6 million, an improvement of $25.1 million compared to the gross loss of $5.5 million in the corresponding period in 2019.

Headline financials

Revenue & EPS history

Operating results for the three months ended March 31, 2020, are not necessarily indicative of the results that may be expected for the year ending December 31, 2020.