Centrus Energy Corp. (NYSE: LEU) has released its financial results for the fourth quarter and full year of 2025, showcasing a robust performance that highlights the company’s strategic positioning within the nuclear energy sector. The release, dated February 10, 2026, outlines a profitable year with a net income of $77.8 million, translating to earnings per share of $4.33 (basic) and $3.90 (diluted).

1. Milestone Achievements in 2025

Amir Vexler, President and CEO of Centrus, emphasized the significance of 2025, calling it a milestone year for the company. The year was marked by substantial advancements in both its Low-Enriched Uranium (LEU) segment and the development of its future enrichment business. Key highlights include:

The launch of a centrifuge build-out.

Receipt of a $900 million High-Assay, Low-Enriched Uranium (HALEU) enrichment award from the government.

A burgeoning LEU sales backlog valued at $2.3 billion.

Vexler noted, “With a growing contingent LEU sales backlog... we are uniquely positioned to meet the commercial and national security market needs.” The company is on track to meet its production milestone of 12 metric tons of HALEU annually by the end of the decade.

2. Financial Overview

Revenue Performance

Centrus reported total revenue of $448.7 million for 2025, slightly up from $442.0 million in 2024. The breakdown of revenue by segment reveals a nuanced performance:

LEU Segment: Revenue decreased by 1% to $346.2 million from $349.9 million due primarily to a significant drop in uranium revenue, which fell by 54% ($55.6 million). Conversely, revenue from Separative Work Units (SWU) increased by 21%, contributing an additional $51.9 million due to a 23% increase in volume sold.

Technical Solutions Segment: This segment saw an 11% increase in revenue, totaling $102.5 million, primarily driven by the HALEU Operation Contract, which increased by $10.5 million.

Costs and Profitability

Centrus managed to reduce the cost of sales for the LEU segment to $234.7 million, an 8% decrease from $256.0 million in the previous year. This reduction was attributed to lower uranium costs, despite increased SWU costs due to higher sales volumes.

The company also reported a gross profit of $117.5 million for the year, up 5% from $111.5 million in 2024. Notably, gross profit from the LEU segment rose by 19% to $111.5 million, thanks to improved margins on SWU contracts. However, the Technical Solutions segment experienced a significant gross profit decline of 66%, largely due to increased costs under the HALEU Operation Contract.

3. Expansion Plans

Centrus is actively expanding its manufacturing and enrichment capacity, an initiative underscored by a significant $900 million task order awarded by the Department of Energy (DOE) to expand its Piketon, Ohio facility for HALEU production. Further, the company has initiated the design of a new training, operations, and maintenance facility, set to begin construction in early 2026. This facility will be essential for supporting the company’s enrichment capacity expansion.

4. Backlog and Future Outlook

As of December 31, 2025, Centrus reported a total backlog of $3.8 billion, with the LEU segment representing approximately $2.9 billion. This backlog is indicative of future revenue potential, particularly as the company seeks to fulfill its $2.3 billion in contingent LEU sales contracts.

2026 Financial Guidance

Looking ahead, Centrus has provided guidance for 2026, projecting total revenue between $425 million to $475 million. The company anticipates capital deployment in the range of $350 million to $500 million, driven by investments in its industrial build-out related to centrifuge manufacturing.

Operationally, Centrus aims to finalize contracts with critical partners, hire over 150 new employees across its Oak Ridge and Piketon facilities, and release a Certified for Construction package.

5. Conclusion

Centrus Energy Corp’s results for 2025 reflect a strong financial performance and a strategic vision aimed at solidifying its position within the nuclear energy sector. With significant growth opportunities on the horizon, including government mandates for HALEU and a substantial sales backlog, the company is well-positioned to meet the increasing demand for clean energy solutions. As the world moves toward electrification and advanced nuclear technologies, Centrus is set to play a pivotal role in the energy transition.

Original press release