Centrus Energy (LEU) investor relations material

Executive summary

• Q1 2026 revenue increased 5% year-over-year to $76.7 million, driven by Technical Solutions growth, while LEU segment revenue declined due to lower SWU sales volume but higher average prices.

• Net income for Q1 2026 was $10.0 million, down from $27.2 million in Q1 2025, primarily due to higher advanced technology costs and the absence of a prior-year debt extinguishment gain.

• Major expansion initiatives launched in Piketon and Oak Ridge, supported by a $900 million DOE HALEU award and strategic partnerships with Fluor and Palantir.

• Backlog reached $3.9 billion as of March 31, 2026, with $3.1 billion in LEU and $0.8 billion in Technical Solutions, extending to 2040.

• Exploring a joint venture with Oklo for HALEU deconversion services to enhance vertical integration.

Financial highlights

• Q1 2026 revenue: $76.7 million (up 5% year-over-year); LEU segment $44.6 million (down 13%), Technical Solutions $32.1 million (up 47%).

• Gross profit: $31.5 million (down 4% year-over-year); LEU segment $27.9 million (down 11%), Technical Solutions $3.6 million (up 112%).

• Net income: $10.0 million (down 63% year-over-year); adjusted net income: $23.5 million; diluted EPS: $0.45; adjusted diluted EPS: $1.05.

• Cash and cash equivalents at quarter-end: $1.9 billion.

• Q1 backlog stood at $3.9 billion, with $3.1 billion in LEU and $0.8 billion in Technical Solutions.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $450–$500 million, up from $425–$475 million.

• Capital deployment expected between $350–$500 million, with plans to hire at least 200 net new employees across Oak Ridge and Piketon.

• Guidance assumes no major disruptions in Russian LEU supply, successful DOE contract finalization, and stable economic conditions.

• Company anticipates adequate liquidity for at least the next 12 months and is pursuing further government contracts and partnerships.