Centrus Energy (LEU) investor relations material

Executive summary

• Q2 2026 revenue rose 14% year-over-year to $176.1 million, driven by strong demand in LEU, national security, and HALEU markets, and supported by higher uranium sales despite a decline in SWU volumes.

• Net income for Q2 2026 was $16.8 million, down 42% from the prior year due to increased advanced technology and administrative costs, including a $17.2 million non-cash stock compensation charge.

• Adjusted net income for Q2 2026 was $38.7 million, with adjusted diluted EPS of $1.77.

• Backlog expanded to $4.5 billion, with $3.7 billion in LEU and $0.8 billion in Technical Solutions, extending through 2040.

• Major milestones included a $900 million DOE enrichment award, new HALEU supply agreements, and operational progress in Piketon, OH, and Oak Ridge, TN.

Financial highlights

• Q2 2026 gross profit was $49.9 million; operating income was $10.4 million; net income margin was 9.5%.

• LEU segment revenue increased 22% year-over-year to $153.4 million; Technical Solutions revenue fell 21% to $22.7 million.

• Adjusted net income margin improved due to exclusion of non-capitalizable expansion costs.

• Q2 capital spend totaled $82.2 million, with $71.6 million in CapEx and $10.6 million in growth costs.

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

Outlook and guidance

• Reaffirmed 2026 annual revenue guidance of $450–$500 million and capital spend of $350–$500 million.

• Workforce addition guidance raised to at least 175 net new employees in Piketon, OH, and at least 100 in Oak Ridge, TN.

• First Oak Ridge centrifuge expected to be completed by year-end 2026.

• Guidance assumes no major disruptions in Russian LEU supply or significant economic downturns.

• Backlog extends to 2040, with ongoing efforts to accelerate enrichment capacity online by 2029.