Overview
- Centrus posted third-quarter earnings of $0.19 per share, topping the $0.08 consensus, while revenue of $74.9 million missed the $79.43 million estimate.
- Shares fell 6.43% in late trading after the results and were recently down 13.16% to $282.88 on Thursday.
- The company established an at-the-market program to sell Class A stock over time for up to $1.0 billion, with potential uses including operations, technology investment, debt reduction and acquisitions.
- LEU segment revenue rose to $44.8 million, up 29% year over year, and Technical Solutions revenue increased 31% to $30.1 million.
- Management said SWU revenue declined by $24.1 million due to a 69% drop in the average price of SWU sold, while highlighting progress toward an enrichment build-out to meet rising U.S. supply demand.