Centrus Energy Misses Q4 Estimates, Secures $900M HALEU Award and Strong Backlog
Centrus Energy reported Q4 EPS of $0.79, missing the $1.28 consensus, and Q4 revenue fell to $146.2M from $151.6M a year earlier. For full-year 2025, revenue grew to $448.7M with net income of $77.8M, supported by a $900M HALEU award, a $2.3B sales backlog and 2026 guidance of $425M–$475M.
1. Q4 Earnings Miss Summary
Centrus Energy posted fourth-quarter EPS of $0.79 versus the $1.28 consensus, representing a 38% shortfall. Revenue for the quarter totaled $146.2 million, down from $151.6 million in Q4 2024, reflecting weaker uranium sales volumes and pricing pressures.
2. Full-Year 2025 Performance
For the year ended December 31, 2025, Centrus generated $448.7 million in revenue, up from $442.0 million a year earlier, and net income rose to $77.8 million. Gross profit increased by $6.0 million to $117.5 million, driven by higher separative work unit volumes despite a decline in uranium revenue.
3. HALEU Award and Backlog
The company secured a $900 million Department of Energy HALEU production award and received notice of sole-source intent from the National Nuclear Security Administration. Centrus also launched domestic centrifuge build-out to support a $2.3 billion LEU sales backlog and future HALEU supply.
4. 2026 Guidance Outlook
Centrus projects fiscal 2026 revenue between $425 million and $475 million, reflecting anticipated growth in LEU and HALEU segments. Management expects ongoing centrifuge expansion and backlog conversion to drive margin improvements and meet national security enrichment mandates.