Centrus Energy Q1 Revenue Up 5% to $76.7M, Net Income Falls to $10M
Centrus Energy’s Q1 revenue rose to $76.7 million from $73.1 million, while GAAP net income dropped to $10.0 million from $27.2 million and non-GAAP profit $23.5 million. It launched an Oak Ridge centrifuge expansion, partnered with Fluor, Palantir to find $300 million in cost savings, and raised 2026 revenue guidance.
1. Q1 Financial Results
Centrus reported total revenue of $76.7 million for Q1 2026, a 5% increase over Q1 2025’s $73.1 million. GAAP net income was $10.0 million, or $0.51 basic EPS, down from $27.2 million, while non-GAAP adjusted net income was $23.5 million, or $1.19 basic EPS.
2. Segment Performance
Revenue from the LEU enrichment segment fell 13% to $44.6 million due to a 47% drop in separative work unit volumes despite a 52% price increase. Technical Solutions revenue jumped 47% to $32.1 million, driven by activity under the HALEU production contract.
3. Strategic Partnerships and Expansion
The company initiated a multi-year centrifuge manufacturing expansion at Oak Ridge, Tennessee, and signed Fluor for engineering and procurement oversight. A collaboration with Palantir’s AI platform has identified approximately $300 million in potential cost savings, while a joint-venture with Oklo is under exploration for HALEU deconversion.
4. Guidance and Outlook
Based on commercial progress and identified efficiencies, Centrus raised its full-year 2026 revenue guidance. Management highlighted the expansion’s timing amid rising demand for domestic enrichment capacity and sustainable power sources.