Centrus Energy (LEU) delivered a remarkable 264% total return in 2025 and has added another 26% in the opening weeks of 2026, outperforming broader energy and utility indices. This surge reflects growing investor recognition of nuclear’s role in powering AI data centers: the International Energy Agency reports data centers already consume 1.5% of global electricity and are on track to account for 3% by 2030. Centrus’ shares have outpaced competitors in the uranium enrichment space, positioning the company as a clear beneficiary of accelerating demand for low-carbon baseload power.

Centrus’ Oak Ridge, Tennessee facility employs the AC100 centrifuge system, identified by the Department of Energy in 2015 as the most advanced, lowest-risk enrichment technology available. After a decade of scale-up, the plant now boasts annual production capacity of over 5 million SWU (separative work units), enough to supply roughly 10% of current U.S. utility requirements. The company expects to expand capacity by an additional 50% by 2030 under its existing DOE cost-share agreements, reducing reliance on foreign suppliers and closing a gap that Russian uranium once filled for 24% of American enrichment needs.

In Q3 2025, Centrus posted $74.9 million in revenue, up 30% year-over-year, and for the first nine months of 2025, revenue reached $302.5 million, a 4.1% increase over the comparable period in 2024. Operating income soared from $2.9 million to $37.4 million over the same nine-month span, a gain of 1,189.6%. Cash reserves more than doubled to $1.63 billion as of September 30, enabling the company to fully retire its $1.21 billion in debt and retain $400 million in liquidity. Management projects a 20% compound annual revenue growth trajectory over the next three years and forecasts nuclear generation capacity in the U.S. will triple by 2050, underpinning further demand for LEU’s fuel services.