Quarterly ResultMay 5, 2026, 04:47 PM
Centrus Q1 Revenue $76.7M; Raises 2026 Guidance; Expands Manufacturing
AI Summary
Centrus Energy Corp. reported Q1 2026 revenue of $76.7 million, a 5% increase year-over-year, while GAAP net income decreased to $10.0 million due to increased advanced technology costs and a prior-year debt extinguishment gain. The company raised its full-year 2026 revenue guidance to $450 million-$500 million, reflecting strong commercial progress and strategic initiatives. Centrus also announced significant operational advancements, including a multi-year investment to expand centrifuge manufacturing, new partnerships with Fluor and Palantir, and identified cost savings of approximately $300 million.
Key Highlights
- Q1 2026 revenue increased 5% to $76.7 million from $73.1 million in Q1 2025.
- GAAP net income decreased 63% to $10.0 million ($0.51 EPS) from $27.2 million ($1.60 EPS) in Q1 2025.
- Non-GAAP adjusted net income was $23.5 million ($1.19 adjusted EPS) compared to $28.6 million in Q1 2025.
- Raised full-year 2026 revenue guidance to $450 million-$500 million from $425 million-$475 million.
- Launched multi-year investment in Oak Ridge, Tennessee, to expand centrifuge manufacturing.
- Signed strategic collaborations with Fluor and Palantir, identifying ~$300 million in potential cost savings.
- Total backlog reached $3.9 billion as of March 31, 2026, extending to 2040.
- Increased 2026 capital deployment guidance to $350 million-$500 million and new hires for Piketon to 100+.