Centrus Energy (LEU) investor relations material

Executive summary

• Q2 2026 revenue rose 14% year-over-year to $176.1 million, driven by strong demand in commercial LEU, national security, and HALEU markets, and supported by higher uranium sales despite a decline in SWU volumes.

• Net income for Q2 was $16.8 million, down 42% from the prior year due to increased advanced technology and administrative costs, including a $17.2 million non-cash stock compensation charge; adjusted net income rose to $38.7 million.

• Backlog expanded to $4.5 billion, with $3.7 billion in LEU and $0.8 billion in Technical Solutions, extending through 2040.

• Secured a $900 million DOE enrichment award and signed major commercial HALEU supply agreements, unlocking non-dilutive funding and de-risking expansion.

• Operational progress included expansion projects in Piketon, OH, and Oak Ridge, TN, with accelerated hiring and selection of Geiger Brothers as construction contractor.

Financial highlights

• Q2 2026 revenue was $176.1 million; trailing 12-month revenue reached $473.9 million.

• Gross profit for Q2 was $49.9 million, down 7% year-over-year; operating income was $10.4 million; net income $16.8 million; diluted EPS $0.77; adjusted net income $38.7 million; adjusted diluted EPS $1.77.

• LEU segment revenue grew 22% year-over-year to $153.4 million; Technical Solutions revenue declined 21% to $22.7 million.

• Q2 capital spend totaled $82.2 million, with $71.6 million CapEx and $10.6 million non-CapEx.

• Ended Q2 with $1.9 billion in unrestricted cash.

Outlook and guidance

• Reaffirmed 2026 annual revenue guidance of $450–$500 million and capital spend of $350–$500 million.

• Raised 2026 Piketon workforce addition guidance from 100+ to 175+ net new employees and at least 100+ in Oak Ridge, TN.

• First centrifuge at Oak Ridge facility expected to be completed by year-end 2026.

• Anticipates first new enrichment capacity online by 2029, with efforts to potentially accelerate timelines.

• Guidance assumes no major disruptions in Russian LEU supply or significant economic downturns.