CENTRUS ENERGY CORP
For the period ended Sep 30, 2024. Filed Oct 29, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 29, 2024
LEU$104.60+17.5%Stored close · as of Nov 6, 2026
Contents
Consolidated Balance Sheets at September 30, 2024 and December 31, 2023
CONSOLIDATED BALANCE SHEETS
(Unaudited; in millions, except share and per share data)
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $194.3 | $201.2 |
| Accounts receivable | 19.1 | 49.4 |
| Inventories | 190.7 | 306.4 |
| Deferred costs associated with deferred revenue | 74.9 | 117.6 |
| Other current assets | 37.9 | 10.8 |
| Total current assets | 516.9 | 685.4 |
| Property, plant and equipment, net of accumulated depreciation of $4.9 million and $4.3 million as of September 30, 2024 and December 31, 2023, respectively | 8.9 | 7.0 |
| Deposits for financial assurance | 2.6 | 32.4 |
| Intangible assets, net | 32.2 | 39.4 |
| Deferred tax assets | 23.0 | 28.5 |
| Other long-term assets | 7.4 | 3.5 |
| Total assets | $591.0 | $796.2 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $32.8 | $41.9 |
| Payables under inventory purchase agreements | — | 41.9 |
| Inventories owed to customers and suppliers | 0.8 | 84.3 |
| Deferred revenue and advances from customers | 222.6 | 282.6 |
| Short-term inventory loans | 54.6 | 14.3 |
| Current debt | 6.1 | 6.1 |
| Total current liabilities | 316.9 | 471.1 |
| Long-term debt | 83.5 | 89.6 |
| Postretirement health and life benefit obligations | 75.7 | 81.2 |
| Pension benefit liabilities | 4.6 | 17.3 |
| Advances from customers | — | 32.8 |
| Long-term inventory loans | 26.5 | 63.1 |
| Other long-term liabilities | 7.4 | 8.8 |
| Total liabilities | 514.6 | 763.9 |
| Commitments and contingencies (Note 12) | ||
| Stockholders’ equity: | ||
| Preferred stock, par value $1.00 per share, 20,000,000 shares authorized | ||
| Series A Participating Cumulative Preferred Stock, none issued | — | — |
| Series B Senior Preferred Stock, none issued | — | — |
| Class A Common Stock, par value $0.10 per share, 70,000,000 shares authorized, 15,677,224 and 14,956,434 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 1.6 | 1.5 |
| Class B Common Stock, par value $0.10 per share, 30,000,000 shares authorized, 719,200 shares issued and outstanding as of September 30, 2024 and December 31, 2023 | 0.1 | 0.1 |
| Excess of capital over par value | 205.2 | 180.5 |
| Accumulated deficit | (130.0) | (149.5) |
| Accumulated other comprehensive loss | (0.5) | (0.3) |
| Total stockholders’ equity | 76.4 | 32.3 |
| Total liabilities and stockholders’ equity | $591.0 | $796.2 |
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Unaudited; in millions, except share and per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue: | ||||
| Separative work units | $34.8 | $40.5 | $198.1 | $147.4 |
| Uranium | — | — | 29.9 | 39.5 |
| Technical solutions | 22.9 | 10.8 | 62.4 | 29.7 |
| Total revenue | 57.7 | 51.3 | 290.4 | 216.6 |
| Cost of Sales: | ||||
| Separative work units and uranium | 29.6 | 30.4 | 189.3 | 126.1 |
| Technical solutions | 19.2 | 9.6 | 51.4 | 28.2 |
| Total cost of sales | 48.8 | 40.0 | 240.7 | 154.3 |
| Gross profit | 8.9 | 11.3 | 49.7 | 62.3 |
| Advanced technology costs | 4.1 | 3.3 | 13.9 | 10.8 |
| Selling, general and administrative | 10.0 | 9.5 | 25.7 | 27.5 |
| Amortization of intangible assets | 2.4 | 1.4 | 7.2 | 4.2 |
| Operating income (loss) | (7.6) | (2.9) | 2.9 | 19.8 |
| Nonoperating components of net periodic benefit loss (income) | 0.8 | (0.6) | (15.4) | 0.1 |
| Interest expense | 0.1 | 0.4 | 0.8 | 0.9 |
| Investment income | (2.6) | (2.3) | (7.8) | (6.4) |
| Other expense (income), net | — | (1.0) | 0.1 | (1.0) |
| Income (loss) before income taxes | (5.9) | 0.6 | 25.2 | 26.2 |
| Income tax expense (benefit) | (0.9) | (7.6) | 5.7 | (1.9) |
| Net income (loss) and comprehensive income (loss) | $(5.0) | $8.2 | $19.5 | $28.1 |
| Net income (loss) per share: | ||||
| Basic | $(0.30) | $0.53 | $1.21 | $1.86 |
| Diluted | $(0.30) | $0.52 | $1.20 | $1.82 |
| Average number of common shares outstanding (in thousands): | ||||
| Basic | 16,422 | 15,374 | 16,172 | 15,127 |
| Diluted | 16,422 | 15,626 | 16,236 | 15,415 |
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