Centrus Energy(LEU): Future Prospects and Stock Price Outlook

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Introduction.

Centrus Energy (LEU) is a U.S.-based company engaged in the supply of uranium fuel for nuclear power generation.

especiallyNext Generation Small Module Reactor (SMR)It has attracted attention for its production of Highly Enriched Low Enriched Uranium (HALEU) for the U.S. Department of Energy (DOE) and is also expected to play a role as part of the national energy strategy.

The reason this company is being talked about is because of its position in a small, niche field, but one that is expected to grow significantly in the future due to the proliferation of SMR technology and geopolitical factors.

This article takes an in-depth look at Centrus Energy's (LEU) business, its business model, growth potential in the markets it serves, competitive advantages, stock price trends, and even its future prospects.

If you are interested in U.S. nuclear-related stocks, please read this article to the end.

What is Centrus Energy (LEU) and what does it do?

Centrus Energy (LEU) is an American nuclear fuel supply company that produces and supplies enriched uranium, particularly for commercial reactors and next-generation small modular reactors (SMRs).The main axis of the project will be the

Its predecessor was United States Enrichment Corporation (USEC), which was established in the 1990s as a privatization project of the U.S. Department of Energy (DOE), and later became independent and listed as Centrus Energy.

The company's corporate mission is,Provide safe and reliable nuclear fuel for U.S. and international energy needsand is strengthening its role, especially in coordination with U.S. energy security policy.
Major customers are electric utilities operating commercial nuclear power plants, government agencies, and developers of next-generation nuclear reactors.

It is worth noting that Centrus Energy is currently the U.S.The only company with the capacity to privately produce HALEU (highly assayed low-enriched uranium)The point is that the

HALEU is a fuel with a higher concentration than conventional LEU (low-enriched uranium) and is considered essential for the operation of small and advanced nuclear reactors, and is considered a key technology for the future nuclear industry.

In addition, Centrus is moving forward with a pilot production project for HALEU through a partnership with DOE, among others,It also serves as part of a national energy strategyThis goes beyond mere business as a private enterprise and has policy and security implications.

Company information for Centrus Energy (LEU) is below.

• Company Name:：Centrus Energy Corp.
• Year Established: 1992 (as the predecessor USEC) / to the current company name in 2014
• Head Office LocationBethesda, Maryland
• representative: Daniel B. Poneman, former U.S. Deputy Secretary of Energy
• Official Site:https://www.centrusenergy.com
• Main BusinessesEnrichment and supply of LEU and HALEU, provision of nuclear fuel technology, and engineering support for government agencies
  

What are the main services offered by Centrus Energy (LEU)?

Centrus Energy's (LEU) core services include
The company has advanced expertise and a national role in nuclear power, particularly in the area of fuel supply.

Low Enriched Uranium (LEU) Supply

Fuel supply for commercial nuclear reactors

Centrus supplies low-enriched uranium (LEU) used as fuel to commercial nuclear power plants in the United States and abroad.

• Supply in the form of uranium hexafluoride (UF₆)
• Concentration: Adjusted in the range of 3-51 TP3T
• Transactions with power companies worldwide on a long-term contract basis
• Also offers contract uranium enrichment services

Production of highly assayed low-enriched uranium (HALEU)

Next-generation fuels for small modular reactors (SMRs) and advanced reactors

Centrus Energy is the only one in the United States,Private companies capable of producing HALEU (High-Assay Low-Enriched Uranium) at pilot and commercial levelsThe first is.

• Enrichment: contains uranium-235 up to 20%
• Essential fuel specifications for next-generation reactors
• Participation in HALEU Demonstration Program with DOE
• Infrastructure is being built with an eye toward future large-scale mass production systems.

Technical Solutions and Engineering Support

Nuclear-related technical services for government agencies, research institutes, and private companies

Not only in the mere supply of uranium, but also in the entire nuclear fuel cycle.Providing technical assistance and solutionsis another important business of Centrus.

• Support for design, construction, and operation of uranium enrichment facilities
• Provide technology to DOE and defense-related agencies
• Contracted services such as facility safety improvement, fuel development for testing, etc.
• Environmental services including support for treatment of decommissioned furnaces

These core products and services go beyond being just an energy company,We have advantages in areas closely related to the next generation of nuclear technology and national security.The points are special.

What is HALEU (Highly Assayed Low Enriched Uranium) and how does it differ from LEU in a simple way?

HALEU (High-Assay Low-Enriched Uranium) refers to uranium 235 with an enrichment of more than 5% to less than 20%.refers to the nuclear fuel of the

This is characterized by its higher energy density and superior reactivity compared to LEU (low-enriched uranium: enrichment of 5% or less) used in conventional nuclear power plants.

Brief comparison of differences between LEU and HALEU

Why is HALEU important?

• Essential for next generation reactors (SMRs and fast reactors)These are designed for high efficiency, miniaturization, and modularization,Prerequisite for operation with more enriched fuelThe following is a list of the most common problems with the "C" in the "C" column.
• Fewer fuel changesBy high enrichmentOperates without fuel changes for extended periods of timeThis can significantly reduce maintenance costs and radioactive waste.
• Improved efficiency of uranium resource useThe energy obtained from the same amount of uranium is greater, and more sustainable use of nuclear energy is possible.
• U.S. and Europe are moving away from Russian fuels.In the meantime, how do you establish a system that can manufacture and supply HALEU domestically?National PrioritiesThe company is in the process of becoming a

Why HALEU now?

Russia is currently responsible for the majority of uranium enrichment in the world,HALEU also substantially dependent on Russiais continuing.
The U.S. and Western countries to break this dependence,Urgent need to build domestic supply networkand companies like Centrus Energy (LEU) are also supported by policy.

HALEU offers significant advantages over conventional LEUs in terms of energy efficiency and future-proofing,New Fuels Key to Next-Generation Nuclear PowerThe first two are the following.
With few supply-ready companies in existence, Centrus Energy has become an important global pioneer in this field.

What is the business model of Centrus Energy (LEU)?

The business model of Centrus Energy (LEU) is primarilySupply enriched uranium, develop and provide HALEU, the next generation fuel, and provide technical services to government agencies.The three pillars of the system are
Each business has a different customer base and contract type, diversifying the company's revenue base.

Revenue from LEU supply

Centrus is used for commercial nuclear reactorsSupply low-enriched uranium (LEU) under long-term contractsThe company has been making a stable profit from this business.

• Major customers are nuclear power operators in North America, Europe, and Asia
• Many are multi-year contracts with prices pre-determined.
• The contract incorporates a fuel delivery schedule, making cash flow more predictable
• Some sales in the spot market, but as a small percentage of overall revenue

Revenue from HALEU production

HALEU (highly assayed low-enriched uranium) has not yet reached the stage of full-scale commercial production at this time, though,Revenues from the demonstration phase through a contract with the U.S. Department of Energy (DOE).The following is a list of the most common problems with the "C" in the "C" column.

• Received tens of millions of dollars in DOE funding for the HALEU Demonstration Program
• If supply contracts with SMR and advanced furnace developers go into full swing in the future, it will be a new growth engine.
• Initial contracts with the private sector are underway, and a transition from government initiative to private sector initiative is expected.

Technology Solutions Business

The company is for DOE and the Department of Defense,Providing technical services such as nuclear fuel technology, facility operation support, and test and developmentThis is another solid source of revenue.

• Engineering design, environmental safety assessments, fuel development projects, etc.
• Transaction type is project-based or annual contract
• Credit risk is very low as most of our clients are the federal government and its related agencies.

Centrus Energy's business model is based on traditional nuclear demand-based stable revenue (LEU)and innovative energy solutions.By combining growth earnings (HALEU, technical assistance), the structure is able to respond to changing market conditions.
Also, as a peculiarity of the company,Highly linked to national projectsThis also serves as a differentiating factor from the competition.

What is Centrus Energy's relationship with the government and what are its grant and contract performance?

Centrus Energy (LEU) is,Extremely strong relationship with the U.S. Department of Energy (DOE)and has become a core part of the national strategy in terms of nuclear fuel supply.
Especially with regard to HALEU (highly assayed low-enriched uranium), the companyThe only private commercial supplier selected by the U.S. governmentand has received multiple government contracts and financial support.

Major contracts and projects with DOE

HALEU Demonstration Program

• Centrus signed a contract with DOE to install and operate a HALEU demonstration production facility in Pickerington, Ohio.
• This program includes a DOE toOver $115 million in grants have been invested.Centrus has developed a phased production system accordingly.
• By the end of 2023,First private company to successfully manufacture commercial-level HALEUand justification for additional support from DOE.

Next Procurement Project (Commercial HALEU Procurement)

• DOE aims to establish a commercial-scale HALEU supply structure by 2030, with a multi-year period beginning in 2024.Long-term supply contracts to be awarded to companies including CentrusThe following is a list of the most common problems with the "C" in the "C" column.
• Centrus isThe only candidate with an initial production recordThe company is almost certain to win major contracts in the future as

Policy preferences and positioning

• Centrus is also legally defined by the U.S. Congress as "part of the critical minerals and strategic fuel supply chain" and is eligible for subsidies, tax credits, and preferred procurement.
• Centrus is one of the few private companies mentioned by name in the "Policy for Promoting U.S.-Made HALEU" announced under the Biden administration.
• In addition to federal agencies such as the U.S. Department of Energy (DOE) and the National Nuclear Security Administration (NNSA), there is also policy support from some state governments.

Significance and Potential

• The establishment of the HALEU supply system that Centrus is promoting is more than just a corporate activity,National energy security goals, including moving away from dependence on RussiaIt is directly connected to the
• In collaboration with the government,Pipeline development ahead of the private market and advantage in securing long-term contractsThe company enjoys an overwhelming advantage over its competitors, and is at an advantageous starting point compared to its competitors.

Thus, Centrus Energy isNational policy issues strongly linked to government intentionsand is positioned as a core company for public-private projects that are expected to remain stable and expand in the future.

What is the trading market?

Centrus Energy (LEU) is,Listed on NYSE Americanand the ticker symbol is "LEU".

NYSE American is known as a listing destination for small and mid-cap growth stocks, a market that belongs to many companies operating in innovative technologies and specialized niche markets.
Like LEU.A suitable exchange for companies that are developing businesses linked to next-generation energy and national policies to raise funds and expand their contacts with investors.It can be said that

What are the sectors, industries, and themes to which Centrus Energy (LEU) belongs?

Based on its business and market positioning, Centrus Energy (LEU) can be categorized into the following sectors, industries, and investment themes.

Sector: Energy

Centrus Energy is a provider of nuclear fuel,Belongs to the energy sector in the broadest sense of the wordNuclear power is an important source of primary energy. Along with oil and natural gas, nuclear power is an important primary energy source that is being reevaluated as part of the clean energy transition, especially in the United States and Europe.

• Part of the core energy sector that supports the electric power infrastructure
• Provides fuel for stable power sources that are less susceptible to weather and supply disruptions

Industry: Nuclear fuel supply and enrichment services

LEU belongs to an extremely specialized sector of the energy sector: the production and supply of nuclear fuel.

• Processing and supply of LEU (low-enriched uranium) and HALEU (high-assay low-enriched uranium)
• Part of the nuclear fuel cycle, including design and technical support for uranium fuel
• Including strategic work through contracts with state agencies

Themes: Clean Energy / Next Generation Nuclear Reactors / Energy Security

Centrus Energy's attractiveness as an investment target lies in its affinity for growth themes.

• clean energyUranium suppliers are also attracting attention as ESG investment targets.
• Next Generation Reactor (SMR)HALEU's supply capacity, which is essential for small modular furnaces, has the potential for future market exclusivity
• energy securityHALEU: In the context of the geopolitical challenge of moving away from dependence on Russia, the ability to supply HALEU in the U.S. is strategically important.

Thus, Centrus Energy's overlap with multiple growth themes makes it an attractive investment target.
especiallyHigh affinity with themes with a long-term perspective, such as SMR and energy securityThe point is characterized by the following features.

Dividends?

Centrus Energy (LEU) is not currently paying a dividend.

The reason for this is clear: the company isGrowth strategy is a top priority, with the majority of revenues being reinvested.In particular, the company has continued to make large-scale investments in facilities and research and development spending. In particular, large-scale capital investment and R&D expenditures continue, including the establishment of a commercial production system for HALEU (highly assayed low-enriched uranium), which is the key to the future nuclear energy market, and participation in a national project with the DOE (US Department of Energy).

Who are the competitors of Centrus Energy (LEU)?

The nuclear fuel market, of which Centrus Energy (LEU) is a part, is extremely specialized and has very high barriers to entry,The number of competitors is limited.The following is a list of the most common problems with the "C" in the "C" column.
However, there is a certain amount of competition in each process, such as uranium supply, enrichment, and fuel fabrication.

Major Competitors

• Cameco (CCJ)Centrus is one of the world's largest uranium mining companies, based in Canada. Unlike Centrus, its main business is mining, but it is an indirect competitor in the uranium supply chain.
• ORANO (undisclosed)A French state-owned company. One of the largest nuclear companies in Europe with vertically integrated operations from uranium enrichment to fuel fabrication. It has expressed interest in supplying HALEU on the civilian market.
• Tenex (not disclosed)LEU: Russia's state-owned uranium enrichment company. Currently has a large share of the global market, but as Western countries are becoming less dependent on it due to geopolitical risks, this is a major challenge for LEU.De facto structural rivalsThe following is a list of the most common problems with the "C" in the "C" column.
• Global Laser Enrichment (private)The company is developing a next-generation uranium enrichment technology using lasers. Although it has not yet reached the commercial stage, it is a noteworthy entity in the context of technological competition.
• Westinghouse (not disclosed): The company is known for manufacturing nuclear reactors, but is also involved in some fuel supply, and is expected to become involved in the HALEU market in the future.

Centrus Energy Position

at the present timeCentrus is the only private company in the U.S. with the ability to supply HALEUand is also playing a lead role in the demonstration project with DOE. Therefore, even though quantitative competition exists,Qualitatively leading positionin the

However, as the SMR market expands in the future, technological innovation and policy support will continue to be important for the company to maintain its advantage, given the prospect of international competition and the emergence of companies with alternative fuel technologies.

What is the size and growth potential of the industry to which Centrus Energy (LEU) belongs?

The nuclear fuel supply industry, of which Centrus Energy (LEU) is a part, is in addition to the traditional demand for nuclear power generation,New fuel demand for next-generation reactors (SMRs)The company is expected to grow significantly in the future due to the

Size and growth potential of the nuclear fuel market

• The global nuclear fuel market is,Approximately $50 billion scale as of 2023and is estimated to be mainly supplied by LEUs.
• The market is conservative but stable, due to replacement of aging furnaces, new construction, and life time extension,Average annual growth rate (CAGR) is about 2-31 TP3TIt is considered to be a
• In particular, new nuclear reactors continue to be built in Asia (China and India), causing a regional expansion in fuel demand.

Growth potential of the HALEU and SMR markets

• Highly Enriched Low Enriched Uranium (HALEU) cannot be handled by conventional LEUFuel dedicated to next-generation reactors (SMRs and advanced reactors)It is in the limelight as a
• The U.S. Department of Energy (DOE) estimates that,HALEU demand of more than 40 tons per year by 2030will be created, and the supply system as of 2024 is overwhelmingly inadequate.
• SMR market itself,Potential market of over $100 billion by 2035, with hundreds of units expected to be installed in the mid-2030sSome estimates suggest that this will be the case.

growth driver

• Accelerate decarbonization policiesReevaluation of nuclear power as a key power source that does not emit CO₂.
• energy securityUranium enrichment: Urgent need to break away from dependence on Russia (especially uranium enrichment)
• Progress of technological innovationSMRs: Accelerating Diffusion through Miniaturization and Safety Improvement of SMRs
• policy support: Expansion of subsidies and tax incentives by the U.S. and the EU

Although the HALEU market in particular is still in its infancy,Centrus Energy is in the closest position to commercialization of these products and is likely to be a key player in the future growth of the industry.

What are the differentiating factors and advantages of Centrus Energy (LEU) over its competitors?

Centrus Energy (LEU) has limited competitors in the nuclear fuel market,Distinctive differentiators in terms of technology, customer base, and policy coordinationThe main advantages are categorized and explained below.

Technological differentiation: HALEU's commercial production system

• Centrus isThe only company with a private HALEU supply chain in the U.S.The first is.
• Already established commercial production capacity for HALEU at the demonstration facility in Piketon, Ohio, in coordination with the DOE.
• In that we already have a physical manufacturing infrastructure in operation while other companies are still in the research and development phase.Ahead of the curve in speed and reliability of technology implementationThe following is a list of the most common problems with the "C" in the "C" column.

Differentiation between customers and contract performance

• For LEU supply for commercial reactors,Multi-year contracts with major power companies in North America, Europe and AsiaThe company has already entered into a
• For government agencies, the company provides engineering support and fuel supply to agencies such as the DOE, Department of Defense (DOD), and National Nuclear Security Administration (NNSA).
• Rarely does a company have a proven track record as a trusted supplier to both the private and government sectors, and LEU is one of the few that does.The first is.

Policy Collaboration and National Policy Advantages

• Centrus is moving forward with its operations with funding, technical assistance, and policy support from the DOE,Position in charge of HALEU infrastructure development as part of a national projectin the
• In the U.S. policy to break away from dependence on Russian company Tenex,Centrus plays an essential strategic role and is expected to continue to grow steadily in partnership with the governmentThe following is a list of the most common problems with the "C" in the "C" column.

Expertise and uniqueness of products and services

• While other major competitors focus on uranium mining and reactor construction, CentrusFocus on fuel supply and state-of-the-art fuel specifications (HALEU)The company is doing so.
• The company is not just a "uranium supplier" in that it has a comprehensive system that can provide technical support, test and development, and facility operation,High value-added company supporting the entire nuclear fuel ecosystemThe first is.

With these factors, Centrus Energy is now,Almost monopolistic position in the formation of the private HALEU marketThe company is located in the U.S. and is likely to build a sustainable competitive advantage as the market expands in the future.

Centrus Energy (LEU) Financial Results

Centrus Energy's (LEU) fiscal year ends at the end of December.
In other words, each fiscal year is from January 1 to December 31.

• Q1 (Q1): Early to mid-April
• Q2 (Q2): Early August
• Q3 (Q3): Early to mid-November
• Q4 and full year results: Early to mid March of the following year

Performance disclosures are generallyMid to late of the following quarterThe process is carried out in the following manner

Centrus Energy (LEU) Stock Price

View the current real-time stock price chart (TradingView) for Centrus Energy (LEU).

The chart shows the Relative Strength Index (RSI). Reference as an indicator of market overheating.
*An overbought indicator when the RSI exceeds 70% to 80%, and conversely, an oversold indicator when the RSI falls below 20% to 30%.

What is the future outlook for Centrus Energy (LEU) and its stock price?

The future of Centrus Energy (LEU) is in addition to its unique position in the current nuclear fuel market,National Strategies, Energy Transformation, and Technological InnovationIt is rated extremely high in that it is strongly linked to three major trends: the

Future Outlook: Riding the Wave of Energy Policy and SMR Penetration

• The U.S. government is pursuing a policy of gradually reducing its dependence on Russian uranium from the perspective of energy security,The fact that LEU has been selected as the core of the domestic HALEU supply is itself an endorsement of its future potential.The first is.
• Next-generation reactors (SMRs) are expected to be fully introduced into the market in the next 10 to 20 years, and the following are essential for these reactors.The company was the first to establish a private supply system for HALEU fuel, and will likely capture a nearly exclusive initial market.
• Plans are underway to introduce SMR in Europe and Asia, and international expansion is also in the future.

Performance: Changes in revenue structure accelerate growth phase

• The LEU (low-enriched uranium) supply, which has been the mainstay of the company's operations, has been a relatively stable source of revenue but with limited growth potential,Shift to high-growth areas in the future as HALEU-related contracts come into full swingThe following is a list of the most common problems with the "C" in the "C" column.
• The grant income from DOE and revenue from prototype manufacturing,Business transformation is beginning to be reflected in financial results for 2024 and beyond, and is being realized, albeit in the early stages.The following is a list of the most common problems with the "C" in the "C" column.

Contracts/Pipeline: Stable set of policy-driven deals

• Multiple contracts with the U.S. Department of Energy (DOE) have already been signed for several thousand to tens of millions of dollars. Additional contracts and orders in the mass production stage are expected in the future.
• Discussions with private SMR developers (e.g., TerraPower, X-energy, etc.) for joint studies and supply are reportedly underway,There is a system in place for future projects to flow in from both policy and the private market.
• Another strength of the company is that it has plans to gradually increase its manufacturing capacity, ensuring scalability in response to growing demand.

Taken together, these factors could make Centrus Energy a key player in the market over the long term as "one of the few companies that hold the key to U.S. energy security."

Despite the short-term volatility of the stock price, the combination of growth and policy linkages makes it a unique investment destination.

Centrus Energy (LEU) Q1 2025 Financial Summary

Announcement date: 25/05/08 

Sales and Revenues

• Quarterly Sales: 73.1 million dollars (+671 TP3T over the previous year)
  • LEU (low-enriched uranium) sector: $51.3 million (+1171 TP3T)
  • Technology Solutions Division: $21.8M (+8%)
• GAAP Net Income: 27.2 million dollars (previous year: -6.1 million dollars)
• GAAP EPS (net income per share): 1.60$ (previous year: -$0.38$)
• Gross profit: 32.9 million dollars (previous year: $4.3 million dollars)

Operating Expenses and Profits

• Operating Income: 20.5 million dollars (previous year: -10.6 million dollars)
• Cost movement:
  • Cost of sales in the LEU division decreased to $20.1 million (previous year: $23.1 million)
  • Technology Solutions costs increased to $20.1 million (previous year: $16.3 million) (due to higher HALEU contract costs)
• Gain from debt amortization: 11.8 million (due to redemption of 8.251 TP3T bonds)

Contracts and Orders (Bookings)

• Order backlog: 3.8 billion dollars (through 2040)
  • LEU sector: $2.8 billion ($1.7 billion of which is a firm contract and $400 million is pending agreement)
  • Technology solutions sector: approximately $900 million
• New Contract Highlights:
  • Awarded multiple HALEU/LEU production and conversion contracts from DOE (backed by government funds totaling $3.4 billion)

Cash and Financial Position

• Cash and cash equivalents (March 31): 653 million dollars
• Free Cash Flow: 36.5 million dollars (previous year: 5.3 million dollars)
• Bond redemption: Completed redemption of 8.251 TP3T bonds ($74.3 million) and achieved reduction of high interest rate debt
• Fundraising through equity issuance: 25.2 million U.S. dollars

Technology and Business Highlights

• HALEU (highly enriched low-enriched uranium) production:
  • Continued production of HALEU for DOE at the Piketon plant, with a cumulative total of 670 kg already delivered
  • Contract term extended to the end of June 2025 due to delays in providing equipment and facilities.
• The only civilian uranium enrichment technology in the United States:
  • Emphasized its national security position as the only company with a complete domestic technology and supply network
• Policy Support:
  • Expect a total budget line of $3.4 billion, including $700 million under the IRA (Inflation Control Act)

2025 Guidance (Future Outlook)

• Review of Government Funds (EO 14154): IRA-related fund disbursements are on pause. Review results may affect future fund inflows and contract progress.
• Room for production expansion: Seek to expand LEU/HALEU into full-scale commercial production, depending on government task orders and private funding

Centrus Energy has achieved significant sales and profit growth by leveraging its position as the only company with domestically produced enrichment technology in the midst of the U.S. government's trend to strengthen energy security.
With debt reduction and a strong cash position, the company is well prepared for future large-scale production expansion.
Although trends in policy funding will be key, the company is expected to play a central role in the supply of nuclear fuel in the U.S. in the long term.

What brokerage firms can I buy shares of Centrus Energy (LEU)?

The following is a list of major brokerages that offer shares of Centrus Energy (LEU). At these brokerages, you can choose to invest as a CFD (Contract for Difference) as well as directly as a foreign stock.

I myself mainly use SBI Securities, but some stocks they handle may not be available for purchase. In such cases, I sometimes use CFDs at Saxo Bank Securities or IG Securities.

summary

We have looked extensively at Centrus Energy's (LEU) business, business model, competitive landscape, growth markets, stock price characteristics, and prospects.
In particular, as the demand for HALEU expands dramatically with the rise of the SMR market, Centrus will play an increasingly important role in the future.

At present, it is a small company, but it is a rare growth stock that combines a high degree of linkage with national policies and leading technological advantages, making it an attractive investment target from a medium- to long-term perspective.

Personally, I would like to keep an eye on Centrus Energy among nuclear-related stocks, especially as it combines both the "growth x policy" axis.
As nuclear energy is being reevaluated, LEU may be at the center of this reevaluation.