- Net loss of $6.1 million on
$43.7 million in revenue, compared to
net income of $7.2 million on
$66.9 million in revenue in Q1
2023
- Consolidated cash balance of $209.3
million as of March 31,
2024
- Continued enrichment operations in Piketon, Ohio, with total production of
approximately 135 kilograms of High Assay Low-Enriched Uranium
("HALEU")
- Signed approximately $900 million
in contingent sales commitments for Low-Enriched Uranium
("LEU")
BETHESDA, Md., May 7, 2024
/PRNewswire/ -- Centrus Energy Corp. (NYSE American: LEU)
("Centrus" or the "Company") today reported first quarter 2024
results. The Company reported a net loss of $6.1 million for the three months ended
March 31, 2024, which is $0.38 (basic and diluted) per common share.
"Centrus had a strong start to the year, making additional HALEU
deliveries to the Department of Energy ("Department" or "DOE") and
submitting bids on two Requests for Proposals from the Department
aimed at expanding its HALEU production capacity. In addition, the
Company signed approximately $900
million in contingent LEU sales commitments to support the
potential construction of LEU production capacity alongside our
HALEU production," said Centrus President and CEO, Amir Vexler. "Recent funding legislation enacted
with wide, bipartisan support includes a $2.7 billion federal investment in domestic
enrichment. With the support of a strong, public-private
partnership, we look forward to scaling up production to meet the
full range of commercial and national security requirements for
enriched uranium, including HALEU for advanced reactors and LEU for
the existing reactor fleet. While our first quarter results reflect
the expected quarter-to-quarter fluctuations in our revenues and
margins – largely resulting from the timing of customer deliveries
– we are encouraged by the progress we are making to reclaim
American leadership in uranium enrichment."
Financial Results
Centrus generated total revenue of $43.7
million and $66.9 million for
the three months ended March 31, 2024
and 2023, respectively, a decrease of $23.2
million.
Revenue from the LEU segment was $23.6
million and $58.8 million for
the three months ended March 31, 2024
and 2023, respectively, a decrease of $35.2
million. SWU revenue decreased by $35.2 million as a result of a decrease in the
volume of SWU sold and a decrease in the average price of SWU
sold.
Revenue from the Technical Solutions segment was $20.1 million and $8.1
million for the three months ended March 31, 2024 and 2023, respectively, an
increase of $12.0 million. Revenue
generated by the HALEU Operation Contract increased $12.0 million due to the transition from Phase 1
to Phase 2 in late 2023.
Cost of sales for the LEU segment was $23.1 million and $34.9
million for the three months ended March 31, 2024 and 2023, respectively, a decrease
of $11.8 million. SWU costs decreased
by $12.3 million as a result of a
decrease in the volume of SWU sold, partially offset by an increase
in the average unit cost of SWU sold. Cost of sales for the three
months ended March 31, 2024 and 2023
included $0.3 million and
$2.1 million, respectively, for the
revaluation of inventory loans.
Cost of sales for the Technical Solutions segment was
$16.3 million and $9.0 million for the three months ended
March 31, 2024 and 2023,
respectively, an increase of $7.3
million. Costs incurred for the HALEU Operation Contract
increased by $7.3 million due to the
transition from Phase 1 to Phase 2 in late 2023.
Gross profit for the Company was $4.3
million and $23.0 million for
the three months ended March 31, 2024
and 2023, respectively. The decrease for the three months ended
March 31, 2024 was primarily
attributed to the decrease in gross profit in the LEU segment, as
previously discussed. LEU customers generally have multi-year
contracts that carry annual purchase commitments, not quarterly
commitments. The gross profit in our LEU business varies based upon
the timing of those contracts. The pricing of those deliveries
varies depending upon the market conditions at the time the
contract was signed with a portion of our outstanding contracts
entered into at historically higher prices. The Company's gross
profit was lower primarily due to the composition of contracts in
the prior year, which included legacy and higher priced contracts.
This was partially offset by an increase in gross profit in the
Technical Solutions segment, primarily related to the transition
from Phase 1 to Phase 2 of the HALEU Operation Contract.
HALEU Update
On October 11, 2023, the Company
announced the beginning of enrichment operations, and on
November 7, 2023, it announced its
first delivery of 20 kilograms of HALEU uranium hexafluoride (UF6),
completing Phase 1 of the HALEU Operation Contract under budget and
ahead of schedule. The DOE is contractually required to provide
storage cylinders necessary to collect the output of the cascade.
Using the storage cylinders currently made available by the DOE,
Centrus has now achieved cumulative deliveries to the DOE of
approximately 135 kilograms of HALEU UF6.
On November 28, 2023 and
January 9, 2024, the DOE issued two
RFPs for the deconversion and enrichment of HALEU, respectively.
The Company submitted bids for both RFPs, with the goal of
expanding HALEU production capability at the Piketon, Ohio facility.
Contingent Sales Commitments
Centrus also announced that it has signed approximately
$900 million in contingent LEU sales
commitments, subject to entering into definitive agreements, in
support of potential construction of LEU production capacity at
Centrus' American Centrifuge Plant in Piketon, Ohio. These commitments, reflecting
deliveries of LEU to customers from 2028 to 2040, are contingent
upon Centrus securing substantial public and private funding and
financing to build the new capacity. Centrus competes against
large, government-owned entities and is the sole publicly traded
enrichment company in the industry. Congress recently included
$2.72 billion for new, domestic
nuclear fuel production as part of a government funding bill signed
into law on March 9, 2024.
Enriched Uranium Ban
On April 30, 2024, the Senate
passed the Prohibiting Russian Uranium Imports Act (H.R.
1042), which bans uranium imports from Russia and becomes effective 90 days after
enactment. The legislation, which was previously passed by the U.S.
House of Representatives, has been presented to the President of
the United States for signature
into law. The legislation includes a provision that allows for the
granting of waivers through 2027, including if the waiver serves
the national interest. When the legislation is enacted, we will
apply for waivers from the Secretary of Energy and other applicable
government agencies to request permission to continue supplying LEU
to our customers. It is uncertain whether any waiver would be
granted and, if granted, whether any waiver would be granted in a
timely manner. The Company anticipates having adequate liquidity to
support its business operations for at least the next 12
months.
About Centrus Energy Corp.
Centrus Energy is a trusted supplier of nuclear fuel components
and services for the nuclear power industry. Centrus provides value
to its utility customers through the reliability and diversity of
its supply sources – helping them meet the growing need for clean,
affordable, carbon-free electricity. Since 1998, the Company has
provided its utility customers with more than 1,750 reactor years
of fuel, which is equivalent to 7 billion tons of coal. With
world-class technical and engineering capabilities, Centrus is also
advancing the next generation of centrifuge technologies so that
America can restore its domestic uranium enrichment capability in
the future. Find out more at centrusenergy.com.
Forward-Looking Statements:
This news release contains "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and the Private Securities Litigation Reform Act of
1995. In this context, forward-looking statements mean statements
related to future events, which may impact our expected future
business and financial performance, and often contain words such as
"expects", "anticipates", "intends", "plans", "believes", "will",
"should", "could", "would" or "may" and other words of similar
meaning. These forward-looking statements are based on information
available to us as of the date of this news release and represent
management's current views and assumptions with respect to future
events and operational, economic and financial performance.
Forward-looking statements are not guarantees of future
performance, events or results and involve known and unknown risks,
uncertainties and other factors, which may be beyond our
control.
For Centrus Energy Corp., particular risks and uncertainties
(hereinafter "risks") that could cause our actual future results to
differ materially from those expressed in our forward-looking
statements include but are not limited to and which are, and may
be, exacerbated by any worsening of the global business and
economic environment include but are not limited to the following:
risks related to the war in Ukraine and geopolitical conflicts and the
imposition of sanctions or other measures by (i) the U.S. or
foreign governments and institutions, (ii) organizations (including
the United Nations or other international organizations), or (iii)
entities (including private entities or persons), that could
directly or indirectly impact our ability to obtain, deliver,
transport or sell low enriched uranium ("LEU") or the Separative
Work Units ("SWU") and natural uranium hexafluoride components of
LEU delivered to us under our existing supply contract with the
Russian government-owned entity, TENEX, Joint-Stock Company
("TENEX") ("TENEX Supply Contract"), or make related payments or
deliveries of natural uranium hexafluoride to TENEX; risks related
to proposed and imminent legislation to ban imports of Russian LEU
into the United States, or
transaction with the Russian State Atomic Energy Corporation
("Rosatom") or its subsidiaries, which includes TENEX, or similar
bills that become law and the potential inability to secure a
waiver or other exception from the ban or sanction in a timely
manner or at all in order to allow us to continue importing Russian
LEU under the TENEX Supply Contract or otherwise doing business
with TENEX or implementing the TENEX Supply Contract; risks related
to the refusal or inability of TENEX to deliver LEU to us if, among
other reasons, (i) U.S. or foreign government sanctions are imposed
on LEU from Russia or on TENEX,
(ii) for any reason, TENEX is unable or unwilling to deliver LEU,
receive payments, receive the return of natural uranium
hexafluoride, or conduct other activities related to the TENEX
Supply Contract, or (iii) TENEX elects, or is directed (including
by its owner or the Russian government ), to limit or stop
transactions with us or with the United
States or other countries; risks related to disputes with
third parties, including contractual counterparties, that could
result if we are unable to receive timely deliveries of LEU under
the TENEX Supply Contract; risks related to whether or when
government funding or demand for high-assay low-enriched uranium
("HALEU") for government or commercial uses will materialize and at
what level; risks regarding funding for continuation and deployment
of the American Centrifuge technology; risks related to (i) our
ability to perform and absorb costs under our agreement with the
U.S. Department of Energy ("DOE") to deploy and operate a cascade
of centrifuges to demonstrate production of HALEU for advanced
reactors (the "HALEU Operation Contract"), (ii) our ability to
obtain new contracts and funding to be able to continue operations
and (iii) our ability to obtain and/or perform under other
agreements; risks that (i) we may not obtain the full benefit of
the HALEU Operation Contract and may not be able or allowed to
operate the HALEU enrichment facility to produce HALEU after the
completion of the HALEU Operation Contract or (ii) the output from
the HALEU enrichment facility may not be available to us as a
future source of supply; risks related to our dependence on others,
such as TENEX, under the TENEX Supply Contract, a subsidiary of
Orano Cycle ("Orano"), under our long-term commercial supply
agreement with Orano and other suppliers (including, but not
limited to, transporters) who provide, or deliver, us the goods and
services we need to conduct our business; risks related to natural
and other disasters, including the continued impact of the
March 2011 earthquake and tsunami in
Japan on the nuclear industry and
on our business, results of operations and prospects; risks related
to financial difficulties experienced by customers or suppliers,
including possible bankruptcies, insolvencies, or any other
situation, event or occurrence that affect the ability of others to
pay for our products or services in a timely manner or at all;
risks related to pandemics, endemics, and other health crises;
risks related to the impact and potential extended duration of a
supply/demand imbalance in the market for LEU; risks related to our
ability to sell or deliver the LEU we procure pursuant to our
purchase obligations under our supply agreements and the impacts of
sanctions or limitations on imports of such LEU, including those
imposed under the 1992 Russian Suspension Agreement as amended,
international trade legislation and other international trade
restrictions; risks related to existing or new trade barriers and
to contract terms that limit our ability to procure LEU for, or
deliver LEU to customers; risks related to pricing trends and
demand in the uranium and enrichment markets and their impact on
our profitability; risks related to the movement and timing of
customer orders; risks related to the fact that we face significant
competition from major LEU producers who may be less cost sensitive
or are wholly or partially government owned; risks that our ability
to compete in foreign markets may be limited for various reasons;
risks related to the fact that our revenue is largely dependent on
our largest customers; risks related to our backlog, including
uncertainty concerning customer actions under current contracts and
in future contracting due to market conditions, global events or
other factors including our lack of current production capability;
risks related to uncertainty regarding our ability to commercially
deploy competitive enrichment technology; risks related to the
potential for demobilization or termination of the HALEU Operation
Contract; risks that we will not be able to timely complete the
work that we are obligated to perform; risks related to the
government's inability to satisfy its obligations, including
supplying government furnished equipment necessary for us to
produce and deliver HALEU under the HALEU Operation Contract and
processing security clearance applications due to a government
shutdown or other reasons; risks related to our ability to obtain
the government's approval to extend the term of, or the scope of
permitted activities under, our lease with the DOE in Piketon, Ohio; risks related to cybersecurity
incidents that may impact our business operations; risks related to
our ability to perform fixed-price and cost-share contracts such as
the HALEU Operation Contract, including the risk that costs that we
must bear could be higher than expected and the risk related to
complying with stringent government contractual requirements; risks
related to a government shutdown or lack of funding that could
result in program cancellations, disruptions and/or stop work
orders and could limit the U.S. government's ability to make timely
payments, and our ability to perform our U.S. government contracts
and successfully compete for our work; risks related to our
significant long-term liabilities, including material unfunded
defined benefit pension plan obligations and postretirement health
and life benefit obligations; risks related to our 8.25% Notes
maturing in February 2027; risks of
revenue and operating results fluctuating significantly from
quarter to quarter, and in some cases, year to year; risks related
to the impact of financial market conditions on our business,
liquidity, prospects, pension assets and insurance facilities;
risks related to the Company's capital concentration; risks related
to the value of our intangible assets related to LEU's backlog and
customer relationships; risks related to the limited trading
markets in our securities; risks related to decisions made by our
Class B Common Stock stockholders regarding their investment in the
Company, including decisions based upon factors that are unrelated
to the Company's performance; risks that a small number of holders
of our Class A Common Stock (whose interests may not be aligned
with other holders of our Class A Common Stock), may exert
significant influence over the direction of the Company and may be
motivated by interests that are not aligned with the Company's
other Class A stockholders; risks related to (i) the use of our net
operating losses ("NOLs") carryforwards and net unrealized built-in
losses ("NUBILs") to offset future taxable income and the use of
the Rights Agreement, dated as of April 6,
2016 to prevent an "ownership change" as defined in Section
382 of the Internal Revenue Code of 1986, as amended (the "Code")
and (ii) our ability to generate taxable income to utilize all or a
portion of the NOLs prior to the expiration thereof and NUBILs;
risks related to failures or security breaches of our information
technology systems; risks related to our ability to attract and
retain key personnel; risks related to actions, including reviews
or audits, that may be taken by the U.S. government, the Russian
government, or other governments that could affect our ability to
perform under our contractual obligations or the ability of our
sources of supply to perform under their contractual obligations to
us; risks related to our ability to perform and receive timely
payment under our agreements with the DOE or other government
agencies, including risks related to the ongoing funding by the
government and potential audits; risks related to changes or
termination of our agreements with the U.S. government or other
counterparties, or the exercise of contract remedies by such
counterparties; risks related to the competitive environment for
our products and services; risks related to changes in the nuclear
energy industry; risks related to the competitive bidding process
associated with obtaining contracts, including government
contracts; risks that we will be unable to obtain new business
opportunities or achieve market acceptance of our products and
services or that products or services provided by others will
render our products or services obsolete or noncompetitive; risks
related to potential strategic transactions that could be difficult
to implement, that could disrupt our business or that could change
our business profile significantly; risks related to the outcome of
legal proceedings and other contingencies (including lawsuits and
government investigations or audits); risks related to the impact
of government regulation and policies including by the DOE and the
U.S. Nuclear Regulatory Commission; risks of accidents during the
transportation, handling, or processing of toxic hazardous or
radioactive material that may pose a health risk to humans or
animals, cause property or environmental damage, or result in
precautionary evacuations, and lead to claims against the Company;
risks associated with claims and litigation arising from past
activities at sites we currently operate or past activities at
sites that we no longer operate, including the Paducah, Kentucky, and Portsmouth, Ohio, gaseous diffusion plants;
and other risks discussed in this news release and in our filings
with the SEC.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which apply only as of the date of this
news release. These factors may not constitute all factors that
could cause actual results to differ from those discussed in any
forward-looking statement. Accordingly, forward-looking statements
should not be relied upon as a predictor of actual results. Readers
are urged to carefully review and consider the various disclosures
made in this news release and in our filings with the SEC,
including our Annual Report on Form 10-K for the year ended
December 31, 2023, under Part II, Item 1A - "Risk Factors" in
our Quarterly Report on Form 10-Q for the quarter ended
March 31, 2024, and in our filings with the SEC that attempt
to advise interested parties of the risks and factors that may
affect our business. We do not undertake to update our
forward-looking statements to reflect events or circumstances that
may arise after the date of this news release, except as required
by law.
Contacts:
Investors: Dan Leistikow at
LeistikowD@centrusenergy.com
Media: Lindsey Geisler at
GeislerLR@centrusenergy.com
CENTRUS ENERGY
CORP.
CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Unaudited; in
millions, except share and per share data)
|
|
|
Three Months
Ended
March
31,
|
|
2024
|
|
2023
|
Revenue:
|
|
|
|
Separative work
units
|
$
23.6
|
|
$
58.8
|
Uranium
|
—
|
|
—
|
Technical
solutions
|
20.1
|
|
8.1
|
Total
revenue
|
43.7
|
|
66.9
|
Cost of
Sales:
|
|
|
|
Separative work units
and uranium
|
23.1
|
|
34.9
|
Technical
solutions
|
16.3
|
|
9.0
|
Total cost of
sales
|
39.4
|
|
43.9
|
Gross profit
|
4.3
|
|
23.0
|
Advanced technology
costs
|
5.7
|
|
3.4
|
Selling, general and
administrative
|
8.1
|
|
10.3
|
Amortization of
intangible assets
|
1.1
|
|
1.1
|
Special charges for
workforce reductions
|
—
|
|
(0.1)
|
Operating income
(loss)
|
(10.6)
|
|
8.3
|
Nonoperating
components of net periodic benefit loss
|
0.1
|
|
0.3
|
Interest
expense
|
0.4
|
|
0.3
|
Investment
income
|
(2.8)
|
|
(1.9)
|
Other expense,
net
|
0.1
|
|
—
|
Income (loss) before
income taxes
|
(8.4)
|
|
9.6
|
Income tax expense
(benefit)
|
(2.3)
|
|
2.4
|
Net income (loss) and
comprehensive income (loss)
|
$
(6.1)
|
|
$
7.2
|
|
|
|
|
Net income (loss) per
share:
|
|
|
|
Basic
|
$
(0.38)
|
|
$
0.49
|
Diluted
|
$
(0.38)
|
|
$
0.47
|
Average number of
common shares outstanding (in thousands):
|
|
|
|
Basic
|
15,906
|
|
14,841
|
Diluted
|
15,906
|
|
15,241
|
CENTRUS ENERGY
CORP.
CONSOLIDATED
STATEMENTS OF CASH FLOWS
(Unaudited; in
millions)
|
|
|
Three Months
Ended
March
31,
|
|
2024
|
|
2023
|
OPERATING
|
|
|
|
Net income
(loss)
|
$
(6.1)
|
|
$
7.2
|
Adjustments to
reconcile net income (loss) to cash used in operating
activities:
|
|
|
|
Depreciation and
amortization
|
1.3
|
|
1.3
|
Accrued loss on
long-term contract
|
—
|
|
(5.6)
|
Deferred tax
assets
|
(2.1)
|
|
2.2
|
Equity related
compensation
|
0.2
|
|
1.2
|
Revaluation of
inventory borrowing
|
0.3
|
|
2.1
|
Other reconciling
adjustments, net
|
0.1
|
|
—
|
Changes in operating
assets and liabilities:
|
|
|
|
Accounts
receivable
|
29.5
|
|
5.3
|
Inventories
|
27.2
|
|
22.3
|
Inventories owed to
customers and suppliers
|
(62.7)
|
|
(43.6)
|
Other current
assets
|
(0.8)
|
|
15.1
|
Accounts payable and
other liabilities
|
(5.1)
|
|
(4.2)
|
Payables under
inventory purchase agreements
|
25.7
|
|
(11.1)
|
Deferred revenue and
advances from customers, net of deferred costs
|
0.4
|
|
0.1
|
Pension and
postretirement benefit liabilities
|
(2.6)
|
|
(0.7)
|
Other changes,
net
|
—
|
|
(1.3)
|
Cash provided by (used
in) operating activities
|
5.3
|
|
(9.7)
|
|
|
|
|
INVESTING
|
|
|
|
Capital
expenditures
|
(1.5)
|
|
(0.3)
|
Cash used in investing
activities
|
(1.5)
|
|
(0.3)
|
|
|
|
|
FINANCING
|
|
|
|
Proceeds from the
issuance of common stock, net
|
7.1
|
|
22.0
|
Exercise of stock
options
|
0.4
|
|
—
|
Payment of interest
classified as debt
|
(3.1)
|
|
(3.1)
|
Cash provided by
financing activities
|
4.4
|
|
18.9
|
|
|
|
|
Effect of exchange rate
changes on cash, cash equivalents and restricted cash
|
(0.1)
|
|
—
|
|
|
|
|
Increase in cash, cash
equivalents and restricted cash
|
8.1
|
|
8.9
|
Cash, cash equivalents
and restricted cash, beginning of period
|
233.8
|
|
212.4
|
Cash, cash equivalents
and restricted cash, end of period
|
$
241.9
|
|
$
221.3
|
|
|
|
|
Non-cash
activities:
|
|
|
|
Adjustment of right to
use lease assets from lease modification
|
$
—
|
|
$
4.2
|
Property, plant and
equipment included in accounts payable and accrued
liabilities
|
$
0.1
|
|
$
—
|
Equity issuance costs
included in accounts payable and accrued liabilities
|
$
0.3
|
|
$
—
|
Shares withheld for
employee taxes
|
$
—
|
|
$
1.9
|
ATM proceeds included
in accounts receivable
|
$
—
|
|
$
1.2
|
CENTRUS ENERGY
CORP.
CONSOLIDATED BALANCE
SHEETS
(Unaudited; in
millions, except share and per share data)
|
|
|
March
31,
2024
|
|
December
31,
2023
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$
209.3
|
|
$
201.2
|
Accounts
receivable
|
19.9
|
|
49.4
|
Inventories
|
279.2
|
|
306.4
|
Deferred costs
associated with deferred revenue
|
117.6
|
|
117.6
|
Other current
assets
|
30.5
|
|
10.8
|
Total current
assets
|
656.5
|
|
685.4
|
Property, plant and
equipment, net of accumulated depreciation of $4.4 million as
of
March 31, 2024
and $4.3 million as of December 31, 2023
|
7.6
|
|
7.0
|
Deposits for financial
assurance
|
13.7
|
|
32.4
|
Intangible assets,
net
|
38.3
|
|
39.4
|
Deferred tax
assets
|
30.6
|
|
28.5
|
Other long-term
assets
|
3.3
|
|
3.5
|
Total assets
|
$
750.0
|
|
$
796.2
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
Current
liabilities:
|
|
|
|
Accounts payable and
accrued liabilities
|
$
36.7
|
|
$
41.9
|
Payables under
inventory purchase agreements
|
67.6
|
|
41.9
|
Inventories owed to
customers and suppliers
|
21.6
|
|
84.3
|
Deferred revenue and
advances from customers
|
283.0
|
|
282.6
|
Short-term inventory
loans
|
40.2
|
|
14.3
|
Current
debt
|
6.1
|
|
6.1
|
Total current
liabilities
|
455.2
|
|
471.1
|
Long-term
debt
|
86.5
|
|
89.6
|
Postretirement health
and life benefit obligations
|
79.0
|
|
81.2
|
Pension benefit
liabilities
|
16.9
|
|
17.3
|
Advances from
customers
|
32.8
|
|
32.8
|
Long-term inventory
loans
|
37.5
|
|
63.1
|
Other long-term
liabilities
|
8.3
|
|
8.8
|
Total
liabilities
|
716.2
|
|
763.9
|
|
|
|
|
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,
15,281,474 and 14,956,434 shares issued and outstanding as of March
31, 2024 and
December 31, 2023, respectively
|
1.5
|
|
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 March 31, 2024 and December 31,
2023
|
0.1
|
|
0.1
|
Excess of capital over
par value
|
188.2
|
|
180.5
|
Accumulated
deficit
|
(155.6)
|
|
(149.5)
|
Accumulated other
comprehensive loss
|
(0.4)
|
|
(0.3)
|
Total stockholders'
equity
|
33.8
|
|
32.3
|
Total liabilities and
stockholders' equity
|
$
750.0
|
|
$
796.2
|
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SOURCE Centrus Energy Corp.