Centrus Energy secures $900 million U.S. nuclear fuel contract

Centrus Energy has secured a $900 million contract from the U.S. Department of Energy to provide high-assay low-enriched uranium (HALEU) for advanced nuclear reactors. This contract, which supports the company’s $3.6 billion backlog, reinforces its position as a key domestic provider of nuclear fuel. The company was also recently added to the S&P SmallCap 600 index.

Despite the significant contract and its role as the only public U.S. company selling HALEU, Centrus faces financial challenges. Analysts note that while sales are expanding, net income and profit margins have recently declined. The company is currently navigating a transition period as it restarts domestic low-enriched uranium (LEU) operations in Ohio to support U.S. energy independence following sanctions on Russian uranium imports. Full-scale commercial operations are expected to ramp up as the U.S. moves toward a complete ban on Russian uranium by 2028.