Centrus Energy Corp. reported a net income of $73.2 million for the full year ended December 31, 2024, or $4.49 per basic common share. Total revenue for 2024 increased by $121.8 million, or 38%, to $442.0 million, compared to $320.2 million in 2023.
The LEU segment revenue rose by $80.9 million (30%) to $349.9 million, driven by a 70% increase in uranium revenue and a 19% increase in SWU revenue due to higher average prices. The Technical Solutions segment revenue increased by $40.9 million (80%) to $92.1 million, primarily from the HALEU Operation Contract's transition to a cost-plus-incentive-fee basis.
Gross profit for the year was $111.5 million, a slight decrease of $0.6 million from 2023, mainly due to a decrease in LEU segment margin from a specific contract mix. The company's backlog stood at $3.7 billion as of December 31, 2024. Centrus also delivered approximately 545 kilograms of HALEU UF6 to the DOE and secured a $62.4 million clean energy tax credit allocation on January 10, 2025.
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