Centrus Energy (LEU) FY2022 results: revenue $294 million, down 1.5% on the year

Centrus Energy Corp. (LEU) reported revenue of $294 million for fiscal 2022, the year ended 31 December 2022, down 1.5% on the year before. Net income was $52 million, down 70.2%, and diluted earnings per share $3.38. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2023.

Revenue

$294 million

-1.5% on the year

FY2015FY2022

Operating margin

20.3%

22.9% a year earlier

FY2015FY2022

Net income

$52 million

-70.2% on the year

FY2015FY2022

Diluted EPS

$3.38

-65.3% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	294	298	247	-1.5%
Cost of revenue	176	184	150	-4.3%
Gross profit	118	114	97.6	+3.0%
Gross margin	40.1%	38.4%	39.5%
Research and development	14.8	2.1	2.8	+604.8%
Selling, general and administrative	33.9	36.0	36.0	-5.8%
Operating income	59.7	68.3	51.0	-12.6%
Operating margin	20.3%	22.9%	20.6%
Interest expense	0.5	0.1	0.1	+400.0%
Pre-tax income	67.8	136	53.0	-50.1%
Income tax	15.6	-39.1	-1.4
Effective tax rate	23.0%	-28.8%	-2.6%
Net income	52.2	175	54.4	-70.2%
Net margin	17.8%	58.7%	22.0%
Diluted EPS	$3.38	$9.75	$0.57	-65.3%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	20.6	50.0	67.1	-58.8%
Capital expenditure	0.7	1.2	1.4	-41.7%
Free cash flow	19.9	48.8	65.7	-59.2%
Free cash flow margin	6.8%	16.4%	26.6%
Cash from investing	-0.7	-1.2	-1.4
Cash from financing	-4.3	-9.9	-44.4
Depreciation and amortisation	9.6	8.6	7.3	+11.6%
Share-based compensation	1.9	12.2	7.1	-84.4%
Diluted shares, weighted	15m	14m	10m	+8.0%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	-74.1	-142	-321
Debt	102	108	114	-5.7%
Operating lease liabilities	6.1	3.0	4.3	+103.3%
Other liabilities	672	603	688	+11.3%
Total liabilities and equity	706	572	486	+23.3%
Fixed assets	5.5	5.3	4.9	+3.8%
Intangible assets	45.7	54.7	62.8	-16.5%
Cash and equivalents	180	194	152	-7.2%
Receivables	38.1	29.1	29.6	+30.9%
Inventory	209	91.1	64.8	+129.6%
Other assets	227	198	172	+14.5%
Total assets	706	572	486	+23.3%

10-K for the year ended 31 December 2022, filed 22 February 2023: the filing.