Centrus Energy (LEU) FY2023 results: revenue $320 million, up 9.0% on the year

Centrus Energy Corp. (LEU) reported revenue of $320 million for fiscal 2023, the year ended 31 December 2023, up 9.0% on the year before. Net income was $84 million, up 61.7%, and diluted earnings per share $5.44. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2024.

Revenue

$320 million

+9.0% on the year

FY2016FY2023

Operating margin

16.4%

20.3% a year earlier

FY2016FY2023

Net income

$84 million

+61.7% on the year

FY2016FY2023

Diluted EPS

$5.44

+60.9% on the year

FY2016FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ million	FY2023	FY2022	FY2021	On the year
Revenue	320	294	298	+9.0%
Cost of revenue	208	176	184	+18.3%
Gross profit	112	118	114	-4.9%
Gross margin	35.0%	40.1%	38.4%
Research and development	14.2	14.8	2.1	-4.1%
Selling, general and administrative	36.9	33.9	36.0	+8.8%
Operating income	52.4	59.7	68.3	-12.2%
Operating margin	16.4%	20.3%	22.9%
Interest expense	1.3	0.5	0.1	+160.0%
Pre-tax income	84.5	67.8	136	+24.6%
Income tax	0.1	15.6	-39.1	-99.4%
Effective tax rate	0.1%	23.0%	-28.8%
Net income	84.4	52.2	175	+61.7%
Net margin	26.4%	17.8%	58.7%
Diluted EPS	$5.44	$3.38	$9.75	+60.9%

$ 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	FY2023	FY2022	FY2021	On the year
Operating cash flow	9.1	20.6	50.0	-55.8%
Capital expenditure	1.6	0.7	1.2	+128.6%
Free cash flow	7.5	19.9	48.8	-62.3%
Free cash flow margin	2.3%	6.8%	16.4%
Cash from investing	-1.6	-0.7	-1.2
Cash from financing	13.9	-4.3	-9.9
Depreciation and amortisation	7.1	9.6	8.6	-26.0%
Share-based compensation	2.3	1.9	12.2	+21.1%
Diluted shares, weighted	16m	15m	14m	+3.4%

Balance sheet

$ million	FY2023	FY2022	FY2021	On the year
Shareholders' equity	32.3	-74.1	-142
Debt	95.7	102	108	-6.0%
Operating lease liabilities	2.6	6.1	3.0	-57.4%
Other liabilities	666	672	603	-0.9%
Total liabilities and equity	796	706	572	+12.9%
Fixed assets	7.0	5.5	5.3	+27.3%
Intangible assets	39.4	45.7	54.7	-13.8%
Cash and equivalents	201	180	194	+11.8%
Receivables	49.4	38.1	29.1	+29.7%
Inventory	306	209	91.1	+46.5%
Other assets	193	227	198	-15.1%
Total assets	796	706	572	+12.9%

10-K for the year ended 31 December 2023, filed 9 February 2024: the filing.