Centrus Energy (LEU) FY2024 results: revenue $442 million, up 38.0% on the year

Centrus Energy Corp. (LEU) reported revenue of $442 million for fiscal 2024, the year ended 31 December 2024, up 38.0% on the year before. Net income was $73 million, down 13.3%, and diluted earnings per share $4.47. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2025.

Revenue

$442 million

+38.0% on the year

FY2017FY2024

Operating margin

10.9%

16.4% a year earlier

FY2017FY2024

Net income

$73 million

-13.3% on the year

FY2017FY2024

Diluted EPS

$4.47

-17.8% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	442	320	294	+38.0%
Cost of revenue	330	208	176	+58.8%
Gross profit	112	112	118	-0.5%
Gross margin	25.2%	35.0%	40.1%
Research and development	17.2	14.2	14.8	+21.1%
Selling, general and administrative	35.0	36.9	33.9	-5.1%
Operating income	48.0	52.4	59.7	-8.4%
Operating margin	10.9%	16.4%	20.3%
Interest expense	2.7	1.3	0.5	+107.7%
Pre-tax income	73.0	84.5	67.8	-13.6%
Income tax	-0.2	0.1	15.6
Effective tax rate	-0.3%	0.1%	23.0%
Net income	73.2	84.4	52.2	-13.3%
Net margin	16.6%	26.4%	17.8%
Diluted EPS	$4.47	$5.44	$3.38	-17.8%

$ 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	37.0	9.1	20.6	+306.6%
Capital expenditure	4.1	1.6	0.7	+156.2%
Free cash flow	32.9	7.5	19.9	+338.7%
Free cash flow margin	7.4%	2.3%	6.8%
Cash from investing	-4.1	-1.6	-0.7
Cash from financing	437	13.9	-4.3	+3,044.6%
Depreciation and amortisation	10.8	7.1	9.6	+52.1%
Share-based compensation	1.5	2.3	1.9	-34.8%
Diluted shares, weighted	16m	16m	15m	+5.6%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	161	32.3	-74.1	+399.7%
Debt	479	95.7	102	+400.1%
Operating lease liabilities	1.2	2.6	6.1	-53.8%
Other liabilities	452	666	672	-32.1%
Total liabilities and equity	1,093	796	706	+37.3%
Fixed assets	9.4	7.0	5.5	+34.3%
Intangible assets	29.6	39.4	45.7	-24.9%
Cash and equivalents	671	201	180	+233.7%
Receivables	80.0	49.4	38.1	+61.9%
Inventory	162	306	209	-47.3%
Other assets	141	193	227	-26.7%
Total assets	1,093	796	706	+37.3%

10-K for the year ended 31 December 2024, filed 7 February 2025: the filing.