Centrus Energy Corp (LEU) Falls 31% As PRISM Uranium Index Tumbles

Centrus Energy Corp (NYSE American: LEU) fell 31% for the day, as the PRISM Uranium Index tumbled 8.3%, the sharpest fall of all the PRISM Indexes. LEU is not alone, as every Uranium stock in the index was negative.

The downturn for LEU also follows a Q3 loss and lagging revenue estimates, posting an earnings surprise of -153.85% compared to the Zacks Consensus Estimate.

“While our third quarter results reflected the typical lumpiness attributable to the timing of customer deliveries that we regularly discuss on earnings calls, we continued to see strong momentum across our business segments, as reflected in both our total order book value and in the broader trends toward greater investment in nuclear energy,” said Centrus President and CEO Daniel B. Poneman.  “Congress approved a $700 million investment in High-Assay, Low-Enriched Uranium (HALEU) as part of the U.S. Inflation Reduction Act, and there is growing bipartisan support for further action to jumpstart construction of domestic LEU and HALEU capacity. We look forward to seeing how DOE implements that funding. In the first nine months of 2022, we also secured $270 million in new sales contracts and commitments with contract terms extending through 2030 to support our long-term success. As the only company with a U.S. Nuclear Regulatory Commission license to produce HALEU, as well as the only domestic operator of deployment-ready enrichment technology in the United States, Centrus is well positioned to serve the growing need for critical fuels for advanced nuclear reactors both domestically and around the world.”

About Centrus Energy Corp.

Centrus Energy is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus provides value to its utility customers through the reliability and diversity of its supply sources – helping them meet the growing need for clean, affordable, carbon-free electricity. Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal. With world-class technical and engineering capabilities, Centrus is also advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future. Find out more at www.centrusenergy.com.

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Centrus Energy Corp (LEU) Falls 31% As  PRISM Uranium Index Tumbles

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