BETHESDA, Md., Aug. 4, 2022
/PRNewswire/ -- Centrus Energy Corp. (NYSE American: LEU)
("Centrus" or the "Company") today reported second quarter 2022
results.
Highlights
- Net income of $37.4 million on
revenue of $99.1 million in Q2 2022,
compared to net income of $11.6
million on $62.4 million in
revenue in Q2 2021
- Long-term order book valued at approximately $1.0 billion as of June
30, 2022, and December 31,
2021
- Secured more than $135 million in
new sales contracts and commitments in 2022
- Continued to meet all milestones under the DOE HALEU
contract
Centrus Energy Corp. today reported net income of $37.4 million for the quarter ended June 30,
2022, compared to net income of $11.6
million for the second quarter of 2021. The net income
allocable to common stockholders in the second quarter of 2022 was
$37.4 million, or $2.56 (basic) and $2.51 (diluted) per common share.
"This was a strong quarter for Centrus, driven by our LEU
Segment. We are grateful to our customers for placing new,
multi-year orders with us that increase the value of our order
book," said Centrus President and CEO Daniel B. Poneman. "Moreover, industry,
Congress, and the Administration now share the same sense of
urgency about the need to restore America's domestic nuclear fuel
supply chain to support both new and existing reactors. Centrus is
uniquely positioned to meet the growing demand for U.S.-origin
Low-Enriched Uranium ("LEU") and High-Assay, Low-Enriched Uranium
("HALEU"). We are licensed to produce LEU and have the only
U.S. Nuclear Regulatory Commission license to produce HALEU, as
well as the only deployment-ready enrichment technology that is
suitable for national security missions."
Financial Results
Centrus generated total revenue of $99.1
million for the second quarter of 2022 compared to
$62.4 million in the second quarter
of 2021.
Revenue from the Low Enriched Uranium segment was $85.5 million and $45.2
million in the three months ended June 30, 2022 and 2021, respectively, an increase
of $40.3 million. The increase for
the three months was attributable to an increase in the average SWU
price, which was partially offset by a decrease in the volume of
SWU sold, largely due to the variability in timing of utility
customer orders and related contracts.
Revenue from the technical solutions segment was $13.6 million and $17.2
million in the three months ended June 30, 2022 and 2021, respectively, a decrease
of $3.6 million. The decrease in
revenue in the three months was primarily related to a $2.9 million decrease in revenue generated by the
HALEU Contract and a $1.0 million
decrease in revenue generated by the X-energy contract.
Cost of sales for the LEU segment was $26.1 million and $27.0
million in the three months ended June 30, 2022 and 2021, respectively, a decrease
of $0.9 million. The decrease for the
three months was attributable to decreases in both SWU sales volume
and the average SWU unit cost. Cost of sales for the three months
ended June 30, 2022, included
$5.5 million for the revaluation of
obligations for SWU borrowed in 2018-2022.
Cost of sales for the technical solutions segment was
$12.1 million and $18.3 million in the three months ended
June 30, 2022 and 2021, respectively,
a decrease of $6.2 million. The
decrease of $6.2 million in the three
months is related to a reduction in costs of approximately
$5.6 million associated with the
HALEU Contract and a reduction in costs of approximately
$1.0 million associated with the
X-energy contract, partially offset by new contract work of
approximately $0.4 million.
Gross profit for the Company was $60.9
million and $17.1 million in
the three months ended June 30, 2022
and 2021, respectively.
HALEU Update
Centrus recently completed conceptual design for a
commercial-scale HALEU cascade that would have 120 centrifuges and
a much larger output than the 16-centrifuge demonstration cascade.
Each 120-machine commercial cascade could produce approximately 6
metric tons of HALEU per year at 19.75 percent U235 or greater
quantities at lower enrichment levels. Subject to the availability
of funding by the government and/or other financing, Centrus could
scale up the Piketon facility to
accommodate whatever level of HALEU production is required and
could also produce Low-Enriched Uranium for existing reactors if
needed. The Piketon facility is
large enough to accommodate thousands of centrifuges.
New Sales Contract and Commitments
Prices in the global uranium enrichment market have risen
significantly over the course of 2022, giving Centrus the
opportunity to make long-term sales at higher prices and margins.
In the first half of 2022, Centrus secured more than $135 million in new sales contracts and
commitments. These sales include deliveries of SWU and uranium from
2022 through 2026.
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.
Forward-Looking Statements:
This news release contains "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934.
In this context, forward-looking statements mean statements related
to future events, may address our expected future business and
financial performance, and often contain words such as "expects",
"anticipates", "intends", "plans", "believes", "will", "should",
"could", "would" or "may" and other words of similar meaning.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain.
For Centrus Energy Corp., particular risks and uncertainties
that could cause our actual future results to differ materially
from those expressed in our forward-looking statements include but
are not limited to the following which are, and will be,
exacerbated by the novel coronavirus ("COVID-19") pandemic and
subsequent variants, and any worsening of the global business and
economic environment as a result; risks related to the war in
Ukraine and geopolitical conflicts
and the imposition of sanctions or other measures imposed by either
the U.S. or foreign governments, organizations (including the
United Nations, the European Union or other international
organizations), entities or persons, that could directly or
indirectly impact our ability to obtain or sell low enriched
uranium ("LEU") under our existing supply contract with the Russian
government-owned entity TENEX, Joint-Stock Company ("TENEX"); risks
related to the refusal of TENEX to deliver LEU to us if TENEX is
unable to identify an unsanctioned bank to which we can send
payments for the separative work units ("SWU") contained in the
LEU, or to make other payments under our supply contract with
TENEX; risks related to natural and other disasters, including the
continued impact of the March 2011
earthquake and tsunami in Japan on
the nuclear industry and on our business, results of operations and
prospects; risks related to financial difficulties experienced by
customers or suppliers, including possible bankruptcies,
insolvencies or any other inability to pay for our products or
services or delays in making timely payment; risks related to
pandemics and other health crises, the impact and potential
extended duration of the current supply/demand imbalance in the
market for LEU; risks related to our ability to sell the LEU we
procure pursuant to our purchase obligations under our supply
agreements including those imposed under the 1992 Russian
Suspension Agreement as amended, international trade legislation
and other international trade restrictions; risks related to
existing or new trade barriers and contract terms that limit our
ability to procure LEU for, or deliver LEU to customers; pricing
trends and demand in the uranium and enrichment markets and their
impact on our profitability; risks related to the movement and
timing of customer orders; risks related to our dependence on
others, such as our transporters, for deliveries of LEU including
deliveries from TENEX, under our commercial supply agreement with
TENEX and deliveries under our long-term commercial supply
agreement with Orano Cycle ("Orano") or other suppliers; risks
associated with our reliance on third-party suppliers and service
providers to provide essential products and services to us; risks
related to the fact that we face significant competition from major
producers who may be less cost sensitive or are wholly or partially
government owned; risks that our ability to compete in foreign
markets may be limited for various reasons; risks related to the
fact that our revenue is largely dependent on our largest
customers; risks related to our sales order book, including
uncertainty concerning customer actions under current contracts and
in future contracting due to market conditions and our lack of
current production capability; risks related to whether or when
government funding or demand for high-assay low-enriched uranium
("HALEU") for government or commercial uses will materialize; risks
and uncertainties regarding funding for continuation and deployment
of the American Centrifuge technology; risks related to (i) our
ability to perform and absorb costs under our agreement with the
U.S. Department of Energy ("DOE") to deploy a cascade of
centrifuges to demonstrate production of HALEU for advanced
reactors (the "HALEU Contract"), (ii) our ability to obtain
contracts and funding to be able to continue operations and (iii)
our ability to obtain and/or perform under other agreements; risks
that (i) we may not obtain the full benefit of the HALEU Contract
and may not be able or allowed to operate the HALEU enrichment
facility to produce HALEU after the completion of the existing
HALEU Contract or (ii) the HALEU enrichment facility may not be
available to us as a future source of supply; risks related to
uncertainty regarding our ability to commercially deploy
competitive enrichment technology; risks related to the potential
for further demobilization or termination of our American
Centrifuge work; risks that we will not be able to timely complete
the work that we are obligated to perform; risks related to our
ability to perform fixed-price and cost-share contracts such as the
HALEU Contract, including the risk that costs could be higher than
expected; risks related to our significant long-term liabilities,
including material unfunded defined benefit pension plan
obligations and postretirement health and life benefit obligations;
risks relating to our 8.25% notes (the "8.25% Notes") maturing in
February 2027; the risks of revenue
and operating results fluctuating significantly from quarter to
quarter, and in some cases, year to year; risks related to the
impact of financial market conditions on our business, liquidity,
prospects, pension assets and insurance facilities; risks related
to the Company's capital concentration; risks related to the value
of our intangible assets related to the sales order book and
customer relationships; risks related to the limited trading
markets in our securities; risks related to decisions made by our
Class B stockholders regarding their investment in the Company
based upon factors that are unrelated to the Company's performance;
risks that a small number of holders of our Class A Common Stock,
par value $0.10 per share ("Class A
Common Stock") (whose interests may not be aligned with other
holders of our Class A Common Stock), may exert significant
influence over the direction of the Company; risks related to (i)
the use of our net operating losses ("NOLs") carryforwards and net
unrealized built-in losses ("NUBILs") to offset future taxable
income and the use of the Rights Agreement (as defined herein) to
prevent an "ownership change" as defined in Section 382 of the
Internal Revenue Code of 1986, as amended (the "Code") and (ii) our
ability to generate taxable income to utilize all or a portion of
the NOLs prior to the expiration thereof and NUBILs; failures or
security breaches of our information technology systems; risks
related to our ability to attract and retain key personnel; risks
related to the potential for the DOE to seek to terminate or
exercise its remedies under its agreements with the Company; risks
related to actions, including reviews, that may be taken by
the United States government, the
Russian government or other governments that could affect our
ability to perform under our contractual obligations or the ability
of our sources of supply to perform under their contractual
obligations to us; risks related to our ability to perform and
receive timely payment under agreements with the DOE or other
government agencies, including risks and uncertainties related to
the ongoing funding by the government and potential audits; risks
related to changes or termination of agreements with the U.S.
government or other counterparties; risks related to the
competitive environment for our products and services; risks
related to changes in the nuclear energy industry; risks related to
the competitive bidding process associated with obtaining
contracts, including government contracts; risks that we will be
unable to obtain new business opportunities or achieve market
acceptance of our products and services or that products or
services provided by others will render our products or services
obsolete or noncompetitive; risks related to potential strategic
transactions that could be difficult to implement, disrupt our
business or change our business profile significantly; risks
related to the outcome of legal proceedings and other contingencies
(including lawsuits and government investigations or audits); risks
related to the impact of government regulation and policies
including by the DOE and the U.S. Nuclear Regulatory Commission;
risks of accidents during the transportation, handling or
processing of hazardous or radioactive material that may pose a
health risk to humans or animals, cause property or environmental
damage, or result in precautionary evacuations; risks associated
with claims and litigation arising from past activities at sites we
currently operate or past activities at sites that we no longer
operate, including the Paducah,
Kentucky, and Portsmouth,
Ohio, gaseous diffusion plants; and other risks and
uncertainties discussed in this and our other filings with the
Securities and Exchange Commission ("SEC"), including under Part I,
Item 1A - "Risk Factors" in our Annual Report on Form 10-K for the
year ended December 31, 2021, and under Part II, Item 1A -
"Risk Factors" in our Quarterly Report on Form 10-Q for the quarter
ended June 30, 2022.
These factors may not constitute all factors that could cause
actual results to differ from those discussed in any
forward-looking statement. Accordingly, forward-looking statements
should not be relied upon as a predictor of actual results. Readers
are urged to carefully review and consider the various disclosures
made in this report and in our other filings with the SEC that
attempt to advise interested parties of the risks and factors that
may affect our business. We do not undertake to update our
forward-looking statements to reflect events or circumstances that
may arise after the date of this press release except as required
by law.
Contacts:
Investors: Dan Leistikow at
LeistikowD@centrusenergy.com
Media: Lindsey Geisler at
GeislerLR@centrusenergy.com
CENTRUS ENERGY CORP.
ADJUSTED NET INCOME PER SHARE
RECONCILIATION TABLE
The Company measures Net Income and Net Income per Share both on
a GAAP basis and on an adjusted basis to exclude deemed dividends
allocable to retired preferred stock shares ("Adjusted Net Income"
and "Adjusted Net Income per Share"). We believe Adjusted Net
Income and Adjusted Net Income per Share, which are non-GAAP
financial measures, provide investors with additional understanding
of the Company's financial performance as well as its strategic
financial planning analysis and period-to-period comparability.
These metrics are useful to investors because they reflect how
management evaluates the Company's ongoing operating performance
from period-to-period after removing certain transactions and
activities that affect comparability of the metrics and are not
reflective of the Company's core operations.
|
Three Months
Ended
June
30,
|
|
Six Months
Ended
June
30,
|
|
2022
|
|
2021
|
|
2022
|
|
2021
|
Numerator (in
millions):
|
|
|
|
|
|
|
|
Net income
|
$
37.4
|
|
$
11.6
|
|
$
37.0
|
|
$
16.7
|
Less: Preferred stock
dividends - undeclared and cumulative
|
—
|
|
0.7
|
|
—
|
|
1.4
|
Less: Distributed
earnings allocable to retired preferred shares
|
—
|
|
—
|
|
—
|
|
6.6
|
Net income
allocable to common stockholders
|
$
37.4
|
|
$
10.9
|
|
$
37.0
|
|
$
8.7
|
|
|
|
|
|
|
|
|
Plus: Distributed
earnings allocable to retired preferred shares
|
$
—
|
|
$
—
|
|
$
—
|
|
$
6.6
|
|
|
|
|
|
|
|
|
Adjusted net
income, including distributed earnings allocable to
retired preferred shares (Non-GAAP)
|
$
37.4
|
|
$
10.9
|
|
$
37.0
|
|
$
15.3
|
|
|
|
|
|
|
|
|
Denominator (in
thousands):
|
|
|
|
|
|
|
|
Average common shares
outstanding - basic
|
14,587
|
|
13,443
|
|
14,567
|
|
13,132
|
Average common shares
outstanding - diluted
|
14,876
|
|
13,743
|
|
14,903
|
|
13,452
|
|
|
|
|
|
|
|
|
Net income per share
(in dollars):
|
|
|
|
|
|
|
|
Basic
|
$
2.56
|
|
$
0.81
|
|
$
2.54
|
|
$
0.66
|
Diluted
|
$
2.51
|
|
$
0.79
|
|
$
2.48
|
|
$
0.65
|
|
|
|
|
|
|
|
|
Plus: Effect of
distributed earnings allocable to retired preferred shares, per
common share (in dollars):
|
|
|
|
|
|
|
|
Basic
|
$
—
|
|
$
—
|
|
$
—
|
|
$
0.51
|
Diluted
|
$
—
|
|
$
—
|
|
$
—
|
|
$
0.49
|
|
|
|
|
|
|
|
|
Adjusted Net Income per
Share (Non-GAAP) (in dollars):
|
|
|
|
|
|
|
|
Basic
|
$
2.56
|
|
$
0.81
|
|
$
2.54
|
|
$
1.17
|
Diluted
|
$
2.51
|
|
$
0.79
|
|
$
2.48
|
|
$
1.14
|
CENTRUS ENERGY
CORP
CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Unaudited; in
millions, except share and per share data)
|
|
|
Three Months
Ended
June
30,
|
|
Six Months
Ended
June
30,
|
|
2022
|
|
2021
|
|
2022
|
|
2021
|
Revenue:
|
|
|
|
|
|
|
|
Separative work
units
|
$
85.5
|
|
$
45.2
|
|
$
98.3
|
|
$
83.3
|
Uranium
|
—
|
|
—
|
|
4.9
|
|
—
|
Technical
solutions
|
13.6
|
|
17.2
|
|
31.2
|
|
34.7
|
Total
revenue
|
99.1
|
|
62.4
|
|
134.4
|
|
118.0
|
Cost of
Sales:
|
|
|
|
|
|
|
|
Separative work units
and uranium
|
26.1
|
|
27.0
|
|
40.9
|
|
52.4
|
Technical
solutions
|
12.1
|
|
18.3
|
|
26.3
|
|
36.8
|
Total cost of
sales
|
38.2
|
|
45.3
|
|
67.2
|
|
89.2
|
Gross profit
|
60.9
|
|
17.1
|
|
67.2
|
|
28.8
|
Advanced technology
costs
|
3.5
|
|
0.2
|
|
4.6
|
|
0.7
|
Selling, general and
administrative
|
8.3
|
|
7.8
|
|
15.8
|
|
16.0
|
Amortization of
intangible assets
|
4.0
|
|
1.6
|
|
5.1
|
|
3.7
|
Special charges for
workforce reductions
|
0.5
|
|
—
|
|
0.5
|
|
—
|
Operating
income
|
44.6
|
|
7.5
|
|
41.2
|
|
8.4
|
Nonoperating
components of net periodic benefit income
|
(3.4)
|
|
(4.3)
|
|
(6.7)
|
|
(8.6)
|
Investment
income
|
(0.2)
|
|
—
|
|
(0.2)
|
|
—
|
Income before income
taxes
|
48.2
|
|
11.8
|
|
48.1
|
|
17.0
|
Income tax
expense
|
10.8
|
|
0.2
|
|
11.1
|
|
0.3
|
Net income and
comprehensive income
|
37.4
|
|
11.6
|
|
37.0
|
|
16.7
|
Preferred stock
dividends - undeclared and cumulative
|
—
|
|
0.7
|
|
—
|
|
1.4
|
Distributed earnings
allocable to retired preferred shares
|
—
|
|
—
|
|
—
|
|
6.6
|
Net income allocable to
common stockholders
|
$
37.4
|
|
$
10.9
|
|
$
37.0
|
|
$
8.7
|
|
|
|
|
|
|
|
|
Net income per
share:
|
|
|
|
|
|
|
|
Basic
|
$
2.56
|
|
$
0.81
|
|
$
2.54
|
|
$
0.66
|
Diluted
|
$
2.51
|
|
$
0.79
|
|
$
2.48
|
|
$
0.65
|
Average number of
common shares outstanding (in thousands):
|
|
|
|
|
|
|
|
Basic
|
14,587
|
|
13,443
|
|
14,567
|
|
13,132
|
Diluted
|
14,876
|
|
13,743
|
|
14,903
|
|
13,452
|
CENTRUS ENERGY
CORP
CONSOLIDATED
STATEMENTS OF CASH FLOWS
(Unaudited; in
millions)
|
|
|
Six Months
Ended
June
30,
|
|
2022
|
|
2021
|
OPERATING
|
|
|
|
Net income
|
$
37.0
|
|
$
16.7
|
Adjustments to
reconcile net income to cash used in operating
activities:
|
|
|
|
Depreciation and
amortization
|
5.4
|
|
4.0
|
Accrued loss on
long-term contract
|
(0.5)
|
|
(4.7)
|
Deferred tax
assets
|
10.6
|
|
—
|
Equity related
compensation
|
1.4
|
|
0.2
|
Revaluation of
inventory borrowing
|
5.5
|
|
—
|
Changes in operating
assets and liabilities:
|
|
|
|
Accounts
receivable
|
5.1
|
|
10.6
|
Inventories
|
(10.7)
|
|
(6.5)
|
Inventories owed to
customers and suppliers
|
(8.1)
|
|
(4.6)
|
Other current
assets
|
(15.1)
|
|
0.5
|
Accounts payable and
other liabilities
|
(8.0)
|
|
1.6
|
Payables under
inventory purchase agreements
|
(37.9)
|
|
7.8
|
Deferred revenue and
advances from customers, net of deferred costs
|
(30.6)
|
|
(7.8)
|
Pension and
postretirement benefit liabilities
|
(10.0)
|
|
(14.8)
|
Other, net
|
(0.3)
|
|
(0.1)
|
Cash provided by (used
in) operating activities
|
(56.2)
|
|
2.9
|
|
|
|
|
INVESTING
|
|
|
|
Capital
expenditures
|
(0.5)
|
|
(0.7)
|
Cash used in investing
activities
|
(0.5)
|
|
(0.7)
|
|
|
|
|
FINANCING
|
|
|
|
Proceeds from the
issuance of common stock, net
|
—
|
|
27.2
|
Exercise of stock
options
|
0.2
|
|
0.4
|
Withholding of shares
to fund grantee tax obligations under stock-based compensation
plan
|
—
|
|
(2.4)
|
Payment of interest
classified as debt
|
(3.1)
|
|
(3.1)
|
Other
|
(0.3)
|
|
(0.3)
|
Cash provided by (used
in) financing activities
|
(3.2)
|
|
21.8
|
|
|
|
|
Increase (decrease) in
cash, cash equivalents and restricted cash
|
(59.9)
|
|
24.0
|
Cash, cash equivalents
and restricted cash, beginning of period
|
196.8
|
|
157.9
|
Cash, cash equivalents
and restricted cash, end of period
|
$
136.9
|
|
$
181.9
|
|
|
|
|
Non-cash
activities:
|
|
|
|
Common stock and
warrant issued in exchange for preferred stock
|
$
—
|
|
$
7.5
|
Reclassification of
stock-based compensation liability to equity
|
$
10.6
|
|
$
7.5
|
Disposal of right to
use lease assets from lease modification
|
$
—
|
|
$
1.0
|
Property, plant and
equipment included in accounts payable and accrued
liabilities
|
$
0.2
|
|
$
0.1
|
Shares withheld for
employee taxes
|
$
1.9
|
|
$
2.4
|
CENTRUS ENERGY
CORP
CONSOLIDATED BALANCE
SHEETS
(Unaudited; in
millions, except share and per share data)
|
|
|
June 30,
2022
|
|
December 31,
2021
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$
115.6
|
|
$
193.8
|
Accounts
receivable
|
24.0
|
|
29.1
|
Inventories
|
121.1
|
|
91.1
|
Deferred costs
associated with deferred revenue
|
135.3
|
|
143.3
|
Other current
assets
|
23.7
|
|
8.6
|
Total current
assets
|
419.7
|
|
465.9
|
Property, plant and
equipment, net of accumulated depreciation of $3.2 million as
of
June 30, 2022 and $3.0 million as of December 31,
2021
|
5.6
|
|
5.3
|
Deposits for financial
assurance
|
21.1
|
|
2.8
|
Intangible assets,
net
|
49.6
|
|
54.7
|
Deferred tax
assets
|
30.9
|
|
41.4
|
Other long-term
assets
|
1.8
|
|
2.3
|
Total assets
|
$
528.7
|
|
$
572.4
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' DEFICIT
|
|
|
|
Current
liabilities:
|
|
|
|
Accounts payable and
accrued liabilities
|
$
25.6
|
|
$
37.8
|
Payables under
inventory purchase agreements
|
—
|
|
37.9
|
Inventories owed to
customers and suppliers
|
0.3
|
|
8.4
|
Deferred revenue and
advances from customers
|
264.8
|
|
303.1
|
Current
debt
|
6.1
|
|
6.1
|
Total current
liabilities
|
296.8
|
|
393.3
|
Long-term
debt
|
98.8
|
|
101.8
|
Postretirement health
and life benefit obligations
|
112.2
|
|
114.9
|
Pension benefit
liabilities
|
16.0
|
|
23.1
|
Advances from
customers
|
46.2
|
|
45.1
|
Long-term inventory
loans
|
45.8
|
|
22.4
|
Other long-term
liabilities
|
7.8
|
|
13.7
|
Total
liabilities
|
623.6
|
|
714.3
|
|
|
|
|
Stockholders'
deficit:
|
|
|
|
Preferred stock, par
value $1.00 per share, 20,000,000 shares authorized
|
|
|
|
Series A Participating
Cumulative Preferred Stock, none issued
|
—
|
|
—
|
Series B Senior
Preferred Stock, none issued
|
—
|
|
—
|
Class A Common Stock,
par value $0.10 per share, 70,000,000 shares authorized,
13,769,384 and 13,649,933 shares issued and outstanding as of
June 30, 2022 and December 31, 2021,
respectively
|
1.4
|
|
1.4
|
Class B Common Stock,
par value $0.10 per share, 30,000,000 shares authorized,
719,200 shares issued and outstanding as of June 30, 2022 and
December 31, 2021
|
0.1
|
|
0.1
|
Excess of capital over
par value
|
150.9
|
|
140.7
|
Accumulated
deficit
|
(247.6)
|
|
(284.6)
|
Accumulated other
comprehensive income, net of tax
|
0.3
|
|
0.5
|
Total stockholders'
deficit
|
(94.9)
|
|
(141.9)
|
Total liabilities and
stockholders' deficit
|
$
528.7
|
|
$
572.4
|
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SOURCE Centrus Energy Corp.