Centrus Energy Corp.

Centrus Energy CEO Amir Vexler said he sees a new market for the company's enriched uranium coming from the U.S. military through a potential supply deal to meet domestic security needs. Vexler told Bloomberg in an interview that he anticipates a U.S. government contract to supply nuclear fuel for defense will be finalized this year, after the Department of Energy issued a notice of intent last year to award the sole-source contract to Centrus, the only U.S.-owned company that produces enriched uranium for reactors. An agreement could include supplying fuel for U.S. Navy vessels or small reactors the military plans to deploy at bases, and could also support production of tritium used to make nuclear weapons, though end uses would be determined by the DoE's National Nuclear Security Administration. Centrus, which is building out a multibillion-dollar enrichment facility in Ohio, has a competitive edge in the national security market because of restrictions on using uranium sourced abroad for U.S. military applications.

X-Energy announced that the Department of Energy will provide up to an additional $1 billion for its ARDP cooperative agreement, potentially raising DOE’s cost share to $2.115 billion. CEO Clay Sell said the company has secured 7.6 metric tons of HALEU from the DOE and executed long-term enrichment agreements with Centrus Energy Corp. and General Matter. X-Energy will invest up to $8 million in milestone-based payments with SGL Carbon to double medium-grain graphite capacity by 2030. CFO Daniel Gross reported Q2 2026 total revenues and grant income of $54.6 million, with $1.9 billion in cash and investments and zero debt outstanding. The company expects NRC construction permit issuance by the first quarter of 2027 and is finalizing an agreement with a major investor-owned utility for its next 1 gigawatt project.

Among five nuclear stocks driving market enthusiasm, only Cameco and Centrus Energy sell nuclear fuel today, while Oklo, NuScale Power, and Nano Nuclear Energy remain pre-commercial developers with a combined market value of about $12 billion against roughly $12 million in trailing revenue. Cameco, with a market value of about $41 billion, booked about $2.5 billion in trailing-12-month revenue and raised its full-year outlook for realized uranium prices and revenue despite second-quarter production disruptions. Centrus Energy, valued at about $3.6 billion, generated about $474 million in trailing revenue and operates America's first facility licensed to produce high-assay low-enriched uranium, the fuel most advanced reactor designs require. The three developers hold billions in cash and are pursuing regulatory milestones and first commercial deployments, with Oklo reporting a first-half net loss of $81.6 million on $1.2 million in second-quarter revenue, NuScale holding the first NRC-certified small modular reactor design but only $10.7 million in trailing sales, and Nano Nuclear yet to record any revenue. The sell-off has pushed NuScale about 83% below its 52-week high, Oklo about 77% below, and Nano Nuclear about 70% below, while Cameco sits about 29% below its peak.

Centrus Energy reported second-quarter revenue rose 14% year over year to $176.1 million, with adjusted net income of $38.7 million, or $1.77 per diluted share. The LEU segment grew 22% to $153.4 million, while Technical Solutions revenue declined 21% to $22.7 million. The company's commercial backlog expanded to $4.5 billion through 2040, including $3 billion in contingent LEU and HALEU enrichment sales. Centrus also secured a $900 million Department of Energy task order and new HALEU agreements with Oklo and X-energy to support capacity expansion. Management maintained 2026 revenue guidance of $450 million to $500 million and capital-spending guidance of $350 million to $500 million, while raising its Piketon hiring target to more than 175 employees and continuing to target commercial production in 2029.

Centrus Energy, the only US company licensed to produce high-assay low-enriched uranium, reported a record $3.9 billion backlog extending through 2040 at the end of the first quarter of 2026. Roughly $3.1 billion of that backlog comes from its low-enriched uranium business. The company ended the quarter with approximately $1.8 billion in cash, cash equivalents, and restricted cash, while generating $76.7 million in revenue and $10 million in GAAP net income. Earlier this year, the US Department of Energy awarded Centrus a contract worth up to $900 million to help establish a domestic HALEU supply chain, reinforcing its position as a key player in America's nuclear fuel independence.

The United States and Saudi Arabia have signed a landmark 30-year, multibillion-dollar agreement to develop a civilian nuclear program in the kingdom, the U.S. Department of Energy announced Wednesday. The deal gives American companies a central role in building Saudi nuclear infrastructure while shutting out foreign competitors, and it could open the door to uranium enrichment on Saudi territory. The agreement is expected to be submitted to Congress for review in the coming days, but blocking it would require a joint resolution and a two-thirds majority vote to override a potential presidential veto. Saudi Arabia, which currently produces virtually all of its domestic energy from fossil fuels, insists its intentions are peaceful, though Crown Prince Mohammed bin Salman has said the kingdom would follow suit if Iran ever develops a nuclear weapon. Westinghouse Electric and its AP1000 reactor, which produces roughly 1,100 megawatts of electricity, are likely to be among the biggest beneficiaries, along with other companies such as Bechtel, BWX Technologies, and Centrus Energy.

Centrus Energy is set to join the S&P SmallCap 600 Index, reflecting its role in U.S. nuclear energy security and efforts to restore the domestic fuel supply chain. The company is expanding uranium enrichment capacity and has reached a key Department of Energy contract milestone for advanced nuclear fuel. The index inclusion may draw additional institutional and ETF interest, while investors watch how new contracts and capacity expansion translate into financial performance.

Oklo shares fell 21.8% in June even as the nuclear startup secured key approvals and partnerships. The company won a crucial Department of Energy safety approval for its Idaho National Laboratory plant, signed a memorandum of understanding with Standard Nuclear on fuel recycling, and locked a strategic partnership with Centrus Energy to supply high-assay low-enriched uranium for up to five Aurora powerhouses destined for a 1.2 GW campus supporting Meta Platforms data centers. Oklo also acquired Creative Engineers and ARMEC to strengthen reactor technology and manufacturing. The decline was driven by a broad sell-off in small modular reactor stocks after the DOE announced a $17.5 billion loan program for traditional large-scale reactors, spooking investors and triggering profit-taking in a pre-revenue company still years from commercial operations.

S&P Dow Jones Indices announced that Midera Food Processing and Centrus Energy will be added to the S&P SmallCap 600 index. Midera Food Processing will replace Redwood Trust effective before the open on July 8, following its spin-off from S&P MidCap 400 constituent The Middleby Corp. Centrus Energy will replace Whitestone REIT effective before the open on July 14, as S&P 500 constituent Ares Management Corp. acquires Whitestone REIT in a deal expected to close around that date.

Centrus Energy shares have fallen about 63% from their all-time high of $464.25 in October 2025, creating a potential buying opportunity for long-term investors. The company is the only U.S.-licensed producer of high-assay, low-enriched uranium, or HALEU, which is essential for next-generation nuclear reactors and has a market opportunity that could reach $8 billion annually by 2035. Centrus reported mixed first-quarter results with GAAP earnings per share of $0.45 missing estimates, but non-GAAP adjusted earnings per share of $1.05 beat consensus, and management raised full-year revenue guidance to between $450 million and $500 million. The company holds a $3.9 billion order backlog extending through 2040 and operates under a Department of Energy HALEU contract worth up to $900 million, de-risking its expansion. On June 19, Centrus signed an agreement to supply HALEU to Oklo for up to five Aurora powerhouses in Southern Ohio, with deliveries starting in 2029.

Centrus Energy's order backlog has swelled to $3.9 billion as of May 2026, including contingent sales, with contracts extending through 2040, providing long-term cash flow visibility. The company, the only publicly traded, deployment-ready enricher and the sole HALEU enricher in the Western world, recently signed a letter of intent with Oklo to supply high-assay low-enriched uranium for five Aurora powerhouses beginning in 2029. Centrus reported fiscal 2025 revenue of $448.7 million and gross profit of $117.5 million, with its LEU segment contributing 77% of revenue, and ended the year with a $2 billion cash buffer. Analysts have a consensus Moderate Buy rating on the stock with a mean price target of $275.08, implying 47% upside, while the most bullish target of $390 suggests a potential gain of 103.8%. The company guided for fiscal 2026 revenue of $475 million at the midpoint, representing 5.9% year-over-year growth, and sees a total addressable market for LEU in U.S. reactors of $3 billion annually, with the HALEU market projected to reach $2.8 billion per year by 2030 and $8 billion by 2035.

Oklo has signed a Letter of Intent with Centrus Energy for a multi-year supply of domestic high-assay low-enriched uranium to power up to five Aurora powerhouses, with deliveries starting in 2029. The fuel will come from Centrus's American Centrifuge Plant in Pike County, Ohio, supporting Oklo's planned 1.2 GW Clean Energy Campus in the same region. The LOI anticipates a definitive contract and could include prepayments from Oklo to Centrus, mirroring the structure of Oklo's January 2026 agreement with Meta. Centrus is funding its expansion through a previously announced $900 million HALEU task order from the US Department of Energy and private capital. Oklo also signed an MOU with Kiewit Nuclear Solutions for engineering, procurement, and construction planning for the initial Aurora deployments.

Oklo shares closed up 4% on Thursday after the company signed a letter of intent with Centrus Energy Group to supply high-assay low-enriched uranium for up to five small nuclear reactors being built in southern Ohio. The reactors, developed in partnership with Meta Platforms, will power the social media giant's data centers. Fuel deliveries are set to begin in 2029 and last for multiple years, though financial terms were not disclosed. The agreement marks a key step forward for Oklo's high-profile project with Meta.

FreeCast shares surged 170% in premarket trading after the company announced a reseller agreement for Starlink Business services, allowing it to offer enterprise satellite broadband alongside its streaming platform. Accenture tumbled more than 11% after trimming the upper end of its annual revenue growth forecast and announcing cybersecurity acquisitions including a majority stake in Dragos. Pfizer slipped 1.7% on news that CFO Dave Denton will step down in August. Oklo rose 2% after signing a letter of intent with Centrus Energy for high-assay low-enriched uranium supply starting in 2029. Novocure fell 10% after its Phase 3 TRIDENT study failed to meet the primary endpoint of improving overall survival in newly diagnosed glioblastoma.