Centrus Energy (NYSE: LEU) reported Q3 EPS of ($1.15). Revenue for the quarter came in at $50.3 million, versus $0 reported last year.

Highlights

• Gross profit of $11.6 million for the third quarter on revenue of $50.3 million
• Net loss of $8.5 million for the quarter
• Company continues to expect to generate more than 50 percent of 2017 revenue in the fourth quarter
• Cash balance of $135.9 million at September 30, 2017
• On track to achieve 2017 guidance of $200-$225 million in revenue and $150-$175 million cash balance at year end

2017 Outlook

Centrus anticipates SWU and uranium revenue in 2017 in a range of $175 million to $200 million, reflecting an expected decline in SWU and uranium volumes delivered compared to 2016. The Company anticipates total revenue in a range of $200 million to $225 million. Centrus’ revenues continue to be most heavily weighted to the fourth quarter, and the Company expects more than one-half of its annual revenue in the fourth quarter of 2017, compared to 44 percent in the fourth quarter of 2016. Centrus expects to end 2017 with a cash and cash equivalents balance in a range of $150 million to $175 million.

Centrus’ financial guidance is subject to a number of assumptions and uncertainties that could affect results either positively or negatively. Variations from the Company’s expectations could cause differences between this guidance and the ultimate results. Among the factors that could affect Centrus’ results are:

• Additional short-term purchases or sales of SWU and uranium;
• Timing of customer orders, related deliveries, and purchases of LEU or components;
• The outcome of legal proceedings and other contingencies;
• Potential use of cash for strategic initiatives;
• Actions taken by our customers, including actions that might affect our existing contracts, as a result of market and other conditions impacting our customers and the industry; and
• Additional costs for decontamination and decommissioning of the Company’s facility in Ohio.

For earnings history and earnings-related data on Centrus Energy (LEU) click here.