Centrus Energy Corp (NYSE American: LEU) is a nuclear fuel supply company that provides enriched uranium products and services to nuclear power plant operators. It makes money by selling low-enriched uranium (LEU) sourced through supplier contracts, and by performing work under government contracts related to the production of high-assay low-enriched uranium (HALEU) at its Piketon, Ohio facility. Centrus operates through two reported segments: the LEU segment, which covers commercial uranium enrichment product sales, and the Technical Solutions segment, which covers government-contracted work including HALEU demonstration and production activities. The company is headquartered in Bethesda, Maryland and traces its origins to United States Enrichment Corporation (Enrichment Corp.), a government corporation privatized in July 1998. Key operating locations include a Technology and Manufacturing Center in Oak Ridge, Tennessee and the production facility in Piketon, Ohio. Centrus carries convertible debt obligations including 2.25% Convertible Senior Notes maturing November 2030 and 0% Convertible Senior Notes maturing August 2032.

Revenue model

Transactional product sales of low-enriched uranium to utility customers, plus government contract revenue for HALEU production and technical services work under contracts with the U.S. Department of Energy.

Products and services

Low-enriched uranium (LEU) for commercial nuclear power plants; high-assay low-enriched uranium (HALEU) produced at the Piketon, Ohio demonstration cascade; technical and manufacturing services under DOE contracts.

Customers and end markets

Nuclear power plant operators (utility customers) for LEU; U.S. Department of Energy for HALEU and technical solutions work.

Value-chain role

Uranium enrichment product supplier and government contractor sitting between uranium suppliers and nuclear power plant operators; does not mine uranium but sources it through supplier contracts.

Geographic exposure

United States operations, with facilities in Piketon, Ohio; Oak Ridge, Tennessee; and formerly operated plants at Paducah, Kentucky and Portsmouth, Ohio. Headquartered in Bethesda, Maryland.

Source: SEC 10-K, filed 2026-02-11

Industry: Mining & Quarrying of Nonmetallic Minerals (No Fuels) Peers: Alliance Resource Partners LP ARCH RESOURCES, INC. Core Natural Resources Inc Energy Fuels Inc Enviva, LLC Natural Resource Partners LP NACCO Industries Inc Uranium Energy Corp