- 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
BETHESDA, Md.--(BUSINESS WIRE)--Nov. 9, 2017--
Centrus Energy Corp. (NYSE American: LEU) today reported a net loss of
$8.5 million for the quarter ended September 30, 2017, compared to a net
loss of $41.3 million for the third quarter of 2016. The net loss
allocable to common stockholders was $10.5 million, or $1.15 per basic
and diluted share, for the quarter ended September 30, 2017, compared to
a net loss allocable to common stockholders of $41.3 million, or $4.54
per basic and diluted share, for the third quarter of 2016.
“We have been executing on our plans to diversify and expand our
business, and the past quarter demonstrated our success in multiple
areas,” said Daniel Poneman. “With new contracts for our nuclear fuel
business, an extension of our work on U.S. uranium enrichment
technology, and our expansion into the advanced reactor sector through
our new partnership with X-energy, Centrus is building on our tradition
as a trusted long-term partner to the nuclear industry.”
Revenue and Cost of Sales
Revenue for the third quarter was $50.3 million, an increase of $28.9
million, or 135 percent, over the same period in 2016. Revenue in the
nine-month period was $101.5 million, a decrease of $73.3 million, or 42
percent, from the period in 2016. Revenue from the LEU segment increased
$29.4 million, or 209 percent, in the three months and declined $60.4
million, or 42 percent, in the nine months ended September 30, 2017,
compared to the corresponding periods in 2016. The quarter to quarter
variance reflects the particular contracts under which SWU were sold
during the periods. Centrus expects more than one-half of its annual
revenue in the fourth quarter of 2017. The Company expects SWU volumes
delivered will decline in 2017 compared to 2016. Centrus expects the
average SWU price for sales during the full year 2017 will be
approximately 3 percent lower than in 2016.
Revenue from the contract services segment declined $0.5 million, or 7
percent, in the three months ended September 30, 2017, compared to the
corresponding period in 2016, reflecting the reduced scope of contract
work for American Centrifuge technology services in the current period.
Revenue from the contract services segment declined $12.9 million, or 40
percent, in the nine months ended September 30, 2017, compared to the
corresponding period in 2016, due to the reduced scope of work and the
timing of revenue recognition in the prior period. As a result of the
contract signed with UT-Battelle in March 2016, revenue in the nine
months ended September 30, 2016, included $24.2 million for work in the
nine months ended September 30, 2016, as well as $8.1 million for March
2016 reports on work performed in the fourth quarter of 2015.
Cost of sales for the LEU segment increased $16.5 million, or 104
percent, in the three months and declined $53.9 million, or 41 percent,
in the nine months ended September 30, 2017, compared to the
corresponding periods in 2016, primarily due to the changes in SWU sales
volumes noted above and declines in the average cost of sales per SWU.
Cost of sales is affected by sales volumes, unit costs of inventory, and
direct charges to cost of sales such as inventory valuation adjustments
and legacy costs related to former GDP employees and other residual
costs related to the Paducah GDP. Cost of sales for the contract
services segment declined $1.3 million, or 17 percent, in the three
months and $5.0 million, or 20 percent, in the nine months ended
September 30, 2017, compared to the corresponding periods in 2016, due
to the reduced scope of contract work.
Gross Profit
Centrus realized a gross profit of $11.6 million in the three months
ended September 30, 2017, an increase of $13.7 million compared to the
gross loss of $2.1 million in the corresponding period in 2016. The
Company realized an increase in gross profit of $12.9 million for the
LEU segment primarily due to increases in the average SWU sales price
and SWU sales volume, and a decline in the average SWU cost.
Centrus realized a gross profit of $4.8 million in the nine months ended
September 30, 2017, a decline of $14.4 million compared to the gross
profit of $19.2 million in the corresponding period in 2016. The Company
realized a decline in gross profit of $6.5 million for the LEU segment
primarily due to a decline in the average SWU sales price and the
decline in SWU sales volume for the nine months compared to the prior
period, partially offset by a decline in the average SWU cost.
Centrus realized a decline in gross profit of $7.9 million for the
contract services segment in the nine months ended September 30, 2017,
compared to the corresponding period in 2016. In the prior period, gross
profit included $8.1 million in revenue for March 2016 reports on work
performed in the fourth quarter of 2015. Related costs were expensed in
2015 as they were incurred before a contract was in place. The Company
realized a gross loss of $0.6 million for the contract services segment
in the nine months ended September 30, 2017, due to costs incurred that
are not fully recoverable from the revenue under the contract with
UT-Battelle.
Advanced Technology License and Decommissioning Costs
Advanced technology license and decommissioning costs consist of
American Centrifuge expenses that are outside of our contracts with
UT-Battelle, including ongoing costs to maintain the demobilized Piketon
facility and our NRC licenses at that location. Costs declined $17.4
million, or 79 percent, in the three months ended September 30, 2017,
compared to the corresponding period in 2016. The prior period included
a $15.0 million charge to increase the accrued D&D liability for the
Piketon demonstration facility based on updated cost estimates. Costs
declined $23.6 million, or 61 percent, in the nine months ended
September 30, 2017, compared to the corresponding period in 2016, due to
the $15.0 million increase in the D&D liability in the prior period and
demobilization costs incurred in early 2016 in preparation for the D&D
of the Piketon facility. D&D costs commenced in the second quarter of
2016 and are charged against the D&D liability. The D&D work is expected
to be substantially completed by year-end. As of September 30, 2017,
Centrus has accrued $16.6 million on the balance sheet as Decontamination
and Decommissioning Obligations for the estimated fair value of the
remaining costs to complete the D&D work.
SG&A and Special Charges
Selling, general and administrative (SG&A) expenses increased $0.3
million, or 3 percent, in the three months and declined $1.5 million, or
4 percent, in the nine months ended September 30, 2017, compared to the
corresponding periods in 2016. Consulting costs declined $0.3 million in
the three-month period and $1.4 million in the nine-month period.
Compensation and benefit costs were flat in the three-month period and
declined $0.3 million in the nine-month period ended September 30, 2017,
including the effect of an $0.8 million loss in the prior period related
to the remeasurement of pension obligations.
Special charges in the nine months ended September 30, 2017, included
estimated employee termination benefits of $2.3 million, including $0.7
million in the third quarter, less $0.2 million for unvested employee
departures. Advisory costs related to the Company’s project to align its
corporate structure to the scale of its ongoing business operations and
to update related information technology were $1.7 million and $5.0
million in the three and nine months ended September 30, 2017,
respectively, compared to $0.3 million and $0.8 million in the
corresponding periods of 2016.
Cash Flow
Centrus ended the third quarter of 2017 with a consolidated cash balance
of $135.9 million. The net reduction of $42.3 million in the SWU
purchase payables balance, due to the timing of purchase deliveries, was
a significant use of cash in the nine months ended September 30, 2017.
Other major uses of cash were corporate costs including benefits funding
and costs for D&D of the American Centrifuge demonstration cascade.
Sources of cash included the monetization of inventory as inventories
declined $17.9 million in the nine-month period and receivables from
utility customers declined $6.2 million.
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.
About Centrus Energy Corp.
Centrus Energy is a trusted supplier of enriched uranium fuel for
commercial nuclear power plants in the United States and around the
world. With world-class technical and engineering capabilities, Centrus
is 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 - that is,
statements related to future events. In this context, forward-looking
statements 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 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 outstanding 8.0% paid-in-kind
(“PIK”) toggle notes (the “8% PIK Toggle Notes”) maturing in September
2019, our 8.25% notes maturing in February 2027 and our Series B Senior
Preferred, including the potential termination of the guarantee by
United States Enrichment Corporation of the 8% PIK Toggle Notes; risks
related to the limited trading markets in our securities; risks related
to our ability to maintain the listing of our Class A Common Stock on
the NYSE American; 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 related
to the use of our net operating losses (“NOLs”) 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 and our
ability to generate taxable income to utilize all or a portion of the
NOLs and NUBILs prior to the expiration thereof; 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; the impact and
potential extended duration of the current supply/demand imbalance in
the market for low-enriched uranium (“LEU”); our dependence on others fordeliveries of LEU including deliveries from the Russian government
entity Joint Stock Company “TENEX” (“TENEX”) under a commercial supply
agreement with TENEX (the “Russian Supply Agreement”); risks related to
our ability to sell the LEU we procure pursuant to our purchase
obligations under our supply agreements, including the Russian Supply
Agreement; risks relating to our sales order book, including uncertainty
concerning customer actions under current contracts and in future
contracting due to market conditions and lack of current production
capability; risks related to the value of our intangible assets related
to the sales order book and customer relationships; risks associated
with our reliance on third-party suppliers to provide essential services
to us; pricing trends and demand in the uranium and enrichment markets
and their impact on our profitability; movement and timing of customer
orders; risks related to trade barriers and contract terms that limit
our ability to deliver LEU to customers; risks related to actions that
may be taken by the U.S. government, the Russian government or other
governments that could affect our ability or the ability of our sources
of supply to perform under their contract obligations to us, including
the imposition of sanctions, restrictions or other requirements; the
impact of government regulation including by the U.S. Department of
Energy and the U.S. Nuclear Regulatory Commission; uncertainty regarding
our ability to commercially deploy competitive enrichment technology;
risks and uncertainties regarding funding for the American Centrifuge
project and our ability to perform under our agreement with UT-Battelle,
LLC, the management and operating contractor for Oak Ridge National
Laboratory, for continued research and development of the American
Centrifuge technology; the potential for further demobilization or
termination of the American Centrifuge project; risks related to the
current demobilization of portions of the American Centrifuge project,
including risks that the schedule could be delayed and costs could be
higher than expected; potential strategic transactions, which could be
difficult to implement, disrupt our business or change our business
profile significantly; the outcome of legal proceedings and other
contingencies (including lawsuits and government investigations or
audits); the competitive environment for our products and services;
changes in the nuclear energy industry; the impact of financial market
conditions on our business, liquidity, prospects, pension assets and
insurance facilities; revenue and operating results can fluctuate
significantly from quarter to quarter, and in some cases, year to year;
and other risks and uncertainties discussed in this and our other
filings with the Securities and Exchange Commission, including our
Annual Report on Form 10-K for the year ended December 31, 2016.
|
|
|
CENTRUS ENERGY CORP.
|
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
|
|
(in millions, except share and per share data)
|
|
|
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
|
2017 |
|
2016 |
|
2017 |
|
2016 |
| Revenue: |
|
|
|
|
|
|
|
|
|
Separative work units
|
|
$
|
43.5
|
|
|
$
|
14.1
|
|
|
$
|
82.2
|
|
|
$
|
128.3
|
|
|
Uranium
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
14.3
|
|
|
Contract services
|
|
|
6.8
|
|
|
|
7.3
|
|
|
|
19.3
|
|
|
|
32.2
|
|
|
Total revenue
|
|
|
50.3
|
|
|
|
21.4
|
|
|
|
101.5
|
|
|
|
174.8
|
|
| Cost of Sales: |
|
|
|
|
|
|
|
|
|
Separative work units and uranium
|
|
|
32.4
|
|
|
|
15.9
|
|
|
|
76.8
|
|
|
|
130.7
|
|
|
Contract services
|
|
|
6.3
|
|
|
|
7.6
|
|
|
|
19.9
|
|
|
|
24.9
|
|
|
Total cost of sales
|
|
|
38.7
|
|
|
|
23.5
|
|
|
|
96.7
|
|
|
|
155.6
|
|
| Gross profit (loss) |
|
|
11.6
|
|
|
|
(2.1
|
)
|
|
|
4.8
|
|
|
|
19.2
|
|
|
Advanced technology license and decommissioning costs
|
|
|
4.5
|
|
|
|
21.9
|
|
|
|
15.0
|
|
|
|
38.6
|
|
|
Selling, general and administrative
|
|
|
11.0
|
|
|
|
10.7
|
|
|
|
33.1
|
|
|
|
34.6
|
|
|
Amortization of intangible assets
|
|
|
2.5
|
|
|
|
1.7
|
|
|
|
5.7
|
|
|
|
7.6
|
|
|
Special charges for workforce reductions and advisory costs
|
|
|
2.4
|
|
|
|
0.6
|
|
|
|
7.1
|
|
|
|
1.2
|
|
|
Gains on sales of assets
|
|
|
(0.6
|
)
|
|
|
(0.3
|
)
|
|
|
(2.3
|
)
|
|
|
(1.0
|
)
|
|
Operating loss
|
|
|
(8.2
|
)
|
|
|
(36.7
|
)
|
|
|
(53.8
|
)
|
|
|
(61.8
|
)
|
|
Gain on early extinguishment of debt
|
|
|
—
|
|
|
|
—
|
|
|
|
(33.6
|
)
|
|
|
(16.7
|
)
|
|
Interest expense
|
|
|
0.7
|
|
|
|
4.7
|
|
|
|
4.3
|
|
|
|
14.8
|
|
|
Investment income
|
|
|
(0.4
|
)
|
|
|
(0.1
|
)
|
|
|
(1.0
|
)
|
|
|
(0.5
|
)
|
|
Loss before income taxes
|
|
|
(8.5
|
)
|
|
|
(41.3
|
)
|
|
|
(23.5
|
)
|
|
|
(59.4
|
)
|
|
Income tax benefit
|
|
|
—
|
|
|
|
—
|
|
|
|
(0.2
|
)
|
|
|
(0.6
|
)
|
| Net loss |
|
|
(8.5 |
) |
|
|
(41.3 |
) |
|
|
(23.3 |
) |
|
|
(58.8 |
) |
|
Preferred stock dividends - undeclared and cumulative
|
|
|
2.0
|
|
|
|
—
|
|
|
|
5.0
|
|
|
|
—
|
|
| Net loss allocable to common stockholders |
|
$ |
(10.5 |
) |
|
$ |
(41.3 |
) |
|
$ |
(28.3 |
) |
|
$ |
(58.8 |
) |
|
|
|
|
|
|
|
|
|
|
Net loss per common share – basic and diluted
|
|
$
|
(1.15
|
)
|
|
$
|
(4.54
|
)
|
|
$
|
(3.12
|
)
|
|
$
|
(6.46
|
)
|
|
Average number of common shares outstanding – basic and diluted (in
thousands)
|
|
|
9,103
|
|
|
|
9,096
|
|
|
|
9,081
|
|
|
|
9,102
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CENTRUS ENERGY CORP.
|
|
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
|
|
(in millions, except share and per share data)
|
|
|
|
|
September 30,
2017 |
|
December 31,
2016 |
| ASSETS |
|
|
|
|
| Current assets |
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
135.9
|
|
|
$
|
260.7
|
|
|
Accounts receivable
|
|
|
14.2
|
|
|
|
19.9
|
|
|
Inventories
|
|
|
124.1
|
|
|
|
177.4
|
|
|
Deferred costs associated with deferred revenue
|
|
|
94.5
|
|
|
|
89.3
|
|
|
Other current assets
|
|
|
15.6
|
|
|
|
13.3
|
|
| Total current assets |
|
|
384.3
|
|
|
|
560.6
|
|
|
Property, plant and equipment, net
|
|
|
5.2
|
|
|
|
6.0
|
|
|
Deposits for surety bonds
|
|
|
29.6
|
|
|
|
29.5
|
|
|
Intangible assets, net
|
|
|
87.6
|
|
|
|
93.3
|
|
|
Other long-term assets
|
|
|
15.2
|
|
|
|
24.1
|
|
| Total assets |
|
$ |
521.9 |
|
|
$ |
713.5 |
|
|
|
|
|
|
| LIABILITIES AND STOCKHOLDERS’ DEFICIT |
|
|
|
|
| Current liabilities |
|
|
|
|
|
Accounts payable and accrued liabilities
|
|
$
|
50.7
|
|
|
$
|
46.4
|
|
|
Payables under SWU purchase agreements
|
|
|
17.3
|
|
|
|
59.6
|
|
|
Inventories owed to customers and suppliers
|
|
|
22.1
|
|
|
|
57.5
|
|
|
Deferred revenue
|
|
|
131.7
|
|
|
|
123.6
|
|
|
Decontamination and decommissioning obligations
|
|
|
16.6
|
|
|
|
38.6
|
|
| Total current liabilities |
|
|
238.4
|
|
|
|
325.7
|
|
|
Long-term debt
|
|
|
157.5
|
|
|
|
234.1
|
|
|
Postretirement health and life benefit obligations
|
|
|
170.0
|
|
|
|
171.3
|
|
|
Pension benefit liabilities
|
|
|
175.0
|
|
|
|
179.9
|
|
|
Other long-term liabilities
|
|
|
35.6
|
|
|
|
38.6
|
|
| Total liabilities |
|
|
776.5
|
|
|
|
949.6
|
|
| 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, 7.5% cumulative, 104,574 shares
issued and outstanding and an aggregate liquidation preference of
$109.6 million as of September 30, 2017
|
|
|
4.6
|
|
|
|
—
|
|
|
Class A Common Stock, par value $0.10 per share, 70,000,000 shares
authorized, 7,632,669 and 7,563,600 shares issued and outstanding as
of September 30, 2017 and December 31, 2016
|
|
|
0.8
|
|
|
|
0.8
|
|
|
Class B Common Stock, par value $0.10 per share, 30,000,000 shares
authorized, 1,406,082 and 1,436,400 shares issued and outstanding as
of September 30, 2017 and December 31, 2016
|
|
|
0.1
|
|
|
|
0.1
|
|
|
Excess of capital over par value
|
|
|
59.8
|
|
|
|
59.5
|
|
|
Accumulated deficit
|
|
|
(320.0
|
)
|
|
|
(296.7
|
)
|
|
Accumulated other comprehensive income, net of tax
|
|
|
0.1
|
|
|
|
0.2
|
|
| Total stockholders’ deficit |
|
|
(254.6
|
)
|
|
|
(236.1
|
)
|
| Total liabilities and stockholders’ deficit |
|
$ |
521.9 |
|
|
$ |
713.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
CENTRUS ENERGY CORP.
|
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
|
|
(in millions)
|
|
|
|
|
Nine Months Ended
September 30, |
|
|
2017 |
|
2016 |
| Operating Activities |
|
|
|
|
|
Net loss
|
|
$
|
(23.3
|
)
|
|
$
|
(58.8
|
)
|
|
Adjustments to reconcile net loss to cash used in operating
activities:
|
|
|
|
|
|
Depreciation and amortization
|
|
|
6.6
|
|
|
|
8.1
|
|
|
PIK interest on paid-in-kind toggle notes
|
|
|
1.2
|
|
|
|
9.7
|
|
|
Gain on early extinguishment of debt
|
|
|
(33.6
|
)
|
|
|
(16.7
|
)
|
|
Gain on sales of assets
|
|
|
(2.3
|
)
|
|
|
(1.0
|
)
|
|
Inventory valuation adjustments
|
|
|
—
|
|
|
|
3.0
|
|
|
Changes in operating assets and liabilities:
|
|
|
|
|
|
Accounts receivable
|
|
|
14.5
|
|
|
|
18.4
|
|
|
Inventories, net
|
|
|
17.9
|
|
|
|
45.8
|
|
|
Payables under SWU purchase agreements
|
|
|
(42.3
|
)
|
|
|
(68.9
|
)
|
|
Deferred revenue, net of deferred costs
|
|
|
2.9
|
|
|
|
5.8
|
|
|
Accounts payable and other liabilities
|
|
|
(35.3
|
)
|
|
|
2.2
|
|
|
Other, net
|
|
|
(1.9
|
)
|
|
|
0.5
|
|
|
Cash used in operating activities
|
|
|
(95.6
|
)
|
|
|
(51.9
|
)
|
|
|
|
|
|
| Investing Activities |
|
|
|
|
|
Capital expenditures
|
|
|
(0.3
|
)
|
|
|
(3.0
|
)
|
|
Proceeds from sales of assets
|
|
|
2.1
|
|
|
|
1.2
|
|
|
Deposits for surety bonds - net decrease
|
|
|
—
|
|
|
|
0.3
|
|
|
Cash provided by (used in) investing activities
|
|
|
1.8
|
|
|
|
(1.5
|
)
|
|
|
|
|
|
| Financing Activities |
|
|
|
|
|
Payment of interest classified as debt
|
|
|
(3.4
|
)
|
|
|
—
|
|
|
Repurchase of debt
|
|
|
(27.6
|
)
|
|
|
(9.8
|
)
|
|
Cash used in financing activities
|
|
|
(31.0
|
)
|
|
|
(9.8
|
)
|
|
|
|
|
|
|
Decrease in cash and cash equivalents
|
|
|
(124.8
|
)
|
|
|
(63.2
|
)
|
|
Cash and cash equivalents at beginning of period
|
|
|
260.7
|
|
|
|
234.0
|
|
|
Cash and cash equivalents at end of period
|
|
$ |
135.9 |
|
|
$ |
170.8 |
|
|
|
|
|
|
|
Supplemental cash flow information:
|
|
|
|
|
|
Interest paid in cash
|
|
$
|
4.2
|
|
|
$
|
6.5
|
|
|
Non-cash activities:
|
|
|
|
|
|
Conversion of interest payable-in-kind to long-term debt
|
|
$
|
0.4
|
|
|
$
|
3.4
|
|
|
|
|
|
|
|
|
|
|
View source version on businesswire.com: http://www.businesswire.com/news/home/20171109006637/en/
Source: Centrus Energy Corp.
Centrus Energy Corp.
Investors:
Don Hatcher, 301-564-3460
or
Media:
Jeremy
Derryberry, 301-564-3392
