Uranium miner Centrus Energy soared Thursday after reporting better-than-expected first quarter profit and sales amid plans to capitalize on billions of federal dollars for domestic nuclear fuel production.
Centrus Energy stock surged more than 23% during stock market action Thursday. The Bethesda, Md.-based company announced late Wednesday Q1 EPS of $1.60, up from a 38 cent per share loss a year ago, and revenue totaling $73.1 million, up 67% compared with a year ago. Ahead of Thursday's release, analysts expected a first quarter loss of 1 cent per share and sales coming in at $68.1 million, according to FactSet.
"Our operations have not been impacted by tariffs, and we are well positioned to execute on our expansion plans once federal funding decisions are made. We are confident in our compelling investment case for the $3.4 billion in funding that Congress has provided to jump-start domestic nuclear fuel production," Chief Executive Amir Vexler said in the earnings release Wednesday.
"Our continuous, reliable, and safe enrichment operations for the government, along with our track record of achieving milestones on schedule and on budget, provide us with the confidence to restore America's ability to enrich uranium at scale," Vexler added.
Centrus Energy ended the quarter with a backlog worth $3.8 billion.
In 2023, The Department of Energy was given $3.4 billion to shore up domestic enriched uranium supply. This came amid concern around U.S. reliance on Russian enriched uranium after the invasion of Ukraine. The U.S. has relied on Russia for about 25% of fuel for its nuclear reactors.
Uranium Stocks
Centrus Energy stock entered Thursday's stock market open up about 21% in the 2025 stock market. However, it is down 34% from its 2025 high of 122.95 from Feb. 12.
Meanwhile, uranium refiner Cameco fell 1% during Thursday's stock market trade. Cathie Wood and her Ark Invest funds repeatedly purchased Cameco in early 2025.
Saskatchewan, Canada-based Cameco is one of the world's largest providers of uranium. Utilities around the globe rely on the company to provide nuclear fuel. The company also has direct exposure to small modular reactor, or SMR, technology through its shared ownership of Westinghouse.
Centrus Energy has a 67 Composite Rating out of a best-possible 99. The uranium stock also has a 91 Relative Strength Rating and a 20 EPS Rating.
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