Business Context and Reporting Period
Company: Centrus Energy Corp.
Filing Type: Form 8-K (Current Report)
Reporting Date: June 30, 2026
Event: Entry into a Material Definitive Agreement with the U.S. Department of Energy (DOE).
Key Financial Metrics
This filing reports on a specific contract agreement rather than periodic financial performance. Consequently, standard metrics such as revenue, profit, cash flow, margins, debt, and liquidity are not disclosed in this document.
| Contract Component | Value |
|---|---|
| Firm Fixed Price (Base Contract) | $900 million |
| Option 1 Price (5 MTU) | $85 million ($17 million per MTU) |
| Option 2 Price (5 MTU) | $85 million ($17 million per MTU) |
Material Changes and Contract Details
On June 30, 2026, American Centrifuge Operating, LLC (ACO), a wholly owned subsidiary of Centrus, signed a contract with the DOE to establish new domestic commercial High-Assay, Low-Enriched Uranium (HALEU) enrichment capacity at its Piketon, Ohio facility.
- Scope: Deploy specified enrichment capacity and deliver one metric ton of uranium (MTU) enriched as HALEU UF6 to a nominal 19.75 weight percent of 235 U.
- Timeline: Delivery required by March 2032.
- Payment Structure: Incremental performance-based milestone payments.
- Options: The DOE holds first and second options, exercisable at its sole discretion, for an additional 5 MTU each over a maximum twelve-month period.
- Asset Ownership: Upon completion of obligations, ACO will obtain title to the deployed enrichment capacity.
Guidance, Outlook, and Risks
Management Commentary: The company issued a press release on July 1, 2026, regarding this contract and other DOE-related matters. The contract is executed under an indefinite delivery-indefinite quantity framework established in 2024.
Risks and Contingencies:
- The contract includes options exercisable solely at the DOE's discretion; revenue from these options is not guaranteed.
- Payments are contingent upon meeting performance milestones.
- The full text of the contract is not included in this filing and is expected to be filed as an exhibit to the next Form 10-Q.
Investor Verification Checklist
- Verify the specific performance milestones required to trigger the $900 million in payments.
- Monitor the next Form 10-Q for the full text of the contract to review termination clauses and liability caps.
- Assess the likelihood of the DOE exercising the two $85 million options based on future market demand for HALEU.
- Confirm the timeline for the deployment of capacity in Piketon, Ohio, relative to the March 2032 delivery deadline.