v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting, Revenue [Abstract]  
Segment Information SEGMENT INFORMATION
Gross profit is the Company’s measure for segment reporting. Total revenues for each of the Company’s business segments in the following tables exclude intersegment sales as these activities are eliminated in consolidation and thus are not included in management’s evaluation of performance of each segment. Sales between segments are recorded as if the sales were to third parties, that is, at contractual or market prices at the time of the sale. Such intercompany operating income is eliminated in consolidation, so that the Company’s total sales and total operating income reflect only those transactions with external customers. Refer to Note 2, Revenue and Contracts with Customers, for additional details on revenue for each segment. The following table presents the Company’s segment information (in millions):
 Three Months Ended 
 March 31,
20262025
Revenue
LEU segment:
Separative work units$41.6 $51.3 
Uranium3.0 — 
Intersegment revenue, eliminated on consolidation
6.8 — 
Total51.4 51.3 
Technical Solutions segment32.1 21.8 
Total83.5 73.1 
Elimination of intersegment revenue
(6.8)— 
Total revenue$76.7 $73.1 
Cost of Sales
LEU segment:
Separative work units and uranium
$16.7 $20.1 
Intersegment cost of sales, eliminated on consolidation
4.6 — 
Total21.3 20.1 
Technical Solutions segment
28.5 20.1 
Total49.8 40.2 
Elimination of intersegment cost of sales
(4.6)— 
Total cost of sales$45.2 $40.2 
Segment Gross Profit
LEU segment:
LEU segment$27.9 $31.2 
Intersegment gross profit (loss), eliminated on consolidation
2.2 — 
Total
30.1 31.2 
Technical Solutions segment:
Technical Solutions
3.6 1.7 
Total
3.6 1.7 
Elimination of intersegment gross profit (loss)
(2.2)— 
Gross profit
$31.5 $32.9 
Reconciliation to Income before income taxes
Advanced technology costs$18.9 $3.0 
Selling, general and administrative10.0 8.3 
Amortization of intangible assets1.8 1.1 
Nonoperating components of net periodic benefit loss1.0 0.9 
Interest expense4.0 3.4 
Investment income(17.0)(7.3)
Extinguishment of long-term debt— (11.8)
Other expense, net0.3 0.1 
Income before income taxes$12.5 $35.2 
The Company’s total assets are not presented for each reportable segment as they are not reviewed by, nor otherwise regularly provided to the chief operating decision maker (“CODM”), the CEO. The CODM uses revenue, cost of sales and gross profit to allocate resources (including personnel and financial or capital resources) for each segment, predominantly in the annual budget and quarterly financial review and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis using revenue, cost of sales and gross profit when making decisions about allocating capital and personnel to the segments. Centrus’ long-term or long-lived assets, which include property, plant and equipment and other assets reported on the Condensed Consolidated Balance Sheet, were located in the United States as of March 31, 2026 and December 31, 2025.

Revenue from Major Customers (10% or More of Total Revenue)

In the three months ended March 31, 2026, three customers in the LEU segment individually represented $18.5 million, $14.2 million, and $8.8 million of revenue, respectively. One customer in the Technical Solutions segment individually represented $31.5 million of revenue in the three months ended March 31, 2026.
In the three months ended March 31, 2025, one customer in the LEU segment individually represented $47.6 million of revenue and one customer in the Technical Solutions segment individually represented $21.7 million of revenue.