Centrus Energy Corp. (NYSE:LEU) Q2 2023 Earnings Call Transcript August 4, 2023 8:30 AM ET

Company Participants

Dan Leistikow - Vice President of Corporate Communications

Dan Poneman - CEO, President and Director

Philip Strawbridge - Senior VP, CFO, Chief Administrative Officer and Treasurer

Kevin Harrill - Controller and Chief Accounting Officer

Conference Call Participants

Rob Brown - Lake Street Capital Markets

Joseph Reagor - The ROTH MKM

Operator

Greetings, and welcome to Centrus Energy Second Quarter 2023 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Dan Leistikow, Vice President, Corporate Communications. Thank you, Mr. Lestikof, you may begin.

Dan Leistikow

Good morning. Thanks for joining us. Today's call will cover the results for the second quarter of 2023 ended June 30. Today, we have Dan Poneman, President and Chief Executive Officer; Philip Strawbridge, Chief Financial Officer; and Kevin Harrill, Controller and Chief Accounting Officer.

Before turning the call over to Dan Poneman, I'd like to welcome all of our callers as well as those listening to our webcast. This conference call follows our earnings news release issued yesterday. We expect to file our report for the second quarter of 2023 on Form 10-Q later today. All of our news releases and SEC filings, including our 10-K, 10-Qs and 8-Ks are available on our website.

A replay of this call will also be available later this morning on the Centrus website. I'd like to remind everyone that certain information we may discuss on this call may be considered forward-looking information that involves risk and uncertainty, including assumptions about the future performance of Centrus. Our actual results may differ materially from those in our forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in our forward-looking statements is contained in our filings with the SEC including our annual report on Form 10-K and quarterly reports on Form 10-Q.

Finally, the forward-looking information provided today is time sensitive and accurate only as of today, August 4, 2023, unless otherwise noted. This call is the property of Centrus Energy. Any transcription, redistribution, retransmission or rebroadcast of the call in any form without the express written consent Centrus is strictly prohibited. Thanks for your participation.

I'll now turn the call over to Dan Poneman.

Dan Poneman

Thank you, Dan. And thank you to everyone on the call today. This was another strong, productive and profitable quarter for Centrus, booking $12.7 million in net income and $98.4 million in revenue. This includes $39.5 million in uranium sales driven by the continued rise in natural uranium prices as global supply remains constrained. So far this year, we've delivered $146.4 million worth of enrichment and natural uranium in our LEU segment, while continuing to refill our pipeline with new orders, thus maintaining the value of our order book at $1 billion through 2030.