Centrus Energy Corp. (LEU) reported a net loss of $5.0 million, or $0.30 per share, in the third quarter of 2024, missing analysts' estimates of $0.22 earnings per share. However, the company's revenue of $57.7 million surpassed expectations of $56.067 million.

The mixed results were driven by a decline in gross profit from the company's low-enriched uranium (LEU) segment due to lower sales volume, partially offset by higher-priced legacy contracts in the quarter.

Despite the earnings miss, Centrus secured significant awards from the U.S. Department of Energy (DOE) during the quarter, positioning the company for future growth. The company was selected as an awardee for high-assay low-enriched uranium (HALEU) production and deconversion contracts, with a potential value of up to $2.7 billion.

Additionally, Centrus signed $2 billion in contingent commitments from customers to support the deployment of LEU production capacity at its Piketon, Ohio facility. The company aims to capitalize on the growing demand for HALEU and LEU from advanced reactors and traditional nuclear power plants.