Shares of Centrus Energy Corp. (LEU) skyrocketed 13.67% during Thursday's trading session, closing at $4.62. The significant stock price surge came after the company reported impressive fourth quarter results and announced a major supply contract win.
For the fourth quarter, Centrus reported revenue of $151.6 million, easily surpassing the consensus estimate of $106.67 million. The company attributed the strong results to an expanded backlog and continued success in demonstrating its enrichment technology. This quarterly outperformance appears to have been a key driver behind Centrus' stock rally on Thursday.
Additionally, Centrus disclosed that it had signed a 10-year enriched uranium supply agreement with Korea Hydro & Nuclear Power (KHNP), a subsidiary of Korea Electric Power. This long-term contract is expected to provide Centrus with a stable revenue stream and further solidify its position in the global nuclear fuel market. News of this major deal likely contributed to the enthusiasm around the stock.
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