Centrus Has Tumbled From All-Time Highs in October. Here's What's Next.
Centrus Energy has completed a key delivery of high-assay, low-enriched uranium (HALEU) to the US Department of Energy (DOE). The company handed over 900 kilograms of the material in late June 2025, marking the end of Phase II in its DOE contract. Meanwhile, its stock price has seen sharp swings this year, dropping roughly 50% from a peak in October.
The Maryland-based firm began 2025 with shares trading near $74. By mid-October, the price had surged to around $464—a 527% increase—before falling back to half that value in recent weeks.
In June, Centrus fulfilled its Phase II commitment by delivering the HALEU shipment. The DOE contract has now progressed to Phase III, which requires another 900-kilogram delivery and includes options for further production beyond 2026.
Rather than constructing new enrichment plants, the company is expanding capacity at existing sites. In December 2025, it announced upgrades to infrastructure at its Piketon, Ohio, facility. Additional centrifuge manufacturing and production support will come from an expanded operation in Oak Ridge, Tennessee. Hiring is underway in both states.
Financially, Centrus reported a profit of about $4 million on $75 million in revenue for the third quarter of 2025.
The company’s next steps include delivering more HALEU under Phase III of the DOE agreement. Expansion work at Piketon and Oak Ridge will increase production capability. Stock performance, however, remains volatile after the steep decline from October’s high.
