Centrus Energy Corp. (NYSE MKT:LEU) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 08:30 am ET


Centrus Energy Corp. (NYSE MKT:LEU) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Centrus Energy Second Quarter 2020 Earnings Call.

[Operator Instructions]

It is now my pleasure to introduce your host, Dan Leistikow. Please go ahead, sir.

Dan Leistikow

Good morning. Thank you for joining us. Today's call will cover the results for the second quarter 2020 ended June 30. Here today for the call are Dan Poneman, President and Chief Executive Officer; Philip Strawbridge, Senior Vice President, Chief Financial Officer, Chief Administrative Officer and Treasurer; and John Dorrian, 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 quarterly report 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 of the information we may discuss on this call today 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 is accurate only as of today, August 5, 2020, 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 expressed written consent of Centrus is strictly prohibited. Thank you for your participation, and I will now turn the call over to Dan Poneman.

Daniel B. Poneman

Thank you, Dan, and thank you to everyone on the call today. As we discussed on our last call, even as the COVID-19 pandemic has strained the broader economy, Centrus is fortunate that the vast majority of our revenue is tied to stable long-term contracts with large entities like electrical utilities and the US government. We have not had any interruptions in our nuclear fuel deliveries to our customers in the United States and around the world, and we expect that we'll continue making those deliveries as planned in the months and years ahead. The health and safety of our employees is our highest priority. So we are taking all necessary steps to protect them, including through extensive telework wherever possible. A portion of our workforce at our secure facilities in Tennessee and Ohio are unable to telework. So we have implemented temperature checks, strict social distancing measures, mask requirements when in close proximity and increased deep cleaning to protect those employees. We also recognize that expanded telework requires us to take additional measures to protect against potential vulnerabilities in our systems