Fluor Corporation announced that it will serve as the engineering, procurement, and construction (EPC) contractor for Centrus Energy’s expansion of its uranium enrichment capacity in Piketon, Ohio. The multi‑billion‑dollar contract will increase Centrus’s low‑enriched uranium output and is part of a broader U.S. effort to rebuild domestic nuclear fuel supply and reduce reliance on foreign sources, especially Russia.
The deal aligns with Fluor’s strategy to shift toward high‑margin, reimbursable work in its Energy Solutions and Urban Solutions segments. Fluor’s Energy Solutions segment experienced cost growth and reduced productivity on late‑stage projects in 2024, while its Urban Solutions segment grew strongly. The new contract is expected to add a long‑term revenue stream and support the company’s transition to complex, high‑value projects.
Centrus Energy’s backlog for commercial low‑enriched uranium enrichment stands at $2.3 billion, and the company recently secured a $900 million Department of Energy HALEU task order. The Fluor contract is a key component of Centrus’s expansion plan and underscores the strategic importance of domestic nuclear fuel production.
Management emphasized the partnership’s significance. Fluor Business Group President Al Collins said the project is “a profound contribution to energy security and national security.” The contract is projected to generate significant revenue over the next several years, but Fluor will face supply‑chain and regulatory challenges typical of large‑scale nuclear construction.
Investors focused on Centrus’s fourth‑quarter earnings miss and lower revenue guidance for FY 2026, which outweighed the positive news of the Fluor partnership.
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