Solstice Advanced Materials reports third-quarter results today, with the nuclear division as the main driver of its earnings. Nuclear revenue grew 27% in the second quarter of 2026 compared with the same period of 2025, thanks to more favorable prices and higher volumes. Analysts expect earnings of $0.77 per share, versus $0.88 in the previous quarter.
The core of the business is the Metropolis plant in Illinois. In 2026 the site is expected to produce more than 10,000 tonnes of uranium hexafluoride (UF6), about 20% more than planned production for 2024. Metropolis is the only U.S. facility that converts uranium into this gaseous form, a step required before fuel enrichment. The order backlog exceeds $2 billion, according to the company.
The plant was built in the 1950s and began supplying UF6 for civilian use in the late 1960s. Following the 2023 restart, Solstice has invested in work to eliminate production bottlenecks. The company is also evaluating the construction of a second facility next to the existing one. Marketing is handled by ConverDyn, a joint venture with General Atomics, which is the exclusive agent for all UF6 produced at Metropolis.
Demand is also coming from advanced reactor developers. Hadron Energy has signed an agreement with ConverDyn for uranium conversion services, which the company says enables the first deployment of its Halo micro modular reactor and its subsequent commercial rollout. Washington is backing the supply chain: an executive order directs the Secretary of Energy to develop a plan to expand domestic uranium conversion capacity. The Department of Energy has also entered into an agreement with Solstice to share some of the costs of expanding the plant.
On the financial front, there is an activist investor involved. The fund is demanding at least $100 million in corporate cost cuts and a greater focus on refrigerants and nuclear. Investors will be watching whether nuclear prices and volumes can offset margin pressure in the company’s other segments.
For Europe and Italy, the figures matter because Solstice serves nuclear utilities in North America, Europe and Asia. With the push for new reactors and SMRs, Western conversion capacity becomes a link in the chain that needs strengthening. If Solstice confirms the second plant, the market will gain an additional source outside the traditional suppliers.
