It has been about a month since the last earnings report for Cleveland-Cliffs (CLF) . Shares have lost about 21.9% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Cleveland-Cliffs due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Cleveland-Cliffs’ Q2 Earnings Top ...

Cleveland-Cliffs Inc. (CLF) has stated that its employees, represented by the United Auto Workers ("UAW") Local 600, approved a four-year labor deal for its Dearborn Works operations. The new deal is in effect until Jul 31, 2028, and will cover about 1,000 UAW-represented workers at Dearborn.This equitable agreement at Dearborn is an example of the company's strong commitment to a collaborative relationship that benefits both employees and CLF as a whole. The company has strengthened its partnership with th ...

BreakingTheWalls Introduction The steel industry is not in a great place right now. Here are some of the latest headlines from Bloomberg, which show a wide range of issues, including problems in China, warnings of a "severe industry crisis," and plummeting iron ore sales: Bloomberg Using China, the world's biggest steel producer, as an example, margins haven't been this bad since the global manufacturing/commodity recession in 2015! Bloomberg Back then, China rescued its steel industry through massive ...

Cleveland-Cliffs Inc. (CLF) shares have lost 19.6% in the past month, underperforming the Zacks Mining – Miscellaneous industry’s decline of 7.5%. The bearishness is partly due to the underlying challenges in the steel industry as reflected by the significant retreat in U.S. steel prices driven by a combination of demand slowdown and oversupply, which have triggered a downward revision in CLF’s earnings estimates.Technical indicators show that CLF has been trading below the 200-day simple moving average (SM ...

Cleveland-Cliffs Inc. (CLF) announced that it upsized and priced an additional $600 million in Senior Guaranteed Notes due 2032. This offering, exempt from registration under the Securities Act of 1933, features Additional Notes with an annual interest rate of 7%, issued at 99.25% of their principal amount. The Notes will be guaranteed on a senior unsecured basis by Cliffs’ key direct and indirect wholly-owned domestic subsidiaries, excluding certain subsidiaries.This upsized offering reduces the amount of ...

Cleveland-Cliffs (CLF) reported $5.09 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 14.9%. EPS of $0.11 for the same period compares to $0.69 a year ago. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 1-8944 CLEVELAND-CLIFFS INC. (Exact Name of Registrant as Specified in Its Charter) | Ohio | | | 34-1464672 | | --- | --- | ...

Cleveland-Cliffs Inc. (CLF) stated that it will establish a new electrical distribution transformer production plant in Weirton, WV. This strategic investment aims to alleviate the significant shortage of distribution transformers that is currently hindering economic growth across the United States.Cleveland-Cliffs will repurpose its Half Moon Warehouse in Weirton to produce three-phase distribution transformers, which are used in electric power distribution systems. The total capital investment for this pr ...

Cleveland-Cliffs Inc. (NYSE:CLF) Q2 2024 Earnings Conference Call July 23, 2024 8:30 AM ET Company Participants Celso Goncalves - Executive Vice President & Chief Financial Officer Lourenco Goncalves - Chairman, President & Chief Executive Officer Conference Call Participants Lucas Pipes - B. Riley Securities Lawson Winder - Bank of America Carlos De Alba - Morgan Stanley Philip Gibbs - KeyBanc Capital Markets Operator Good morning, ladies and gentlemen. My name is Daryl, and I am your conference facilitato ...

Cleveland-Cliffs Inc.’s (CLF) second-quarter 2024 adjusted earnings were 11 cents per share, down from 69 cents in the prior-year quarter. The Zacks Consensus Estimate was pegged at break-even for the quarter.Revenues fell 14.9% to $5,092 million in the quarter. The top line missed the Zacks Consensus Estimate of $5,199.9 million.Operational HighlightsThe company reported Steelmaking revenues of roughly $4.9 billion in the second quarter, down around 15.4% year over year. Average net selling price per net t ...