Company Performance - Cleveland-Cliffs (CLF) closed at $11.98, reflecting a +1.1% change from the previous trading day's close, outperforming the S&P 500's daily loss of 0.43% [1] - Over the past month, shares of Cleveland-Cliffs have gained 21.91%, significantly surpassing the Basic Materials sector's gain of 3.69% and the S&P 500's gain of 2.6% [1] Earnings Forecast - Cleveland-Cliffs is expected to release its earnings on February 24, 2025, with a predicted EPS of -$0.64, indicating a 1180% decline compared to the same quarter last year [2] - The consensus estimate for revenue is $4.31 billion, reflecting a 15.62% decrease compared to the same quarter of the previous year [2] Analyst Estimates - Recent adjustments to analyst estimates for Cleveland-Cliffs indicate changing near-term business trends, with positive revisions suggesting analyst optimism regarding the company's business and profitability [3] - The Zacks Rank system, which evaluates these estimate changes, currently ranks Cleveland-Cliffs at 5 (Strong Sell), following a 126.95% fall in the Zacks Consensus EPS estimate over the past month [5] Industry Context - Cleveland-Cliffs operates within the Mining - Miscellaneous industry, which is part of the Basic Materials sector, currently holding a Zacks Industry Rank of 173, placing it in the bottom 32% of over 250 industries [6] - The Zacks Industry Rank assesses the strength of industry groups based on the average Zacks Rank of individual stocks, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [6]

Core Viewpoint - Analysts forecast that Cleveland-Cliffs (CLF) will report a quarterly loss of $0.58 per share, indicating a year-over-year decline of 1060% and anticipated revenues of $4.31 billion, reflecting a 15.6% decrease compared to the previous year [1] Earnings Estimates - The consensus EPS estimate has been revised 22.9% lower over the last 30 days, indicating a collective reevaluation by analysts [2] - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong relationship between earnings estimate revisions and short-term stock performance [3] Revenue Projections - Analysts predict 'Revenues- Other Businesses' at $154.30 million, suggesting a year-over-year change of -2.3% [5] - 'Revenues- Steelmaking' is expected to reach $4.23 billion, indicating a year-over-year decline of -14.7% [5] - 'Revenues- Steelmaking- Coated steel' is forecasted at $1.38 billion, reflecting an -8.3% change from the previous year [5] - 'Revenues- Steelmaking- Slab and other steel products' is estimated at $243.21 million, suggesting a -22.6% year-over-year change [6] Sales Volumes - 'External Sales Volumes- Steel Products' is projected at 3,819.69 tons, down from 4,039 tons in the previous year [6] - 'Volumes - Steelmaking - Coated steel' is expected to be 1,110.18 tons, compared to 1,140 tons reported last year [7] - 'Volumes - Steelmaking - Slab and other steel products' is estimated at 344.40 tons, down from 473 tons in the same quarter last year [8] - 'Volumes - Steelmaking - Plate' is projected at 172.51 tons, compared to 213 tons reported last year [8] - 'Volumes - Steelmaking - Cold-rolled steel' is expected to reach 568.06 tons, down from 583 tons [9] - 'Volumes - Steelmaking - Hot-rolled steel' is projected at 1,453.94 tons, compared to 1,472 tons last year [9] - 'Volumes - Steelmaking - Stainless and electrical steel' is expected to reach 167.96 tons, slightly up from 158 tons reported last year [10] Market Performance - Over the past month, shares of Cleveland-Cliffs have returned +11.8%, outperforming the Zacks S&P 500 composite's +4.7% change [11] - Currently, CLF carries a Zacks Rank 5 (Strong Sell), indicating potential underperformance in the near future [11]

Core Viewpoint - Cleveland-Cliffs (CLF) is anticipated to report a significant year-over-year decline in earnings due to lower revenues, with a consensus EPS estimate indicating a loss of $0.58 per share, reflecting a -1060% change compared to the previous year [1][3]. Earnings Expectations - The upcoming earnings report is scheduled for February 24, and the stock may experience upward movement if the reported numbers exceed expectations, while a miss could lead to a decline [2]. - Revenues for the quarter are projected to be $4.31 billion, which is a decrease of 15.6% from the same quarter last year [3]. Estimate Revisions - Over the last 30 days, the consensus EPS estimate has been revised down by 22.93%, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4]. - The Most Accurate Estimate for Cleveland-Cliffs is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -14.45%, which complicates the prediction of an earnings beat [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation of actual earnings from the consensus estimate, with a strong predictive power for positive readings [7][8]. - Cleveland-Cliffs currently holds a Zacks Rank of 5 (Strong Sell), which further diminishes the likelihood of beating the consensus EPS estimate [11]. Historical Performance - In the last reported quarter, Cleveland-Cliffs was expected to post a loss of $0.31 per share but actually reported a loss of $0.33, resulting in a surprise of -6.45% [12]. - Over the past four quarters, the company has only surpassed consensus EPS estimates once [13]. Industry Comparison - Teck Resources Ltd (TECK), another player in the mining industry, is expected to report earnings of $0.22 per share, reflecting a year-over-year decline of -78.4%, with revenues projected at $1.85 billion, down 38.5% from the previous year [17]. - The consensus EPS estimate for Teck Resources has also been revised down by 23.5% in the last 30 days, resulting in an Earnings ESP of -5.33% and a Zacks Rank of 3 (Hold) [18].

Core Viewpoint - Cleveland-Cliffs is experiencing a decline in projected earnings and revenue, with significant downward revisions in analyst estimates indicating challenges ahead for the company [2][5]. Group 1: Stock Performance - Cleveland-Cliffs closed at $11.48, reflecting a gain of 0.79% from the previous trading session, outperforming the S&P 500's loss of 0.01% [1]. - Over the past month, shares of Cleveland-Cliffs have appreciated by 9.31%, surpassing the Basic Materials sector's gain of 7.95% and the S&P 500's gain of 4.88% [1]. Group 2: Financial Projections - The upcoming earnings announcement is scheduled for February 24, 2025, with an expected EPS of -$0.56, representing a 1020% decline compared to the same quarter last year [2]. - Revenue is projected to be $4.31 billion, indicating a 15.62% decline compared to the corresponding quarter of the prior year [2]. Group 3: Analyst Estimates - Recent changes in analyst estimates for Cleveland-Cliffs show a downward revision of 124.78% in the Zacks Consensus EPS estimate over the past month [5]. - The company currently holds a Zacks Rank of 5 (Strong Sell), reflecting negative sentiment among analysts regarding its business operations and profit generation capabilities [5]. Group 4: Industry Context - Cleveland-Cliffs operates within the Mining - Miscellaneous industry, which is part of the Basic Materials sector, holding a Zacks Industry Rank of 162, placing it in the bottom 36% of over 250 industries [6]. - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1, suggesting challenges for the Mining - Miscellaneous industry [6].

Group 1 - The article discusses the author's return to writing after a hiatus of one to two years, indicating a renewed focus on investment analysis [2] - The author has previously written over 150 articles for Seeking Alpha, showcasing extensive experience in investment commentary [2] Group 2 - The article emphasizes that past performance is not indicative of future results, highlighting the inherent uncertainty in investment outcomes [2] - It clarifies that no specific investment recommendations are being made, underscoring the importance of individual investor suitability [2]

Company Overview - Cleveland-Cliffs (CLF) shares increased by 17.9% to $11.84 in the last trading session, with a higher-than-average trading volume [1] - The stock has shown a 1.4% gain over the past four weeks [1] Market Impact - The surge in CLF's shares followed President Trump's executive orders imposing 25% tariffs on all steel and aluminum imports into the U.S., which is expected to boost U.S. steel prices and protect domestic manufacturers [2] Financial Performance Expectations - Cleveland-Cliffs is anticipated to report a quarterly loss of $0.56 per share, reflecting a year-over-year decline of 1020% [3] - Expected revenues for the upcoming quarter are $4.31 billion, down 15.6% from the same quarter last year [3] Earnings Estimate Revisions - The consensus EPS estimate for Cleveland-Cliffs has been revised 12.1% lower in the last 30 days [4] - A negative trend in earnings estimate revisions typically does not lead to price appreciation, indicating potential caution for future stock performance [4] Industry Context - Cleveland-Cliffs is categorized under the Zacks Mining - Miscellaneous industry, where Globe Specialty Metals (GSM) also operates [4] - Globe Specialty Metals' shares increased by 5.5% to $4.02, but it has returned -2.8% over the past month [4] - GSM's consensus EPS estimate for the upcoming report remains unchanged at -$0.01, representing a year-over-year change of -111.1% [5]

Market Overview - Markets opened positively, with the Dow up 167 points (+0.38%), S&P 500 up 40 points (+0.67%), Nasdaq up 190 points (+0.98%), and Russell 2000 up 7.9 points (+0.35%) [1] Steel Industry - Cleveland-Cliffs (CLF) shares surged by 18% on the day and are up 26% year-to-date, indicating strong market response to the steel tariff news [2] - Other steel companies like Nucor (NUE) and Alcoa (AA) experienced modest gains, reflecting a more tempered market reaction [2] Earnings Reports - Vertex Pharmaceuticals (VRTX) reported Q4 earnings of $3.98 per share, missing expectations by a penny, but revenues of $2.91 billion exceeded the $2.77 billion forecast, leading to a slight increase in share price [3] - Lattice Semiconductor (LSCC) reported Q4 earnings of 15 cents per share, below the anticipated 19 cents, but revenues of $117.4 million slightly surpassed expectations, resulting in a 14% increase in after-market trading [4] Upcoming Events - Fed Chair Jerome Powell is scheduled to testify before Congress, marking his first address since President Trump returned to office, which may impact market sentiment [4] - Notable earnings reports expected include Coca-Cola (KO), Marriott (MAR), and Shopify (SHOP) before market open, with DoorDash (DASH), Gilead Pharma (GILD), and Lyft (LYFT) reporting after the close [5]

Shares of steel producer Cleveland-Cliffs (CLF 11.60%) were moving higher today as steel stocks jumped broadly after President Trump said on Sunday that he would impose 25% tariffs on all steel and aluminum imports to the U.S. The news was seen as a positive for U.S. steel producers like Cleveland-Cliffs as it should lead to less competition and higher prices.As of 9:45 a.m. ET, the stock was up 14.1% on the news. The trade war heats upEconomists and investors are generally against trade wars and tariffs, b ...

Group 1 - Cleveland-Cliffs Inc. shares are experiencing an increase in trading following President Trump's announcement of a 25% tariff on steel and aluminum imports, which is expected to benefit domestic companies like Cleveland-Cliffs [1] - The stock may be breaking out of a downtrend that has persisted for a year, indicating a potential shift in market sentiment [2] - The stock's price action shows that previous support levels, such as $16.45 and $14.25, have turned into resistance levels, reflecting investor behavior and market dynamics [5][6][8] Group 2 - Recent developments suggest that the $10.85 level, which was previously a support level, has now become resistance, but the tariff news could help the stock break through this resistance [9] - The fading of buyer's remorse at market bottoms indicates that levels that were once support may no longer act as resistance, suggesting a potential end to Cleveland-Cliffs' year-long downtrend and the formation of a new bull market [10]

Cleveland-Cliffs Inc. (CLF) has released its preliminary fourth-quarter and full-year 2024 financial results. On Nov. 1, 2024, the company closed the acquisition of Stelco Holdings Inc. Due to the accounting integration linked with the transaction, only selected preliminary financial information is currently accessible, CLF noted. The company intends to release its comprehensive fourth-quarter and full-year 2024 earnings after the closing bell on Feb. 24, 2025. The financial results expectations include Ste ...