NEWS RELEASE Cleveland-Cliffs Reports Third-Quarter 2024 Results CLEVELAND—November 4, 2024—Cleveland-Cliffs Inc. (NYSE: CLF) today reported third-quarter results for the period ended September 30, 2024. Third-Quarter 2024 Highlights • Revenues of $4.6 billion • Steel shipments of 3.8 million net tons 1 • GAAP net loss of $230 million and adjusted net loss of $156 million 2 • Adjusted EBITDA of $124 million 3 3 • Does not include Stelco's third-quarter adjusted EBITDA of US$64 million and adjusted EBITDA ma ...

Wall Street analysts expect Cleveland-Cliffs (CLF) to post quarterly loss of $0.30 per share in its upcoming report, which indicates a year-over-year decline of 155.6%. Revenues are expected to be $4.76 billion, down 15% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 13.5% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe. Prior to a company's ...

Core Viewpoint - Cleveland-Cliffs Inc. (CLF) is expected to report third-quarter 2024 results on November 4, with anticipated challenges due to lower steel prices despite some cost-saving measures [1][5]. Financial Performance - The Zacks Consensus Estimate for CLF's third-quarter consolidated revenues is $4,763.4 million, indicating a year-over-year decline of 15% [4]. - CLF has a trailing four-quarter earnings surprise of approximately 15.4% on average [1]. - The expected average net selling price per net ton of steel products is $1,048, reflecting a 6.8% sequential decrease [7]. - External sales volumes for steel products are estimated at 4.04 million net tons, suggesting a 1.2% sequential rise [7]. Market Conditions - U.S. steel prices have experienced a significant decline, dropping more than 40% from $1,200 per short ton at the beginning of 2024, influenced by reduced demand and increased imports [5][6]. - Current prices are around $700 per short ton, with a modest uptick due to recent price hikes, but a significant recovery is not expected in the near term [6]. Cost Management - Cleveland-Cliffs is projected to have achieved a $30 per ton sequential decline in steelmaking unit costs during the third quarter [8]. Earnings Prediction - The Earnings ESP for CLF is -10.62%, with a consensus estimate indicating a loss of 30 cents for the third quarter [10].

KYIV, UKRAINE - 2024/01/24: In this photo illustration, the Cleveland-Cliffs Inc. (CCI) logo is seen ... [+] on a smartphone and a PC screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesCleveland-Cliffs, a vertically integrated steel mill operator, has seen its stock decline by more than 30% in the last six months. This fall has been primarily due to the adverse business conditions that the industry is going through. Steel prices in t ...

The latest trading session saw Cleveland-Cliffs (CLF) ending at $12.88, denoting a -1.3% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.76%. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 1.01%.Coming into today, shares of the mining company had gained 11.06% in the past month. In that same time, the Basic Materials sector gained 2.96%, while the S&P 500 gained 4.31%.Analysts and investors alike will be keeping a cl ...

In the latest trading session, Cleveland-Cliffs (CLF) closed at $12.85, marking a +1.1% move from the previous day. This move outpaced the S&P 500's daily gain of 0.71%. Meanwhile, the Dow experienced a rise of 1.03%, and the technology-dominated Nasdaq saw an increase of 0.6%.The mining company's stock has climbed by 16.5% in the past month, exceeding the Basic Materials sector's gain of 5.75% and the S&P 500's gain of 6.41%.The investment community will be paying close attention to the earnings performanc ...

Shares of Cleveland-Cliffs (CLF, Financial), North America's largest iron ore producer, fell by over 4%, trading at $12.46. The decline follows news that the company has passed the United States Department of Justice's antitrust review for its acquisition of Canadian steel company Stelco. The transaction is expected to finalize by the fourth quarter of 2024. ...

Cleveland-Cliffs (CLF) closed the latest trading day at $12.99, indicating a +1.72% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.93%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 1.53%. Shares of the mining company have depreciated by 2.22% over the course of the past month, underperforming the Basic Materials sector's gain of 4.73% and the S&P 500's gain of 2.17%. Investors will be eagerly watching for the performance of ...

Cleveland-Cliffs (CLF) closed the most recent trading day at $12.25, moving -1.45% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.19%. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq added 0.04%.The mining company's stock has dropped by 11.53% in the past month, falling short of the Basic Materials sector's gain of 3.7% and the S&P 500's gain of 1.95%.Market participants will be closely following the financial results of Cleveland-Cliffs in its up ...

Cleveland-Cliffs Inc. (CLF) recently said that it remains entirely committed to the transformational project taking place at its Middletown Works integrated facility in Middletown, OH. CLF was selected for award negotiations for up to $500 million in total funding from the Department of Energy to replace its Middletown blast furnace with a Direct Reduced Iron plant and two Electric Melting Furnaces. It is still in active negotiations with the Department of Energy about the award-specific terms and condition ...