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 September 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 . | | | Commi ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

The auto sector is hurting Cleveland-Cliffs right now.Cleveland-Cliffs (CLF -9.23%) stock is getting tossed into the scrap pile today. The steelmaker reported third-quarter earnings last night, and results came up short of expectations. Analysts expected the company to report a loss, but its adjusted loss of $0.33 per share was worse than expected.Revenue also came up short, and investors knocked the stock lower by 9% as of 11:10 a.m. ET. Cliffs also announced that it closed the acquisition of Canadian stee ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-----------------------|------------------------------------------|-------|---------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | CLEVELAND-CLIFFS INC. | Third-Quarter 2024 Earnings Presentation | | November 4, 2024 | | | | | | | | | | | © 2024 Cleveland-Cliffs Inc. All Rights Reserved. | | | | FORWARD-LOO ...

Cleveland-Cliffs Inc. (NYSE:CLF) Q3 2024 Earnings Conference Call November 4, 2024 8:30 AM ET Company Participants Lourenco Goncalves - Chairman, President & CEO Celso Goncalves - EVP & CFO Conference Call Participants Lucas Pipes - B. Riley Securities Lawson Winder - Bank of America Carlos De Alba - Morgan Stanley William Peterson - JPMorgan Alexander Hacking - Citigroup Chris LaFemina - Jefferies Philip Gibbs - KeyBanc Capital Markets Operator Good morning, ladies and gentlemen. My name is Darryl, and I’m ...

Cleveland-Cliffs Inc (NYSE:CLF) stock is plummeting today, down 11.3% at $11.63 at last glance, after the company's disappointing third-quarter report. The steel giant posted losses of 33 cents per share, larger than analysts' anticipated losses of 31 cents per share, and revenue below expectations. Headed for its largest single-day percentage loss since a 14.7% drop in February of 2021, the stock is on the short sell restricted (SSR) list today amid the volatility. Prior to today's gap lower, the shares we ...

Cleveland-Cliffs (CLF) Q3 2024 Earnings Call November 05, 2024 08:30 AM ET Company Participants Lourenco Goncalves - Chairman, President & CEOCelso Goncalves - Executive VP & CFO Conference Call Participants Lucas Pipes - AnalystLawson Winder - AnalystCarlos de Alba - AnalystBill Peterson - AnalystAlex Hacking - Equity Research Analyst - Metals & MiningChris LaFemina - Equity Research AnalystPhil Gibbs - Director, Metals Equity Research Analyst Operator Good morning, ladies and gentlemen. My name is Daryl, ...

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].