Cleveland-Cliffs (CLF) Q2 Earnings Top Estimates, Sales Miss

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 ...