Cleveland-Cliffs (CLF) Q1 2025 Earnings Call May 08, 2025 08:30 AM ET Company Participants Lourenco Goncalves - Chairman, President & CEOCelso Goncalves - EVP and CFOAlbert Realini - Senior Equity Research AssociateBill Peterson - Equity ResearchTimna Tanners - Managing Director - Equity Research Conference Call Participants Nick Giles - Senior Research AnalystLawson Winder - AnalystAlex Hacking - Equity Research Analyst - Metals & MiningCarlos de Alba - Analyst Operator Good morning, ladies and gentlemen. ...

Cleveland-Cliffs (CLF) Q1 2025 Earnings Call May 08, 2025 08:30 AM ET Speaker0 Good morning, ladies and gentlemen. My name is Sherry, and I will be your conference facilitator today. I would like to welcome everybody to Cleveland Cliffs First Quarter twenty twenty five Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. The company reminds you that certain comments made on today's call will in ...

Core Insights - Lear Corporation reported a solid start to 2025 with improved operational margins in both Seating and E-Systems segments despite lower industry production in key markets [3][4] - The company is facing challenges due to changes in global tariffs, which have created uncertainty in the automotive industry and impacted the cost structure of the supply chain [3][4] - Lear is focused on maintaining long-term competitiveness by managing near-term challenges, winning new business, and investing in automation and restructuring [3][4] Financial Performance - Total sales for Q1 2025 were $5,560.3 million, a decrease of 7% from $5,994.6 million in Q1 2024 [4][5] - Net income for Q1 2025 was $80.7 million, down from $109.6 million in the same period last year [4][5] - Adjusted net income was $169.3 million compared to $183.2 million in Q1 2024, with adjusted earnings per share at $3.12, down from $3.18 [4][5][8] Segment Performance - In the Seating segment, net sales were $4,151.1 million with segment margins of 5.2% and adjusted margins of 6.7% [34][35] - The E-Systems segment reported net sales of $1,409.2 million, with segment margins of 3.9% and adjusted margins of 5.2% [34][35] - Both segments experienced year-over-year margin improvements driven by efficiency gains and restructuring efforts [5][8] Cash Flow and Share Repurchase - Net cash used in operating activities was $(128) million, and free cash flow was $(232) million, compared to $(35) million and $(148) million in Q1 2024, respectively [5][9] - The company repurchased $25 million of shares during the quarter and had a remaining share repurchase authorization of approximately $1.1 billion [11][12] Market Outlook - Due to the uncertainty in industry production caused by evolving tariff environments, Lear is not reaffirming its 2025 financial outlook at this time [13] - The company remains confident in delivering its operating performance commitments as highlighted in previous earnings calls [13]