Cliffs(US:CLF)2025-02-25 13:28Financial Performance - Cleveland-Cliffs reported full-year 2024 revenues of $19.2 billion[6] - The company's full-year 2024 adjusted EBITDA was $780 million[6] and pro forma combined USD adjusted EBITDA was approximately $1.2 billion[6] - In Q4 2024, Cleveland-Cliffs experienced a net loss, with an adjusted EBITDA loss of $81 million[9] - Steel shipments for the full year 2024 totaled 15.6 million net tons[6], while Q4 2024 shipments were 3.8 million net tons[9] Cost Reduction and Efficiency - Cleveland-Cliffs achieved a steel unit cost reduction of $30 per ton year-over-year in 2024[6] - The company further reduced unit costs quarter-over-quarter by $15 per ton in Q4 2024[10] - Cleveland-Cliffs anticipates further cost reductions of approximately $40 per net ton in steel unit costs for 2025[47, 53] Strategic Initiatives and Market Outlook - The acquisition of Stelco Holdings Inc contributed positively to EBITDA immediately after closing on November 1, 2024[10] - Cleveland-Cliffs idled the Cleveland 6 Blast Furnace on October 1, 2024[10] - The company expects domestic steel demand to improve significantly in 2025 compared to 2024[33] - Capital expenditures for 2025 are targeted at approximately $700 million[39, 54]