CLF earnings

Cleveland-Cliffs Inc. (NYSE:CLF) today reported first-quarter results for the period ended March 31, 2026. First-Quarter Consolidated Results Steel shipments of 4.1 million net tons, a 338,000 increase from the prior quarter Revenues of $4.9 billion, a $600 million increase from the prior quarter GAAP net loss of $229 million, or $0.42 per diluted share Adjusted EBITDA2 of $95 million, inclusive of an $80 million one‑time energy cost impact driven by extreme cold weather Liquidity of $3.1 billion as of March 31, 2026 First-quarter 2026 consolidated revenues were $4.9 billion, compared to $4.6 billion in the first quarter of 2025 and $4.3 billion in the fourth quarter of

Cleveland-Cliffs Inc. (NYSE:CLF) will announce first-quarter 2026 earnings results before the U.S. market open on Monday, April 20, 2026. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on the same morning, April 20, 2026, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated fro

Cleveland-Cliffs Inc. (NYSE:CLF) today reported fourth-quarter and full-year results for the period ended December 31, 2025. Highlights Fourth-quarter steel shipments of 3.8 million net tons Fourth-quarter GAAP net loss of $235 million, or $0.44 per diluted share Fourth-quarter adjusted net loss1 of $0.43 per diluted share Liquidity of $3.3 billion Fourth-Quarter Results Fourth-quarter 2025 consolidated revenues were $4.3 billion, consistent with prior-year fourth-quarter consolidated revenues of $4.3 billion. For the fourth quarter of 2025, the Company recorded a GAAP net loss of $235 million, or $0.44 per diluted share, with an adjusted net loss1 of $0.43 per diluted

Cleveland-Cliffs Inc. (NYSE:CLF) will announce full-year and fourth-quarter 2025 earnings results before the U.S. market open on Monday, February 9, 2026. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on the same morning, February 9, 2026, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertical

Cleveland-Cliffs Inc. (NYSE:CLF) today reported third-quarter results for the period ended September 30, 2025. Third-Quarter Consolidated Results Steel shipments of 4.0 million net tons Revenues of $4.7 billion GAAP net loss of $234 million and Adjusted net loss1 of $223 million, or $0.45 per diluted share Adjusted EBITDA2 of $143 million Liquidity of $3.1 billion as of September 30, 2025 Third-quarter 2025 consolidated revenues were $4.7 billion, compared to $4.9 billion in the second quarter of 2025. For the third quarter of 2025, the Company recorded a GAAP net loss of $234 million and adjusted net loss1 of $223 million, or $0.45 per diluted share. This compares to a

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its third-quarter 2025 earnings results before the U.S. market open on Monday, October 20, 2025. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on the same morning, October 20, 2025, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integr

Cleveland-Cliffs Inc. (NYSE:CLF) today reported second-quarter results for the period ended June 30, 2025. Second-Quarter Consolidated Results Record steel shipments of 4.3 million net tons Revenues of $4.9 billion GAAP net loss of $470 million, inclusive of $323 million of previously disclosed non-recurring charges related to idled facilities Adjusted net loss1 of $247 million, or $0.50 per diluted share Adjusted EBITDA2 of $97 million, a $271 million improvement quarter-over-quarter Steel unit cost reductions of $15 per net ton compared to the first quarter of 2025 Liquidity of $2.7 billion as of June 30, 2025 Second-quarter 2025 consolidated revenues were $4.9 b

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its second-quarter 2025 earnings results before the U.S. market open on Monday, July 21, 2025. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on the same morning, July 21, 2025, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated

Cleveland-Cliffs Inc. (NYSE:CLF) today reported first-quarter results for the period ended March 31, 2025. First-Quarter Consolidated Results First-quarter 2025 consolidated revenues were $4.6 billion, compared to $4.3 billion in the fourth quarter of 2024. For the first quarter of 2025, the Company recorded a GAAP net loss of $483 million, or $1.00 per diluted share, with an adjusted net loss1 of $456 million, or $0.92 per diluted share. This compares to a fourth quarter 2024 GAAP net loss of $434 million, or $0.92 per diluted share, with an adjusted net loss1 of $332 million, or $0.68 per diluted share. For the first quarter of 2025, the Company reported an Adjusted EBITDA2 loss of $1

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its first-quarter 2025 earnings results after the U.S. market close on Wednesday, May 7, 2025. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Thursday, May 8, 2025, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated from the minin

Cleveland-Cliffs Inc. (NYSE:CLF) today reported full-year and fourth-quarter results for the period ended December 31, 2024. Full-Year Consolidated Results Full-year 2024 consolidated revenues were $19.2 billion, compared to the prior year's consolidated revenues of $22.0 billion. For the full-year 2024, the Company recorded a GAAP net loss of $708 million, or $1.57 per diluted share, with adjusted net loss2 of $351 million, or $0.73 per diluted share. This compares to 2023 net income of $450 million, or $0.78 per diluted share, with adjusted net income2 of $545 million, or $1.07 per diluted share. For the full-year 2024, Adjusted EBITDA1 was $780 million, compared to $1.9 billion in

Aims to Install an Independent Slate and Legendary CEO Committed to Abandoning the Blocked Nippon Deal, Collecting the $565 Million Breakup Fee and Making U.S. Steel Great Again in the Public Market Believes the Board's Decision to Pursue a Risky Sale to Nippon – an Overseas Bidder Paying Just $1 Per Share More Than the Top Domestic Bidder – Has Led to a Dead End Contends the Board and CEO David Burritt, Who Collectively Stood to Receive $100+ Million if the Sale Proceeded, Prioritized Deal Advocacy at the Expense of Financial Health and Operational Performance Expresses Concern About the Board and Mr. Burritt Continuing to Devote Immense Resources to Litigation Despite Legal Headwind

Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs") will announce its full-year and fourth-quarter 2024 earnings results after the U.S. market close on Monday, February 24, 2025. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, February 25, 2025, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company i

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 GAAP net loss of $230 million and adjusted net loss1 of $156 million Adjusted EBITDA2 of $124 million Does not include Stelco's third-quarter adjusted EBITDA3 of US$64 million and adjusted EBITDA3 margin of 13% Liquidity of $3.8 billion as of September 30, 2024 Third-quarter 2024 revenues were $4.6 billion, compared to $5.1 billion in the second quarter of 2024. For the third quarter of 2024, the Company recorded a GAAP net loss of $0.52 per diluted share to Cliffs sharehol

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its third-quarter 2024 earnings results after the U.S. market close on Monday, November 4, 2024. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, November 5, 2024, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated from th

Cleveland-Cliffs Inc. (NYSE:CLF) today reported second-quarter results for the period ended June 30, 2024. Second-Quarter 2024 Highlights Revenues of $5.1 billion Steel shipments of 4.0 million net tons Net income of $9 million and adjusted net income1 of $50 million Adjusted EPS1 of $0.11 per diluted share Adjusted EBITDA2 of $323 million Net debt3 decrease of $237 million to $3.4 billion Cash flow from operations of $519 million Free cash flow4 of $362 million Repurchased 7.5 million shares Liquidity of $3.7 billion as of June 30, 2024 Second-quarter 2024 revenues were $5.1 billion, compared to $5.2 billion in the first quarter of 2024. For the second

Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs" or "the Company") is pleased to announce that it has entered into a definitive agreement to acquire Stelco Holdings Inc. (TSX:STLC) ("Stelco"). The acquisition confirms Cliffs' commitment and leadership in integrated steel production in North America, and also brings an additional 1,800 United Steelworkers ("USW") union employees into Cliffs' workforce. Under the terms of the agreement, Stelco shareholders will receive CAD $60.00 per Stelco common share in cash and 0.454 shares of Cliffs common stock per share of Stelco common stock (or CAD $10.00 per share as of July 12, 2024), representing a total consideration of CAD $70.00 per Stelco share. The

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its second-quarter 2024 earnings results after the U.S. market close on Monday, July 22, 2024. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, July 23, 2024, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The

Cleveland-Cliffs Inc. (NYSE:CLF) today reported first-quarter results for the period ended March 31, 2024. First Quarter 2024 Highlights Repurchased 30.4 million shares, or 6% of total outstanding Revenues of $5.2 billion Steel shipments of 3.9 million net tons GAAP net loss of $53 million and adjusted net income1 of $87 million Adjusted EPS1 of $0.18 per diluted share Adjusted EBITDA2 of $414 million 70% Adjusted EBITDA2 improvement year-over-year and 48% increase quarter-over-quarter Liquidity of $4.0 billion as of March 31, 2024 Retired all remaining secured notes First-quarter 2024 revenues were $5.2 billion, compared to $5.1 billion in the fourth quarter

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its first-quarter 2024 earnings results after the U.S. market close on Monday, April 22, 2024. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, April 23, 2024, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The

Cleveland-Cliffs Inc. (NYSE:CLF) today reported full-year and fourth-quarter results for the period ended December 31, 2023. Full-Year Highlights Revenues of $22.0 billion Record steel shipments of 16.4 million net tons, including record automotive shipments Cash flow from operations of $2.3 billion Free cash flow of $1.6 billion3, including approximately $500 million in the fourth quarter of 2023 Year-end net debt of $2.9 billion4 Net pension and OPEB liabilities reduced to $586 million, a $3.6 billion reduction since 2020 Full-Year Consolidated Results Full-year 2023 consolidated revenues were $22.0 billion, compared to the prior year's consolidated revenues of $2

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its full-year and fourth-quarter 2023 earnings results after the U.S. market close on Monday, January 29, 2024. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, January 30, 2024, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in

Cleveland-Cliffs Inc. (NYSE:CLF) today reported third-quarter results for the period ended September 30, 2023. Selected financial results for the third quarter of 2023 include: Revenues of $5.6 billion Steel shipments of 4.1 million net tons, including record automotive shipments Net income of $275 million Earnings per diluted share attributable to Cliffs shareholders of $0.52 Adjusted EBITDA1 of $614 million Cash flow from operations of $767 million Free cash flow2 of $605 million Net debt3 reduced to $3.4 billion Record liquidity of $4.4 billion Third-quarter 2023 revenues were $5.6 billion, compared to $5.7 billion in the third quarter of 2022. For the t

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its third-quarter 2023 earnings results after the U.S. market close on Monday, October 23, 2023. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, October 24, 2023, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America.

Cleveland-Cliffs Inc. (NYSE:CLF) today reported second-quarter results for the period ended June 30, 2023. Selected financial results for the second quarter of 2023 include: Revenues of $6.0 billion Steel shipments of 4.2 million net tons Net income of $356 million Adjusted EBITDA1 of $775 million Cash flow from operations of $887 million Free cash flow2 of $756 million Net debt3 down to $3.9 billion Total liquidity of $3.8 billion, highest in Company history Second-quarter 2023 revenues were $6.0 billion, compared to $5.3 billion in the first quarter of 2023. For the second quarter of 2023, the Company recorded net income of $356 million, or $0.67 per diluted

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its second-quarter 2023 earnings results after the U.S. market close on Monday, July 24, 2023. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, July 25, 2023, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The

Cleveland-Cliffs Inc. (NYSE:CLF) today reported first-quarter results for the period ended March 31, 2023. Selected financial results for the first quarter of 2023 include: Revenues of $5.3 billion Steel shipments of 4.1 million net tons GAAP net loss of $42 million, or $0.11 per diluted share attributable to Cliffs shareholders Adjusted EBITDA1 of $243 million 36% of Steelmaking revenues from direct automotive sales First-quarter 2023 revenues were $5.3 billion, compared to $5.0 billion in the fourth quarter of 2022. For the first quarter of 2023, the Company recorded a GAAP net loss of $42 million, corresponding to a GAAP net loss per diluted share attributable to Cl

Cleveland-Cliffs Inc. (NYSE:CLF) today provided its preliminary first-quarter financial results for the period ended March 31, 2023. Selected financial results expectations for the first quarter of 2023 include: Steel shipments of 4.1 million net tons Revenues of approximately $5.2 billion Adjusted EBITDA1 of approximately $200 million Lourenco Goncalves, Cliffs' Chairman, President, and CEO said: "Confirming our previous guidance, Q1 EBITDA was significantly higher than Q4 EBITDA. The increase in profitability in Q1 was almost entirely driven by the unit cost reductions explained in detail on our last earnings call. As we start the second quarter and continue to execute on fu

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its first-quarter 2023 earnings results after the U.S. market close on Monday, April 24, 2023. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, April 25, 2023, at 10:00 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. Th

Full-Year Financial Highlights Revenues of $23.0 billion, a new all-time record Net income of $1.4 billion Adjusted EBITDA1 of $3.2 billion Operating cash flow of $2.4 billion Combined debt and net pension/OPEB liabilities reduced by over $3 billion Cleveland-Cliffs Inc. (NYSE:CLF) today reported full-year and fourth-quarter results for the period ended December 31, 2022. Full-Year Consolidated Results Full-year 2022 consolidated revenues were $23.0 billion, compared to the prior year's consolidated revenues of $20.4 billion. For the full year 2022, the Company generated net income of $1.4 billion, or $2.55 per diluted share attributable to Cliffs shareholders. This compares t

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its fourth-quarter and full-year 2022 earnings results before the U.S. market open on Tuesday, February 14, 2023. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on February 14, 2023, at 10:00 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North A

Third-quarter revenue of $5.7 billion Third-quarter net income of $165 million Third-quarter Adjusted EBITDA1 of $452 million $1.8 billion reduction in pro forma pension/OPEB net liabilities from previous remeasurement Cleveland-Cliffs Inc. (NYSE:CLF) today reported third-quarter results for the period ended September 30, 2022. Third-quarter 2022 consolidated revenues were $5.7 billion, compared to the prior-year third-quarter revenues of $6.0 billion. For the third quarter of 2022, the Company recorded net income of $165 million, or $0.29 per diluted share attributable to Cliffs shareholders. In the prior-year third quarter, the Company recorded net income of $1.3 billion, or $2.

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its third-quarter 2022 earnings results before the U.S. market open on Tuesday, October 25, 2022. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on October 25, 2022, at 10:00 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Compa

Second-quarter revenue of $6.3 billion Second-quarter net income of $601 million Second-quarter Adjusted EBITDA1 of $1.1 billion Cleveland-Cliffs Inc. (NYSE:CLF) today reported second-quarter results for the period ended June 30, 2022. Second-quarter 2022 consolidated revenues were $6.3 billion, compared to the prior-year second-quarter revenues of $5.0 billion. For the second quarter of 2022, the Company recorded net income of $601 million, or $1.13 per diluted share attributable to Cliffs shareholders. This included the following one-time charges totaling $95 million, or $0.18 per diluted share: charges of $66 million, or $0.13 per diluted share, for debt extinguishment costs;

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its second-quarter 2022 earnings results before the U.S. market open on Friday, July 22, 2022. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on July 22, 2022, at 10:00 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cleveland-Cliffs also is the largest manufacturer of iron ore pellets in North America. The C

First-quarter revenue of $6.0 billion First-quarter net income of $801 million First-quarter Adjusted EBITDA1 of $1.5 billion Cleveland-Cliffs Inc. (NYSE:CLF) today reported first-quarter results for the period ended March 31, 2022. First-quarter 2022 consolidated revenues were $6.0 billion, compared to the prior-year first-quarter revenues of $4.0 billion. For the first quarter of 2022, the Company recorded net income of $801 million, or $1.50 per diluted share. This included the following one-time non-cash charges totaling $111 million, or $0.21 per diluted share: charges of $68 million, or $0.13 per diluted share, in accelerated depreciation related to the indefinite idle of t

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its first-quarter 2022 earnings results before the U.S. market open on Friday, April 22, 2022. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on April 22, 2022, at 10:00am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is

Record annual revenue of $20.4 billion Record annual net income of $3.0 billion Record annual Adjusted EBITDA1 of $5.3 billion Record annual operating cash flow of $2.8 billion Cleveland-Cliffs Inc. (NYSE:CLF) today reported full-year and fourth-quarter results for the period ended December 31, 2021. Full-Year Consolidated Results Full-year 2021 consolidated revenues were $20.4 billion, compared to the prior year's consolidated revenues of $5.3 billion. For the full year 2021, the Company generated net income of $3.0 billion, or $5.36 per diluted share. This compares to a 2020 net loss of $81 million, or $0.32 per diluted share. For the full year 2021, Adjusted EBITDA1 was $5.3

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its fourth-quarter and full-year 2021 earnings results before the U.S. market open on Friday, February 11, 2022. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on February 11, 2022, at 10:00am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North Ame

Record quarterly revenue of $6.0 billion Record quarterly net income of $1.3 billion Record quarterly adjusted EBITDA1 of $1.9 billion Cleveland-Cliffs Inc. (NYSE:CLF) today reported third-quarter results for the period ended September 30, 2021. Third-quarter 2021 consolidated revenues were $6.0 billion, compared to the prior-year third-quarter revenues of $1.6 billion. For the third quarter of 2021, the Company recorded net income of $1.3 billion, or $2.33 per diluted share. In the prior-year third quarter, the Company recorded net income of $2 million. For the first nine months of 2021, the Company recorded revenues of $15.1 billion and net income of $2.1 billion, or $3.69 per d

Cleveland-Cliffs Inc. (the "Company") (NYSE:CLF) announced today that it has entered into a definitive agreement to acquire Ferrous Processing and Trading Company, including certain related entities ("FPT"), for a total enterprise value of approximately $775 million, on a cash-free, debt-free basis and subject to customary adjustment ("the FPT Acquisition"). Based in Detroit, FPT is among the largest processors and distributors of prime ferrous scrap in the United States, representing approximately 15% of the domestic merchant prime scrap market. FPT currently processes approximately three million tons of scrap per year, approximately half of which is prime grade. FPT operates 22 scrap pro

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its third-quarter 2021 earnings results before the U.S. market open on Friday, October 22, 2021. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on October 22, 2021, at 10:00am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company

Record quarterly revenue of $5.0 billion Record quarterly net income of $795 million Record quarterly adjusted EBITDA1 of $1.4 billion Cleveland-Cliffs Inc. (NYSE:CLF) today reported second-quarter results for the period ended June 30, 2021. Second-quarter 2021 consolidated revenues were $5.0 billion, compared to the prior-year second-quarter revenues of $1.1 billion. For the second quarter of 2021, the Company recorded net income of $795 million, or $1.33 per diluted share. This included the following charges totaling $77 million, or $0.13 per diluted share: charges of $37 million, or $0.06 per diluted share, of inventory step-up amortization, related to the revaluation of inven