Cleveland-Cliffs Earnings Reports

Cleveland-Cliffs posted Q4 2024 revenue of $4.33 billion, a decline from the prior year. The company reported a net loss of $434 million and an adjusted net loss of $332 million due to lower steel prices and weak demand. Adjusted EBITDA turned negative at -$81 million, compared to $279 million in Q4 2023. The company anticipates a rebound in 2025, driven by improving demand and cost reductions.

Cleveland-Cliffs reported third-quarter 2024 results with revenues of $4.6 billion and a GAAP net loss of $230 million. The company faced challenges due to weaker demand and pricing, particularly in the automotive sector. However, cost reduction targets were exceeded, and the acquisition of Stelco is expected to provide resilience and cost advantages.

Cleveland-Cliffs reported second-quarter 2024 revenues of $5.1 billion and net income of $9 million. The company generated $362 million in free cash flow and reduced net debt by $237 million. It also repurchased 7.5 million shares during the quarter.

Cleveland-Cliffs reported mixed first-quarter 2024 results, with revenues of $5.2 billion, a net loss of $53 million, and adjusted net income of $87 million. The company repurchased 30.4 million shares and announced a new $1.5 billion share repurchase program. The automotive sector's resilience helped offset service center business challenges. The company maintains its full-year 2024 guidance.

Cleveland-Cliffs reported Q4 2023 revenues of $5.1 billion, a net loss of $139 million, and adjusted EBITDA of $279 million. The company achieved record annual steel shipments of 16.4 million net tons and reduced net debt to $2.9 billion. They anticipate steel unit costs to decrease $30 per ton in 2024.

Cleveland-Cliffs reported a net income of $275 million and an adjusted EBITDA of $614 million. The company generated over $600 million in free cash flow, which was used to reduce debt and repurchase shares. Record automotive steel shipments and a decrease in unit cost per ton contributed to the positive results.

Cleveland-Cliffs reported second-quarter 2023 revenues of $6.0 billion and a net income of $356 million. The company's performance was driven by record automotive shipments and higher realized prices, resulting in an adjusted EBITDA of $775 million. The company reduced its debt by over $550 million and repurchased 6.5 million shares during the quarter.

Cleveland-Cliffs reported first-quarter 2023 revenues of $5.3 billion and a GAAP net loss of $42 million, or $0.11 per diluted share. Adjusted EBITDA was $243 million. Steel shipments reached 4.1 million net tons, with 36% of steelmaking revenues from direct automotive sales.

Cleveland-Cliffs Inc. reported full-year and fourth-quarter results for the period ended December 31, 2022. The company reported Q4 revenues of $5.0 billion and a net loss of $204 million. Despite the loss, the company generated healthy free cash flow of $262 million and achieved its targeted unit cost reduction of $80 per net ton.

Cleveland-Cliffs reported third-quarter revenue of $5.7 billion and net income of $165 million. The company achieved a substantial $1.8 billion reduction in pro forma pension/OPEB net liabilities. Adjusted EBITDA was $452 million, compared to $1.9 billion in the third quarter of 2021.

Cleveland-Cliffs reported Q2 2022 revenue of $6.3 billion and net income of $601 million. While revenue increased compared to Q2 2021, net income and Adjusted EBITDA decreased. The company highlighted its focus on debt reduction and share repurchases, and anticipates improved performance in the second half of the year.

Cleveland-Cliffs reported a strong first quarter with revenues of $6.0 billion and net income of $801 million. The company's Adjusted EBITDA was $1.5 billion, driven by successful contract renewals and a vertically integrated business model.

Cleveland-Cliffs reported Q4 2021 consolidated revenues of $5.3 billion and a net income of $899 million, or $1.69 per diluted share. The company's Adjusted EBITDA for the quarter was $1.5 billion. They also announced a $1 billion share repurchase program.

Cleveland-Cliffs reported record third-quarter revenue of $6.0 billion and net income of $1.3 billion, driven by strong steel demand and pricing. The company's adjusted EBITDA was also a record $1.9 billion.

Cleveland-Cliffs reported record second-quarter results, including record quarterly revenue of $5.0 billion, net income of $795 million, and adjusted EBITDA of $1.4 billion. The company's performance was driven by the successful integration of ArcelorMittal USA and AK Steel, as well as strong steel demand.

Cleveland-Cliffs reported first-quarter 2021 consolidated revenues of $4.0 billion, a significant increase from the prior-year's $359 million. The company recorded a net income of $41 million, or $0.07 per diluted share, a substantial improvement compared to the prior-year's net loss of $52 million, or $0.18 per diluted share. Adjusted EBITDA for the quarter was $513 million, compared to $23 million in the first quarter of 2020. The company has increased its full-year 2021 adjusted EBITDA guidance to approximately $4.0 billion.

Cleveland-Cliffs reported fourth-quarter 2020 consolidated revenues of $2.3 billion, a significant increase from the prior year. The company recorded a net income of $74 million, or $0.14 per diluted share, which included acquisition-related costs and amortization of inventory step-up. Adjusted EBITDA was $286 million, compared to $111 million in the fourth quarter of 2019.

Cleveland-Cliffs Inc. reported third-quarter results with a net income of $2 million and adjusted EBITDA of $126 million. The company generated $246 million in cash from operations and $150 million in free cash flow. Revenue increased significantly compared to the prior year, driven by the acquisition of AK Steel.

Cleveland-Cliffs Inc. reported a total revenue of $1.1 billion for Q2 2020, compared to $743 million in the prior year's second quarter. The company recorded a net loss of $108 million, or $0.31 per diluted share, compared to a net income of $161 million, or $0.57 per diluted share in the prior-year second quarter. The adjusted EBITDA loss was $82 million, including $159 million in idle costs and $32 million in corporate margin eliminations related to intercompany pellet sales.

Cleveland-Cliffs Inc. reported a net income of $63 million, or $0.23 per diluted share, for the fourth quarter of 2019. This includes $7 million in costs related to the acquisition of AK Steel. Consolidated revenues were $534 million, compared to $696 million in the prior-year quarter. Adjusted EBITDA was $111 million, compared to $188 million in the fourth quarter of 2018.