Loading...
•
Mar 31, 2025
Cleveland-Cliffs Q1 2025 Earnings Report
Reported a GAAP net loss of $483 million and an adjusted net loss of $456 million for the first quarter of 2025
Key Takeaways
Cleveland-Cliffs Inc. reported a net loss of $483 million and an adjusted net loss of $456 million in Q1 2025, significantly impacted by underperforming non-core assets and lower index prices. The company is taking decisive action to idle six facilities, aiming for over $300 million in annual savings and a sharper focus on the automotive market.
First-quarter 2025 revenues were $4.6 billion.
GAAP net loss for Q1 2025 was $483 million, or $1.00 per diluted share.
Adjusted net loss for Q1 2025 was $456 million, or $0.92 per diluted share.
Adjusted EBITDA loss for Q1 2025 was $174 million.
Revenue by Segment
Forward Guidance
The company updated or maintained previously guided expectations for the full-year 2025, anticipating steel unit cost reductions, lower capital expenditures, and reduced selling, general and administrative expenses.
Positive Outlook
- Expected steel unit cost reductions of approximately $50 per net ton compared to 2024.
- Anticipated capital expenditures of approximately $625 million.
- Projected selling, general and administrative expenses of approximately $600 million.
- Annualized savings exceeding $300 million from idling certain facilities.
- Conclusion of the ArcelorMittal/Nippon Steel Calvert slab contract expected to represent an approximate $500 million benefit to annualized EBITDA from 2026.
Challenges Ahead
- None explicitly stated as negatives in the forward guidance section, but the report highlights the negative impact of underperforming non-core assets and lower index prices in the current quarter.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...