Cleveland-Cliffs Inc Stock Price, News & Analysis

Cleveland-Cliffs (NYSE: CLF) has announced the pricing of $850 million Senior Unsecured Notes due 2034. The notes will carry an interest rate of 7.625% and will be issued at par, with guarantees from Cliffs' material wholly-owned domestic subsidiaries.

The company plans to use the proceeds to redeem all outstanding 5.875% and 7.00% Senior Guaranteed Notes due 2027, including AK Steel's 7.00% Senior Notes, and repay borrowings under its asset-based credit facility. The offering is expected to close on September 8, 2025, subject to customary conditions.

Cleveland-Cliffs (NYSE: CLF) has announced plans to offer $600 million in Senior Unsecured Guaranteed Notes due 2034. The notes will be guaranteed by Cliffs' material direct and indirect wholly-owned domestic subsidiaries, with certain exclusions.

The company intends to use the proceeds, along with available liquidity, to redeem all outstanding 5.875% Senior Guaranteed Notes due 2027, 7.00% Senior Guaranteed Notes due 2027, and AK Steel 7.00% Senior Notes due 2027. The offering is limited to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.

Cleveland-Cliffs (NYSE: CLF) welcomed the U.S. Department of Commerce's decision to extend Section 232 steel tariffs to include electrical steel laminations, cores, and certain stainless steel automotive exhaust parts. Effective immediately, steel content in these products will be subject to 50% tariffs.

The action aims to counter tariff circumvention through Mexico and Canada involving derivative products using non-North American steel, which Cleveland-Cliffs identified after acquiring AK Steel Corporation. This measure supports the company's stainless steel operations in Coshocton and Mansfield, OH, and electrical steel operations in Butler, PA and Zanesville, OH, protecting domestic manufacturing of cars, appliances, and electrical transformers.

Cleveland-Cliffs (NYSE:CLF) reported its Q2 2025 results with record steel shipments of 4.3 million net tons and revenues of $4.9 billion. The company posted a GAAP net loss of $470 million, including $323 million in non-recurring charges related to idled facilities, and an adjusted net loss of $247 million ($0.50 per share).

The company's Adjusted EBITDA improved by $271 million quarter-over-quarter to $97 million, with steel unit cost reductions of $15 per net ton. CLF maintains strong liquidity of $2.7 billion and updated its 2025 guidance, including reduced capital expenditure expectations to $600 million and anticipated steel unit cost reductions of $50 per net ton compared to 2024.

The company's steel product mix comprised 40% hot-rolled, 27% coated, 15% cold-rolled, with the remainder in plate, stainless, electrical, and other products. Major customer segments included infrastructure and manufacturing (31%), distributors and converters (30%), and automotive (26%).

Cleveland-Cliffs (NYSE:CLF) announced it will live stream a ribbon cutting ceremony for its new $150 million Stainless Bright Annealing Line at Coshocton Works facility in Ohio. The event will take place on July 2, 2025, at 11:00 AM ET. CEO Lourenco Goncalves will host Ohio Governor Mike DeWine, along with other executives, employees, and key customers at this invitation-only event. The ceremony will be accessible via Cleveland-Cliffs' YouTube channel.

Cleveland-Cliffs (NYSE: CLF), a major steel producer, has scheduled its second-quarter 2025 earnings announcement for Monday, July 21, 2025, before the U.S. market opens. The company will host a conference call with securities analysts and institutional investors at 8:30 am ET on the same day to discuss the quarterly results. Interested parties can access the live broadcast through Cleveland-Cliffs' website at www.clevelandcliffs.com, where the recording will also be archived for future reference.

Cleveland-Cliffs (NYSE: CLF) has commissioned a new $150 million Vertical Stainless Bright Anneal Line at its Coshocton Works facility in Ohio. The state-of-the-art line will produce premium stainless steel for high-end automotive and appliance applications, utilizing innovative 100% hydrogen atmosphere technology instead of conventional acid-based processing. The facility includes a hydrogen recovery unit enabling 50/50 recycling of hydrogen. CEO Lourenco Goncalves highlighted that the stainless steel business has been their most consistent profit generator since acquiring AK Steel in 2020, and this investment is expected to yield quick returns while improving quality and productivity through advanced automation.

Cleveland-Cliffs (NYSE: CLF) reported challenging Q1 2025 results with revenues of $4.6 billion but a GAAP net loss of $483 million ($1.00 per share). The company announced major operational changes, including idling six facilities to optimize operations and reduce costs. These changes are expected to generate annual savings over $300 million. The company is strategically repositioning away from non-core markets and focusing on its automotive steel business. Key financial metrics include an Adjusted EBITDA loss of $174 million and steel sales volumes of 4.1 million net tons. Management highlighted three focus areas: automotive volume recovery, repositioning from underperforming assets, and the upcoming termination of an unprofitable slab contract that could benefit annual EBITDA by $500 million starting 2026. The company maintains strong liquidity of $3.0 billion.

Cleveland-Cliffs (NYSE: CLF) has scheduled its first-quarter 2025 earnings announcement for May 7, 2025, after the U.S. market close. The company will host a conference call with securities analysts and institutional investors to discuss the results on May 8, 2025, at 8:30 am ET. Interested parties can access the live broadcast through the company's website at www.clevelandcliffs.com, where the call recording will also be available for replay.