Cleveland-Cliffs Inc. reports developments in its North American flat-rolled steel and iron ore pellet business, including earnings releases, steel shipment trends and product mix across hot-rolled, coated, cold-rolled, plate, stainless and electrical steel. Company updates also address automotive customer demand, trade-enforcement conditions, cost controls, debt maturity actions and capital spending within its vertically integrated steelmaking footprint.
Recurring news also covers technology and governance developments, including enterprise AI deployment for production planning, order entry and operational workflows, board appointments and committee leadership changes. Strategic and commercial updates are framed around Cliffs’ role as a steel supplier to the North American automotive industry and its integrated chain from mined raw materials, direct reduced iron and scrap through finishing, stamping, tooling and tubing.
Cleveland-Cliffs (NYSE:CLF) has reached new four-year labor agreements with the United Steelworkers across its steel plants and mining operations. The agreements cover approximately 12,000 employees in Indiana, Ohio, Pennsylvania, Minnesota and Michigan, resolving all USW labor contracts currently up for renewal. They remain subject to ratification by USW local union memberships.
Cleveland-Cliffs (CLF) announced that subsidiary Stelco delivered a letter to Canada’s industry minister reporting compliance with its acquisition undertakings. Following a review with legal counsel, the company says Stelco complies with all 34 undertakings under the Investment Canada Act.
For the current reporting period, Stelco expects average annual employment of at least 1,879 bargaining-unit full-time equivalent employees against a requirement of 1,766, and at least 627 salaried equivalents against 603 required. On October 23, Stelco requested a meeting to discuss resuming full employment for 175 temporarily laid-off Hamilton workers. Stelco will update its compliance report after the reporting period closes October 31.
Cleveland-Cliffs (CLF) reported third-quarter 2026 net income of $165 million, returning to profit after a loss in the preceding quarter. Revenue rose to $5.612 billion from $5.226 billion in the second quarter; diluted earnings were $0.26 versus a $0.25 loss. Adjusted EBITDA, a non-GAAP earnings measure, increased to $612 million from $286 million, exceeding $575 million guidance. Steel shipments rose to 4.150 million net tons from 4.025 million.
The company expects fourth-quarter adjusted EBITDA of approximately $715 million and 2027 adjusted EBITDA above $4 billion, based on contract changes and prevailing price forecasts. Operating cash flow was $224 million, while liquidity totaled $3.2 billion at September 30. Cliffs decided to indefinitely idle Stelco’s galvanizing lines and expects to maintain total Stelco production by focusing on hot-rolled products. Long-term debt was $7.645 billion, versus $7.253 billion at year-end.
Cleveland-Cliffs (CLF) will host U.S. Energy Secretary Chris Wright and other federal officials at Butler Works on October 6, 2026.
The visit will showcase its previously announced $200 million expansion of grain oriented electrical steel (GOES), a material used in electrical transformers. The investment is supported by a $75 million Department of Energy award. Cleveland-Cliffs expects the project to expand the facility's GOES production volume by up to 25 percent, with completion expected in early 2028. New induction reheat furnaces and infrastructure improvements are planned to improve operating efficiency and reduce production losses. The project is also expected to support approximately 220 construction jobs at peak activity.
Cleveland-Cliffs (CLF) will announce third-quarter 2026 earnings results before the U.S. market opens on October 19, 2026.
A conference call with securities analysts and institutional investors will follow at 8:30 am ET that morning. Interested parties can listen live at www.clevelandcliffs.com, where the call will also be archived for replay.
SunCoke Energy (SXC) has appointed Wendell L. Carter to its Board of Directors, effective immediately, with service through the class standing for election at the May 2027 annual meeting.
Carter will serve on the Board’s Compensation and Governance committees. He brings decades of iron and steel industry experience, including senior leadership roles at Cleveland-Cliffs and ArcelorMittal USA overseeing research, large-scale steelmaking operations, and an approximately $1.0 billion annual engineering and capital expenditure budget.
Cleveland-Cliffs (NYSE: CLF) announced that the U.S. Department of Energy has established a framework to support a $1 billion optimization investment at its Middletown Works plant, including a rescoped $500 million DOE grant. Funding is planned to be shared equally between Cleveland-Cliffs and the DOE over the next four years, while maintaining uninterrupted steel production.
The project includes a blast furnace rebuild, advanced material handling, AI-enabled process controls, and a new cogeneration facility to use blast furnace gas for on-site power and steam. Completion of the blast furnace rebuild is targeted for Q1 2030, preserving 2,300 jobs and supporting approximately 1,500 peak construction jobs.
Cleveland-Cliffs (NYSE: CLF) announced that its Board has promoted Executive Vice President and Chief Financial Officer Celso Goncalves to President and Chief Financial Officer and appointed him to the Board of Directors, effective immediately. Lourenco Goncalves will remain Chairman and Chief Executive Officer and will relinquish the President title.
According to the company, Celso Goncalves has been with Cleveland-Cliffs since 2016 and has served as Executive Vice President and CFO since 2021. The Board and management credit him with major contributions to the company’s transformation, capital allocation, and strategic initiatives, and describe this move as part of a deliberate, longer-term leadership transition while maintaining current strategic direction.
Cleveland-Cliffs (NYSE: CLF) reported second-quarter 2026 revenues of $5.2 billion, up from $4.9 billion in Q1 2026, with steelmaking revenues of $5.1 billion and steel product sales of 4.0 million net tons at an average selling price of $1,124/ton.
The company recorded a GAAP net loss of $134 million ($0.25 per diluted share) and an adjusted net loss of $115 million ($0.20 per share), improving from a $229 million GAAP net loss in Q1. Adjusted EBITDA rose to $286 million, up $191 million quarter over quarter. Operating cash flow was $230 million, and total liquidity stood at $3.1 billion as of June 30, 2026.
For Q3 2026, Cleveland-Cliffs expects adjusted EBITDA of about $575 million and reiterated full-year 2026 guidance for steel shipments of 16.5–17.0 million net tons, capex of ~$700 million, SG&A of ~$575 million, D&A of ~$1.1 billion and pension/OPEB cash outflows of ~$125 million.
Cleveland-Cliffs (NYSE: CLF) plans to release its second-quarter 2026 earnings results before the U.S. market opens on Thursday, July 23, 2026. A live conference call with analysts and investors will follow at 8:30 a.m. ET, accessible via the company’s website.