Welcome to our dedicated page for Cleveland-Cliffs news (Ticker: CLF), a resource for investors and traders seeking the latest updates and insights on Cleveland-Cliffs stock.
Cleveland-Cliffs Inc. (NYSE: CLF) is a North America-based steel producer with a focus on value-added sheet products for the automotive industry and a vertically integrated model that spans iron ore mining, pellet and direct reduced iron production, ferrous scrap processing, primary steelmaking, and downstream finishing, stamping, tooling, and tubing. The CLF news feed on Stock Titan aggregates the company’s latest announcements, earnings releases, financing transactions, and strategic updates.
Investors following CLF news can track quarterly and full-year earnings results, including steel shipment volumes, revenue trends, and segment performance as reported in the company’s public releases and Form 8-K filings. Cleveland-Cliffs regularly announces the timing of its earnings calls with securities analysts and institutional investors, and provides access to live webcasts and archived replays, which are highlighted in its news flow.
News for Cleveland-Cliffs also covers capital markets activity such as offerings of senior guaranteed notes due 2034 and underwritten public offerings of common shares, along with stated uses of proceeds like repayment of borrowings under its asset-based credit facility. Corporate governance developments, including board appointments and committee assignments, appear in both press releases and related 8-K filings.
Sector-specific updates include information on automotive-grade steel supply, production trials with automotive OEMs, and strategic partnerships such as the Memorandum of Understanding with POSCO, which is described as a transformative agreement aligned with U.S.–Korea trade policy. By monitoring this CLF news page, users can review a consolidated stream of company communications that reflect Cleveland-Cliffs’ operating performance, financing decisions, and strategic initiatives in the steel and mining value chain.
Cleveland-Cliffs Inc. (NYSE: CLF) reported first-quarter 2023 results, showing revenues of $5.3 billion and steel shipments of 4.1 million net tons. The company experienced a GAAP net loss of $42 million, or $0.11 per diluted share. This is an improvement from a loss of $204 million in the previous quarter. Adjusted EBITDA rose to $243 million compared to $123 million in Q4 2022. Direct automotive sales accounted for 36% of steelmaking revenues. Cliffs’ liquidity stands at $3.1 billion, aided by a recent $750 million Senior Unsecured Notes offering. The company has reduced its full-year capital expenditure outlook to $675-$725 million. A conference call is scheduled for April 25, 2023, to discuss these results further.
Cleveland-Cliffs Inc. (NYSE: CLF) has successfully closed the offering of $750 million in senior unsecured guaranteed notes due 2030, featuring a 6.75% annual coupon. The net proceeds will be allocated to reducing borrowings under the company's asset-based revolving credit facility.
This transaction is designed to be leverage and interest expense neutral, indicating it won't impact the company's financial leverage or increase interest costs. Cleveland-Cliffs is recognized as the largest flat-rolled steel producer and iron ore pellet manufacturer in North America, holding a key position in supplying steel to the automotive sector and other markets.
Cleveland-Cliffs Inc. (NYSE: CLF) has priced $750 million in senior unsecured guaranteed notes due 2030 with a 6.75% interest rate. The offering, exempt from registration under the Securities Act, is set to close on April 14, 2023. Proceeds will be utilized to reduce borrowings under its revolving credit facility, maintaining a leverage-neutral stance. After the offering, the company will have over $2 billion in callable debt, which it aims to decrease through cash flow generation. Cleveland-Cliffs remains the largest flat-rolled steel producer in North America, with a vertically integrated operation from raw materials to primary steelmaking.
Cleveland-Cliffs Inc. (NYSE: CLF) plans to offer $750 million in senior unsecured guaranteed notes due 2030, exempt from Securities Act registration requirements. The proceeds will be utilized to repay part of its existing asset-based revolving credit facility. The notes will be guaranteed by the company's significant domestic subsidiaries, excluding certain ones. This offering is limited to qualified institutional buyers.
Cleveland-Cliffs is the leading flat-rolled steel producer and iron ore pellet manufacturer in North America, operating since 1847 and employing around 27,000 people across the U.S. and Canada. The company is vertically integrated and serves various markets, including the automotive industry.
Cleveland-Cliffs Inc. (NYSE: CLF) has released its preliminary financial results for Q1 2023, reporting steel shipments of 4.1 million net tons and revenues of approximately $5.2 billion. Adjusted EBITDA is expected to be around $200 million, significantly higher than Q4 2022. CEO Lourenco Goncalves attributed this increase in profitability to unit cost reductions and the effect of price hikes for contracts with automotive and non-auto clients. The company anticipates that Q2 EBITDA will exceed Q1 by a multiple. Full earnings results will be disclosed on April 24, 2023, with a conference call on April 25, 2023, at 10:00 am ET.
Cleveland-Cliffs Inc. (NYSE: CLF) will announce its first-quarter 2023 earnings results after the U.S. market close on Monday, April 24, 2023. A conference call for investors and analysts will be held on Tuesday, April 25, 2023, at 10:00 am ET, available for live broadcast and replay on the company's website. Cleveland-Cliffs is the largest flat-rolled steel producer and manufacturer of iron ore pellets in North America, employing approximately 27,000 people. The company serves various markets, including a significant share in the automotive sector.
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Cleveland-Cliffs Inc. (NYSE: CLF) has announced a price increase for its carbon hot rolled, cold rolled, and coated steel products by a minimum of $100 per net ton, effective immediately for all new orders. The new base price for hot rolled steel is now $1,300 per net ton. This adjustment reflects the company's strategy to enhance market pricing in response to demand dynamics. Cleveland-Cliffs is North America's largest flat-rolled steel producer and iron ore pellet manufacturer, serving various industries, including automotive, with a workforce of approximately 27,000 employees.
Cleveland-Cliffs Inc. (NYSE: CLF) has been honored as a 2022 GM Supplier of the Year for the sixth consecutive year at GM's annual awards ceremony in San Antonio, Texas. This accolade recognizes suppliers for exceeding GM’s standards in areas such as quality, innovation, and supply chain management, reinforcing Cleveland-Cliffs' commitment to the automotive industry as North America's leading automotive steel supplier. Chairman, President, and CEO Lourenco Goncalves highlighted the company’s dedication to product quality and customer service, ensuring uninterrupted supply chain operations.
Cleveland-Cliffs Inc. (NYSE: CLF) recently conducted its third annual Souper Bowl Food Drive, collecting 240,000 pounds of non-perishable food. The company and its foundation donated a total of $500,000 to over 48 food distribution organizations, expected to provide more than 5.2 million meals to communities in the U.S. and Canada. Cleveland-Cliffs has committed $2.5 million over the last three years to combat food insecurity, reflecting its social responsibility efforts. As a leading steel producer and a significant employer in North America, the company emphasizes its role in addressing community needs.