Cleveland-Cliffs Inc Stock Price, News & Analysis

Cleveland-Cliffs reported second-quarter 2022 revenue of $6.3 billion, up from $5.0 billion year-over-year. The company achieved a net income of $601 million or $1.13 per diluted share, despite one-time charges totaling $95 million. Adjusted EBITDA for the quarter was $1.1 billion, down from $1.4 billion in Q2 2021. Steelmaking revenues reached $6.2 billion, with external sales volumes at 3.6 million net tons. The company anticipates strong automotive demand and pricing improvements in the latter half of the year.

Cleveland-Cliffs Inc. (NYSE: CLF) will announce its Q2 2022 earnings results on July 22, 2022, before the U.S. market opens. A live conference call will take place on the same day at 10:00 am ET to discuss the earnings with analysts and investors. Interested parties can access the call via www.clevelandcliffs.com and it will be archived for later replay. Cleveland-Cliffs is the largest flat-rolled steel producer and iron ore pellet manufacturer in North America, serving various markets including the automotive industry.

Cleveland-Cliffs Inc. (NYSE: CLF) has been named to the Fortune 500 list for the first time, ranking 171 due to a significant revenue increase to $20.4 billion in 2021, up from $2 billion in 2019. This marks a tenfold growth in just two years, despite challenges from the COVID-19 pandemic. The company is now the largest flat-rolled steel producer and steel supplier to the automotive sector in North America. Cleveland-Cliffs employs approximately 26,000 people, with nearly 20,000 in union representation, highlighting the company’s strong workforce and support during its transformation.

Cleveland-Cliffs Inc. (NYSE: CLF) has committed over $1 million to combat food insecurity through its philanthropic arm, The Cleveland-Cliffs Foundation, since 2022. The foundation has pledged $100,000 to World Central Kitchen to aid Ukraine amid its humanitarian crisis. Collaborating with over 50 food organizations across 55 U.S. communities and Ontario, the Company’s initiatives are projected to provide over 10 million meals. CEO Lourenco Goncalves highlights the importance of addressing food supply chain disruptions exacerbated by recent global events.

Cleveland-Cliffs Inc. (NYSE: CLF) reported substantial first-quarter results for 2022, with revenues reaching $6.0 billion, up from $4.0 billion in the same period last year. The company achieved a net income of $801 million, or $1.50 per diluted share, despite $111 million in non-cash charges. Adjusted EBITDA grew to $1.5 billion, compared to $513 million in Q1 2021. Cliffs also plans to increase its average selling price forecast for 2022 to $1,445 per net ton, citing strong contract renewals and market conditions.

Cleveland-Cliffs Inc. (NYSE: CLF) will announce its first-quarter 2022 earnings results before the U.S. market opens on April 22, 2022.

Following the earnings release, a live conference call is scheduled for 10:00 am ET on the same day, allowing analysts and investors to discuss the results. The call can be accessed via the company's website, where it will also be archived for replay.

Cleveland-Cliffs is North America's largest flat-rolled steel producer and iron ore pellets manufacturer, employing approximately 26,000 people across the U.S. and Canada.

Cleveland-Cliffs Inc. (NYSE: CLF) has expanded its marketing agreement with the Cleveland Cavaliers, marking a significant partnership that includes the Cliffs logo on player jerseys beginning the 2022-23 NBA season. This collaboration highlights Cliffs' deep-rooted presence in the Great Lakes Region and its commitment to community engagement. The company will also contribute $500,000 to local Boys & Girls Clubs, emphasizing its dedication to positive regional impact.