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) has completed the acquisition of ArcelorMittal USA, establishing itself as the largest flat-rolled steel producer in North America. The transaction is valued at approximately $183 million and enhances the company's operational capabilities and market share, aiming for pro-forma revenues of about $17 billion and adjusted EBITDA of $1.7 billion in 2019. The acquisition also secures 100% ownership of I/N Tek and I/N Kote, contributing a combined $121 million to adjusted EBITDA in 2019. CEO Lourenco Goncalves emphasized the strategic importance of this merger for supporting American manufacturing and infrastructure.
Cleveland-Cliffs Inc. (NYSE: CLF) announced the early termination of the waiting period by the Federal Trade Commission for its acquisition of ArcelorMittal USA. This clearance signals a significant milestone toward finalizing the deal, expected in December 2020. Chairman Lourenco Goncalves expressed optimism about integrating ArcelorMittal USA's operations, emphasizing the potential for improved efficiency and market leadership in flat-rolled steel production in North America. The acquisition remains subject to customary closing conditions.
Cleveland-Cliffs Inc. (NYSE: CLF) commended President Trump for taking measures to preserve 1,400 jobs at AK Steel's Pennsylvania and Ohio facilities. The actions involve enforcing Section 232 tariffs on imported laminations and cores of Grain Oriented Electrical Steel (GOES), crucial for electric transformers. AK Steel is the only GOES producer in the U.S., with an annual capacity of 250,000 net tons. Cleveland-Cliffs appreciates Congressional support and emphasizes the significance of these actions for national security and economic stability.
Cleveland-Cliffs Inc. (NYSE: CLF) reported its third-quarter 2020 results, with total revenues of $1.6 billion, a significant increase from $556 million in Q3 2019. Despite this growth, the company posted a net loss of $2 million or $0.02 per diluted share, influenced by $22 million in acquisition costs. For the first nine months of 2020, Cliffs recorded a net loss of $155 million, compared to a net income of $230 million in 2019. The company generated $246 million in cash from operations, yielding $150 million in free cash flow during the third quarter.
Cleveland-Cliffs Inc. (NYSE: CLF) is set to report its third-quarter 2020 financial results on October 23, 2020, before the U.S. market opens. A live conference call for analysts and investors will follow, allowing for discussions about the results.
The call will be hosted by Lourenco Goncalves, CEO, and Keith Koci, CFO, at 10:00 a.m. ET. Interested parties can access the call live or retrieve the archived version through the company's official website.
Cleveland-Cliffs Inc. (NYSE: CLF) has entered a definitive agreement to acquire ArcelorMittal USA LLC for approximately $1.4 billion. This transaction positions Cleveland-Cliffs as the largest flat-rolled steel producer and iron ore pellet producer in North America. The acquisition will be executed on a cash-free and debt-free basis, incorporating 78.2 million shares, $373 million in preferred stock, and $505 million in cash. Expected benefits include $150 million in annual cost savings and a reduction in leverage from 4.3x to 3.6x on a pro-forma basis.