Cleveland-Cliffs shares drop as steel market pressures weigh on Q3 earnings
Cleveland-Cliffs Inc. (NYSE:CLF) shares slipped more than 10% after its latest quarterly earnings highlighted pressures in the steel market. During the third quarter of 2024, the company saw a decline in EBITDA, increased net debt, and a reduction in capital expenditure plans amid challenging conditions in the automotive sector.
Why Cleveland-Cliffs Stock Sank Today
The auto sector is hurting Cleveland-Cliffs right now.
Cleveland-Cliffs Earnings Show Why Both Trump and Harris Are Wrong on the U.S. Steel Merger
Smaller commodity producers have a tough time staying profitable during downturns.
Cleveland-Cliffs Inc. (CLF) Q3 2024 Earnings Call Transcript
Cleveland-Cliffs Inc. (NYSE:CLF ) Q3 2024 Earnings Conference Call November 4, 2024 8:30 AM ET Company Participants Lourenco Goncalves - Chairman, President & CEO Celso Goncalves - EVP & CFO Conference Call Participants Lucas Pipes - B. Riley Securities Lawson Winder - Bank of America Carlos De Alba - Morgan Stanley William Peterson - JPMorgan Alexander Hacking - Citigroup Chris LaFemina - Jefferies Philip Gibbs - KeyBanc Capital Markets Operator Good morning, ladies and gentlemen.
Steel Stock Slides as Results Disappoint
Cleveland-Cliffs Inc (NYSE:CLF) stock is plummeting today, down 11.3% at $11.63 at last glance, after the company's disappointing third-quarter report.
Watch CNBC's full interview with Cleveland-Cliffs CEO Lourenco Goncalves
Cleveland-Cliffs Chairman and CEO Lourenco Goncalves joins CNBC's Morgan Brennan to discuss the company's newly closed $2.8 billion acquisition of Canadian steelmaker Stelco, the strategic importance of North American manufacturing, and his views on steel tariffs and Chinese competition. Goncalves also shares insights on automotive industry relationships and his outlook for 2025, while addressing the ongoing US Steel-Nippon deal review.
Gear Up for Cleveland-Cliffs (CLF) Q3 Earnings: Wall Street Estimates for Key Metrics
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Cleveland-Cliffs (CLF), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended September 2024.
Cleveland-Cliffs (CLF) Laps the Stock Market: Here's Why
Cleveland-Cliffs (CLF) reachead $13.72 at the closing of the latest trading day, reflecting a +0.37% change compared to its last close.
Cleveland-Cliffs to Post Q3 Earnings: What's in Store for the Stock?
CLF is expected to have benefited from lower steelmaking unit costs and healthy overall volumes amid headwinds from lower steel prices in Q3.
Why Is Cleveland-Cliffs Stock Down 30% In Six Months?
Cleveland-Cliffs, a vertically integrated steel mill operator, has seen its stock decline by more than 30% in the last six months. This fall has been primarily due to the adverse business conditions that the industry is going through.
Cleveland-Cliffs (CLF) Declines More Than Market: Some Information for Investors
Cleveland-Cliffs (CLF) reachead $13.46 at the closing of the latest trading day, reflecting a -1.32% change compared to its last close.
Cleveland-Cliffs (CLF) Registers a Bigger Fall Than the Market: Important Facts to Note
Cleveland-Cliffs (CLF) closed the most recent trading day at $12.88, moving -1.3% from the previous trading session.
