The steel maker reported weaker-than-expected earnings.
Cleveland-Cliffs (CLF) came out with a quarterly loss of $0.68 per share versus the Zacks Consensus Estimate of a loss of $0.65. This compares to loss of $0.05 per share a year ago.
CNBC's Pippa Stevens joins 'Closing Bell Overtime' with Cleveland-Cliffs quarterly results.
While CLF is expected to have benefited from actions to reduce costs, lower prices and weaker volumes are likely to have weighed on its Q4 performance.
In the latest trading session, Cleveland-Cliffs (CLF) closed at $11.98, marking a +1.1% move from the previous day.
Beyond analysts' top -and-bottom-line estimates for Cleveland-Cliffs (CLF), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2024.
Cleveland-Cliffs (CLF) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Cleveland-Cliffs (CLF) closed the most recent trading day at $11.48, moving +0.79% from the previous trading session.
President Trump's 25% tariffs on steel and aluminum are expected to benefit Cleveland-Cliffs, Nucor, and US Steel, with Cliffs poised for the largest gains. Cleveland-Cliffs' vertical integration, market leadership, and operational efficiency provide a competitive advantage, making it a compelling investment in the steel sector. CEO Lourenco Gonsalves' leadership and strong union relationships position Cliffs for growth, especially with the acquisition of Stelco and new transformer production.
Zacks.com users have recently been watching Cleveland-Cliffs (CLF) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Cleveland-Cliffs remains a Buy despite the failed U.S. Steel acquisition and falling steel prices, as fundamentals remain strong. The company's vertical model and Trump's 25% steel tariffs enhance competitiveness, particularly against foreign producers, offering long-term advantages. Financial results show a tough 2024 with a significant drop in steel prices, leading to negative cash flow and increased debt, but management remains optimistic.
Cleveland-Cliffs (CLF) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.