Cleveland-Cliffs CLF is set to give its latest quarterly earnings report on Monday, 2024-01-29. Here's what investors need to know before the announcement.
Analysts estimate that Cleveland-Cliffs will report an earnings per share (EPS) of $-0.04.
Cleveland-Cliffs bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Historical Earnings Performance
Last quarter the company beat EPS by $0.11, which was followed by a 8.91% increase in the share price the next day.
Here's a look at Cleveland-Cliffs's past performance and the resulting price change:
| Quarter | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|
| EPS Estimate | 0.43 | 0.70 | -0.19 | -0.3 |
| EPS Actual | 0.54 | 0.69 | -0.11 | -0.3 |
| Price Change % | 8.91% | 6.48% | -5.8% | 1.49% |
Stock Performance
Shares of Cleveland-Cliffs were trading at $18.41 as of January 25. Over the last 52-week period, shares are down 12.91%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release.
To track all earnings releases for Cleveland-Cliffs visit their earnings calendar on our site.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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