On Thursday, July 22, Cleveland-Cliffs CLF will release its latest earnings report. Benzinga's outlook for Cleveland-Cliffs is included in the following report.
What Are Earnings, Net Income, And Earnings Per Share?
Earnings and especially earnings per share (EPS) are useful measures of a company's profitability. Total earnings, which is also referred to as net income, equals total revenue minus total expenses. EPS equals to net income divided by the number of shares outstanding.
Earnings And Revenue
Cleveland-Cliffs earnings will be near $1.55 per share on sales of $5.09 billion, according to analysts. In the same quarter last year, Cleveland-Cliffs announced EPS of $0.31 on revenue of $1.09 billion.
What Are Analyst Estimates And Earnings Surprises, And Why Do They Matter?
Analysts who cover this company will publish forward-looking estimates of its revenue and EPS each quarter. Averaging together every EPS and revenue prediction that each analyst makes about a company in a quarter yields the "consensus estimates." A company posting earnings or revenue above or below the consensus estimate is known as an "earnings surprise" and may move the stock by a considerable margin.
If the company were to report earnings in line when it publishes results Thursday, quarterly profit would be up 600.0%. Sales would be up 365.69% from the year-ago period. Here is how the company's reported EPS has stacked up against analyst estimates in the past:
| Quarter | Q1 2021 | Q4 2020 | Q3 2020 | Q2 2020 |
|---|---|---|---|---|
| EPS Estimate | 0.34 | 0.22 | -0.10 | -0.50 |
| EPS Actual | 0.35 | 0.14 | 0.04 | -0.31 |
| Revenue Estimate | 4.22 B | 2.34 B | 1.60 B | 1.08 B |
| Revenue Actual | 4.05 B | 2.26 B | 1.65 B | 1.09 B |
Want Real-Time Earnings Calendar Updates?
Benzinga consistently updates its earnings calendars to stay up-to-date with the latest company earnings reports. Check out the full earnings calendar list updated in real-time by following this link.
Stock Performance
Over the last 52-week period, shares are up 253.83%. Given that these returns are generally positive, long-term shareholders can relax going into this earnings release. Long-term shareholders are already enjoying 12-month gains prior to the announcement.
Do not be surprised to see the stock move on comments made during its conference call. Cleveland-Cliffs is scheduled to hold the call at 10:00:00 ET and can be accessed here.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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