Recap: Cleveland-Cliffs Q2 Earnings

Shares of Cleveland-Cliffs CLF fell 3.6% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 570.97% over the past year to $1.46, which missed the estimate of $1.55.

Revenue of $5,045,000,000 up by 361.57% year over year, which missed the estimate of $5,090,000,000.

Guidance

Cleveland-Cliffs said it sees Q3 adjusted EBITDA of $1.8. billion.

Conference Call Details

Date: Jul 22, 2021

Time: 10:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=http%3A%2F%2Fwww.clevelandcliffs.com%2F&eventid=3081102&sessionid=1&key=19115A43698BF180E9C695F5D9CBA46E&regTag=&V2=false&sourcepage=register

Recent Stock Performance

Company's 52-week high was at $24.77

Company's 52-week low was at $5.16

Price action over last quarter: Up 13.57%

Company Description

Cleveland-Cliffs Inc is an independent iron ore mining company in the United States and is a supplier of iron ore pellets to the North American steel industry from its mines and processing facilities located in Michigan and Minnesota. It is also engaged in the production of Hot-Briquetted Iron in the Great Lakes region with the development of a production plant in Toledo, Ohio.