CLF Stock - Cleveland-Cliffs Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $19.18B | $22.00B | $22.99B | $20.44B | $5.35B |
| Gross Profit | $70.00M | $1.39B | $2.52B | $4.53B | $252.00M |
| Gross Margin | 0.4% | 6.3% | 11.0% | 22.2% | 4.7% |
| Operating Income | $-756,000,000 | $677.00M | $1.94B | $4.01B | $-142,000,000 |
| Net Income | $-754,000,000 | $399.00M | $1.33B | $2.99B | $-122,000,000 |
| Net Margin | -3.9% | 1.8% | 5.8% | 14.6% | -2.3% |
| EPS | $-1.57 | $0.78 | $2.57 | $5.62 | $-0.32 |
Cleveland-Cliffs Inc. operates as a flat-rolled steel producer in North America. The company offers carbon steel products, such as hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, hot-dip galvannealed, aluminized, enameling, and advanced high-strength steel products; stainless steel products; plates; and grain oriented and non-oriented electrical steel products. It also provides tubular components, including carbon steel, stainless steel, and electric resistance welded tubing. In addition, the company offers tinplate products, such as electrolytic tin coated and chrome coated sheet, and tin mill products; tooling and sampling; raw materials; ingots, rolled blooms, and cast blooms; and hot-briquetted iron products. Further, it owns five iron ore mines in Minnesota and Michigan. The company serves automotive, infrastructure and manufacturing, distributors and converters, and steel producers. Cleveland-Cliffs Inc. was formerly known as Cliffs Natural Resources Inc. and changed its name to Cleveland-Cliffs Inc. in August 2017. The company was founded in 1847 and is headquartered in Cleveland, Ohio.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| November 14th 2025 | Wells Fargo | Upgrade | Equal Weight | - |
| October 21st 2025 | Wells Fargo | Downgrade | Underweight | $11 |
| August 14th 2025 | Wells Fargo | Initiation | Equal Weight | $10 |
| July 22nd 2025 | KeyBanc Capital Markets | Upgrade | Overweight | $14 |
| May 29th 2025 | Jefferies | Downgrade | Hold | $6 |
| December 2nd 2024 | Goldman | Initiation | Buy | $16 |
| August 27th 2024 | Seaport Research Partners | Upgrade | Buy | $16.5 |
| June 11th 2024 | JP Morgan | Downgrade | Neutral | $17← $23 |
| May 20th 2024 | Jefferies | Initiation | Buy | $22 |
| April 9th 2024 | Wolfe Research | Downgrade | Underperform | $18 |
| March 13th 2024 | Citigroup | Downgrade | Neutral | $22 |
| February 28th 2024 | Exane BNP Paribas | Downgrade | Underperform | $16.5 |
| February 15th 2024 | Morgan Stanley | Downgrade | Equal Weight | $20← $21.5 |
| February 9th 2024 | JP Morgan | Resumed | Overweight | $24 |
| February 8th 2024 | Argus | Downgrade | Hold | - |
Earnings History & Surprises
CLFEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q1 2026 | Feb 23, 2026 | $-0.54 | — | — | — |
Q4 2025 | Oct 20, 2025 | $-0.48 | $-0.45 | +6.2% | ✓ BEAT |
Q3 2025 | Jul 21, 2025 | $-0.68 | $-0.50 | +26.5% | ✓ BEAT |
Q2 2025 | May 7, 2025 | $-0.83 | $-0.92 | -11.5% | ✗ MISS |
Q1 2025 | Feb 24, 2025 | $-0.65 | $-0.68 | -4.6% | ✗ MISS |
Q4 2024 | Nov 4, 2024 | $-0.31 | $-0.33 | -6.5% | ✗ MISS |
Q3 2024 | Jul 22, 2024 | $0.06 | $0.11 | +100.0% | ✓ BEAT |
Q2 2024 | Apr 22, 2024 | $0.22 | $0.18 | -17.9% | ✗ MISS |
Q1 2024 | Jan 29, 2024 | $-0.07 | $-0.05 | +28.6% | ✓ BEAT |
Q4 2023 | Oct 23, 2023 | $0.43 | $0.52 | +20.9% | ✓ BEAT |
Q3 2023 | Jul 24, 2023 | $0.69 | $0.67 | -2.9% | ✗ MISS |
Q2 2023 | Apr 24, 2023 | $-0.21 | $-0.11 | +47.6% | ✓ BEAT |
Q1 2023 | Feb 13, 2023 | $-0.33 | $-0.30 | +9.1% | ✓ BEAT |
Q4 2022 | Oct 25, 2022 | $0.55 | $0.29 | -47.3% | ✗ MISS |
Q3 2022 | Jul 22, 2022 | $1.32 | $1.13 | -14.4% | ✗ MISS |
Q2 2022 | Apr 22, 2022 | $1.41 | $1.50 | +6.4% | ✓ BEAT |
Q1 2022 | Feb 11, 2022 | $2.12 | $1.69 | -20.3% | ✗ MISS |
Q4 2021 | Oct 22, 2021 | $2.26 | $2.33 | +3.1% | ✓ BEAT |
Q3 2021 | Jul 22, 2021 | $1.52 | $1.32 | -13.2% | ✗ MISS |
Q2 2021 | Apr 22, 2021 | $0.33 | $0.35 | +6.1% | ✓ BEAT |
Latest News
White House Says Trump Signs Proclamation To Give 'Regulatory Relief' For Certain Stationary Sources To Promote American Coke Oven Processing Security
➖ NeutralSunCoke Energy And Cleveland-Cliffs Agreed To A 3-Year Extension Of Their Cokemaking Agreement; SunCoke To Provide 500 Thousand Tons Of Metallurgical Coke Annually To Cleveland-Cliffs
📈 PositiveWells Fargo Upgrades Cleveland-Cliffs to Equal-Weight, Raises Price Target to $12
📈 PositiveCitigroup Maintains Neutral on Cleveland-Cliffs, Lowers Price Target to $11
📉 NegativeKeybanc Maintains Overweight on Cleveland-Cliffs, Lowers Price Target to $13
➖ NeutralGoldman Sachs Maintains Buy on Cleveland-Cliffs, Raises Price Target to $16
📈 PositiveCNBC Halftime Report Final Trades: Rocket Companies, Meta Platforms, Cleveland-Cliffs, Bristol-Myers Squibb
➖ NeutralCleveland-Cliffs names Korea's Posco as new strategic partner
📈 PositiveCleveland-Cliffs Announces POSCO As Strategic Partner Under Transformative MoU; U.S.-Korea Trade Pact Strengthens Industrial Collaboration
📈 PositiveCleveland-Cliffs stock dips after pricing offering to raise $964 million
📉 NegativeCleveland-cliffs Priced Its Underwritten Public Offering Of 75M Shares, Par Value $0.125 Per Share For Expected Gross Proceeds Of $964M
➖ NeutralCleveland-Cliffs shares are trading lower after the company announced a proposed offering of 75 million common shares.
📉 NegativeCleveland-Cliffs Files For Mixed Shelf Offering, Size Not Disclosed
➖ NeutralCleveland-Cliffs shares are trading lower after the company announced a proposed offering of 75 million common shares.
📉 NegativeCleveland-Cliffs Announces Proposed Offering Of 75M Common Shares
📉 NegativeCleveland-Cliffs Completes Production Trial In Collaboration With Automotive OEM, Stamping Exposed Steel Using OEM's Aluminum Equipment
📈 PositiveKeybanc Maintains Overweight on Cleveland-Cliffs, Raises Price Target to $15
📈 PositiveCleveland-Cliffs surrenders previous day's gain as Wells Fargo cuts to Sell equivalent
📉 NegativeGLJ Research Reiterates Sell on Cleveland-Cliffs, Maintains $5.75 Price Target
📉 NegativeLive On CNBC, Jim Lebenthal Announces Buying More Cleveland-Cliffs Right Now
📈 PositiveFrequently Asked Questions about CLF
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