Recent Updates — CLF

Cleveland-Cliffs Inc. reported third-quarter 2026 results with revenues of $5.6 billion and GAAP net income of $165 million, or $0.26 per diluted share. This marks a significant turnaround from the second quarter's $134 million loss. Adjusted EBITDA reached $612 million, exceeding prior guidance of $575 million, driven by improved average selling prices and sales volumes. The company reported steel shipments of 4.2 million net tons and ended the quarter with $3.2 billion in liquidity. Management expects fourth-quarter adjusted EBITDA to rise to approximately $715 million and anticipates full-year 2027 adjusted EBITDA to exceed $4 billion. Cleveland-Cliffs is a leading North American steel producer vertically integrated from iron ore mining through downstream finishing.

Cleveland-Cliffs Inc. appointed Celso L. Goncalves Jr. as President and Chief Financial Officer, effective July 21, 2026. Lourenco Goncalves will remain as Chairman and CEO, but will no longer hold the title of President. Celso Goncalves's annual base salary was increased to $1,000,000 from $800,000. Cleveland-Cliffs Inc. is a steel producer and mining company.

Cleveland-Cliffs Inc. reported second-quarter 2026 results with revenues of $5.2 billion, a $300 million increase from the prior quarter. The company recorded a GAAP net loss of $134 million, or $0.25 per diluted share, and an adjusted net loss of $115 million. Adjusted EBITDA of $286 million represented a significant improvement over the first quarter. Cleveland-Cliffs is a North America-based steel producer focused on value-added sheet products for the automotive industry.