Cliffs Natural Resources (CLF) Posts Q1 EPS of 62c
Get Alerts CLF Hot Sheet
EPS Growth %: +263.6%
Financial Fact:
LESS: INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTEREST: 2M
Today's EPS Names:
DGICA, UXIN, TOWN, More
Join SI Premium – FREE
Cliffs Natural Resources (NYSE: CLF) reported Q1 EPS of $0.62, $0.81 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $306 million versus the consensus estimate of $280.92 million.
Outlook
Cliffs provides full-year expected revenues-per-ton ranges based on different assumptions of seaborne iron ore prices. Cliffs indicated that each different pricing assumption holds all other assumptions constant, including customer mix, as well as industrial commodity prices, freight rates, energy prices, production input costs and/or hot-band steel prices (all factors contained in certain of Cliffs' supply agreements).
The U.S. Iron Ore table further assumes full-year hot-band steel pricing of approximately $450 per short ton. The Company notes that this estimate is based on its customers' realized prices and not an index or spot market price. For every $50 per short ton change in the customers' hot-rolled steel prices, Cliffs U.S. Iron Ore revenue realizations per long ton would be expected to change by $2.00 if steel prices increase, and $1.50 if steel prices decrease.
For earnings history and earnings-related data on Cliffs Natural Resources (CLF) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cleveland Cliffs CEO Lourenco Goncalves on US Steel-Nippon Deal: The Deal Will Fail - CNBC Interview
- Cullen/Frost Bankers (CFR) Misses Q1 EPS by 3c
- PHINIA Inc. (PHIN) Reports Q1 EPS of $1.08, provides guidance
Create E-mail Alert Related Categories
Earnings, GuidanceRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!