Cliffs Natural Resources (CLF) Tops Q4 EPS by 2c, Sales Miss

Cliffs Natural Resources (NYSE: CLF) reported Q4 EPS of ($0.24), $0.02 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $470.6 million versus the consensus estimate of $496.21 million.

• Achieves fourth-quarter Adjusted EBITDA1 of $76 million
• Realizes significant year-over-year cost savings
  • U.S. Iron Ore cash production costs3 decrease 23 percent to $45 per ton in the fourth quarter
  • Asia Pacific Iron Ore cash production costs3 decrease 40 percent to $26 per ton in the fourth quarter

Lourenco Goncalves, Cliffs' Chairman, President and Chief Executive Officer, said, "Despite the severely negative impacts of global iron ore and domestic steel prices, in 2015 we achieved substantial cost reductions in all areas of the business." He added, "On top of an outstanding year of operating performance, we checked a number of boxes in line with our U.S. pellet-centric strategy, most recently with the full divestiture of our North American Coal business."

For earnings history and earnings-related data on Cliffs Natural Resources (CLF) click here.

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