Cleveland-Cliffs (CLF) Tops Q2 EPS by 12c

Cleveland-Cliffs (NYSE: CLF) reported Q2 EPS of $0.11, $0.12 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $5.1 billion versus the consensus estimate of $5.21 billion.

Outlook:

Cliffs is lowering its full-year 2024 expected capital expenditures range to $650 to $700 million from its previous expectation of $675 to $725 million.

In addition, the Company's objective of year-over-year steel unit cost reductions of approximately $30 per net ton remains on track.

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

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