Cleveland-Cliffs (CLF) Q2 Revenue Tops Consensus

Cleveland-Cliffs (NYSE: CLF) reported Q2 EPS of $1.13, may not compare to the analyst estimate of $1.31. Revenue for the quarter came in at $6.3 billion versus the consensus estimate of $6.08 billion.

• This included the following one-time charges totaling $95 million, or $0.18 per diluted share:

Outlook:

Based on the current 2022 futures curve, which implies an average hot-rolled coil steel index price of $850 per net ton for the remainder of the year, the Company would expect its full-year 2022 average selling price to be approximately $1,410 per net ton. This incorporates the Company's expectation of substantial increases in fixed price contracts resetting on October 1, 2022.

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

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