Cleveland-Cliffs (NYSE: CLF) reported Q4 EPS of $2.03, versus $0.60 reported last year. Revenue for the quarter came in at $696 million versus the consensus estimate of $731.24 million.

• Fourth-quarter net income of $610 million
• Fourth-quarter earnings from continuing operations of $2.03 per diluted share
• Fourth-quarter 2018 consolidated revenues were $696 million, compared to prior-year fourth-quarter revenues of $512 million. Cost of goods sold and operating expenses were $494 million, compared to $396 million reported in the fourth quarter of 2017.
• For the fourth quarter of 2018, the Company recorded net income of $610 million, compared to net income of $310 million recorded in the prior-year quarter.
• Fourth-quarter 2018 Adjusted EBITDA1 was $188 million, a 40 percent increase compared to $134 million in the fourth quarter of 2017.

Lourenco Goncalves, Chairman, President and Chief Executive Officer, said: “2018 was another great year for Cleveland-Cliffs. With over $1.1 billion in net income and a 67% increase in EBITDA year-over-year, we are proud to confirm that our strategic vision for the Company has been fully implemented and is working very well. Transformations of this magnitude are complex, and can only be accomplished with a complete buy-in from all employees, managers, executives and directors. Our results confirm what we have accomplished here at Cleveland-Cliffs.” Mr. Goncalves added, "2019 will be an even more exciting year for us. Our Mining and Pelletizing business will be once again sold out, and we look to produce yet another year of great results selling world class pellets at industry-high margins.” Mr. Goncalves concluded, "Cleveland-Cliffs is seriously committed to the safety of our employees and of the communities surrounding our operations, preserving the environment and fighting climate change. Our commitment to these non-negotiable points is an integral part of our daily work. Our contribution as a supplier of environmentally friendly pellets and HBI makes Cliffs and the United States the models that other companies and other countries should follow. In 2019 we will make these points abundantly clear and fully understood by the American people."

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