Cliffs Natural Resources (NYSE: CLF) reported Q2 EPS of ($0.01), $0.05 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.17 billion.

Gary Halverson, Cliffs' President and Chief Executive Officer, said, "We continue to take prudent and decisive actions to optimize the business in the face of continued commodity pricing pressures, which have created a challenging business climate for Cliffs and our industry. During the quarter, our team cut costs across the board and significantly reduced our capital expenditures, while enhancing our liquidity by successfully amending our revolving credit facility. We remain focused on controlling what we can control in a volatile environment, and are confident we have the right strategy to operate and extract value from our assets."

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