Cliffs Natural Resources Inc. Reports Third-Quarter 2015 Results
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Cliffs Natural Resources (CLF) Posts Narrower-than-Expected Q3 Loss; Boosts Iron Ore Pricing Outlook
October 29, 2015 8:27 AM EDTCliffs Natural Resources (NYSE: CLF) reported Q3 EPS of ($0.10), $0.15 better than the analyst estimate of ($0.25). Revenue for the quarter came in at $593 million versus the consensus estimate of $595.78 million.
Lourenco Goncalves, Cliffs' Chairman, President and Chief Executive Officer, said, "Our performance this past quarter illustrates how far we have come in our turnaround story. We have been able to deliver significant cost reductions in all areas of the business through disciplined execution of the strategy instituted last year." Mr. Goncalves added, "We expect the domestic steel market to improve in 2016 as... More
