Cleveland-Cliffs (CLF) Reports In-Line Q3 EPS, Misses on Revenue, Offers Guidance

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Cleveland-Cliffs Reports Third-Quarter 2025 Results

October 20, 2025 6:00 AM EDT

CLEVELAND--(BUSINESS WIRE)-- Cleveland-Cliffs Inc. (NYSE: CLF) today reported third-quarter results for the period ended September 30, 2025.

Third-Quarter Consolidated Results

Steel shipments of 4.0 million net tons Revenues of $4.7 billion GAAP net loss of $234 million and Adjusted net loss1 of $223 million, or $0.45 per diluted share Adjusted EBITDA2 of $143 million Liquidity of $3.1 billion as of September 30, 2025

Third-quarter 2025 consolidated revenues were $4.7 billion, compared to $4.9 billion in the second quarter of 2025. For the third quarter of 2025, the Company recorded a GAAP net... More