Welcome to our dedicated page for Cleveland-Cliffs news (Ticker: CLF), a resource for investors and traders seeking the latest updates and insights on Cleveland-Cliffs stock.
Cleveland-Cliffs Inc. reports developments in its North American flat-rolled steel and iron ore pellet business, including earnings releases, steel shipment trends and product mix across hot-rolled, coated, cold-rolled, plate, stainless and electrical steel. Company updates also address automotive customer demand, trade-enforcement conditions, cost controls, debt maturity actions and capital spending within its vertically integrated steelmaking footprint.
Recurring news also covers technology and governance developments, including enterprise AI deployment for production planning, order entry and operational workflows, board appointments and committee leadership changes. Strategic and commercial updates are framed around Cliffs’ role as a steel supplier to the North American automotive industry and its integrated chain from mined raw materials, direct reduced iron and scrap through finishing, stamping, tooling and tubing.
Cleveland-Cliffs Inc. (NYSE: CLF) announced a tentative 4-year labor contract with United Steelworkers (USW) effective September 1, 2022, covering approximately 12,000 employees across multiple facilities in Indiana, Pennsylvania, Ohio, Illinois, West Virginia, and Minnesota. CEO Lourenco Goncalves emphasized the importance of employees and the partnership with USW while maintaining a competitive cost structure. The agreement is pending ratification by USW local union memberships.
Cleveland-Cliffs Inc. (NYSE: CLF) has announced an increase in spot market base prices for carbon steel products by at least $75 per ton, effective immediately for new orders in North America. This price adjustment applies to all categories, including hot rolled, cold rolled, and coated steel. Cleveland-Cliffs is recognized as the largest flat-rolled steel producer and iron ore pellet manufacturer in North America, with significant operations in both the United States and Canada, employing approximately 27,000 people.
Cleveland-Cliffs reported second-quarter 2022 revenue of $6.3 billion, up from $5.0 billion year-over-year. The company achieved a net income of $601 million or $1.13 per diluted share, despite one-time charges totaling $95 million. Adjusted EBITDA for the quarter was $1.1 billion, down from $1.4 billion in Q2 2021. Steelmaking revenues reached $6.2 billion, with external sales volumes at 3.6 million net tons. The company anticipates strong automotive demand and pricing improvements in the latter half of the year.
Cleveland-Cliffs Inc. (NYSE: CLF) will announce its Q2 2022 earnings results on July 22, 2022, before the U.S. market opens. A live conference call will take place on the same day at 10:00 am ET to discuss the earnings with analysts and investors. Interested parties can access the call via www.clevelandcliffs.com and it will be archived for later replay. Cleveland-Cliffs is the largest flat-rolled steel producer and iron ore pellet manufacturer in North America, serving various markets including the automotive industry.
Cleveland-Cliffs Inc. (NYSE: CLF) has been named to the Fortune 500 list for the first time, ranking 171 due to a significant revenue increase to $20.4 billion in 2021, up from $2 billion in 2019. This marks a tenfold growth in just two years, despite challenges from the COVID-19 pandemic. The company is now the largest flat-rolled steel producer and steel supplier to the automotive sector in North America. Cleveland-Cliffs employs approximately 26,000 people, with nearly 20,000 in union representation, highlighting the company’s strong workforce and support during its transformation.
Cleveland-Cliffs Inc. (NYSE: CLF) has committed over $1 million to combat food insecurity through its philanthropic arm, The Cleveland-Cliffs Foundation, since 2022. The foundation has pledged $100,000 to World Central Kitchen to aid Ukraine amid its humanitarian crisis. Collaborating with over 50 food organizations across 55 U.S. communities and Ontario, the Company’s initiatives are projected to provide over 10 million meals. CEO Lourenco Goncalves highlights the importance of addressing food supply chain disruptions exacerbated by recent global events.
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Cleveland-Cliffs Inc. (NYSE: CLF) reported substantial first-quarter results for 2022, with revenues reaching $6.0 billion, up from $4.0 billion in the same period last year. The company achieved a net income of $801 million, or $1.50 per diluted share, despite $111 million in non-cash charges. Adjusted EBITDA grew to $1.5 billion, compared to $513 million in Q1 2021. Cliffs also plans to increase its average selling price forecast for 2022 to $1,445 per net ton, citing strong contract renewals and market conditions.
Cleveland-Cliffs Inc. (NYSE: CLF) will announce its first-quarter 2022 earnings results before the U.S. market opens on April 22, 2022.
Following the earnings release, a live conference call is scheduled for 10:00 am ET on the same day, allowing analysts and investors to discuss the results. The call can be accessed via the company's website, where it will also be archived for replay.
Cleveland-Cliffs is North America's largest flat-rolled steel producer and iron ore pellets manufacturer, employing approximately 26,000 people across the U.S. and Canada.