Cleveland-Cliffs (CLF) Misses Q2 EPS by 4c

Cleveland-Cliffs (NYSE: CLF) reported Q2 EPS of $0.67, $0.04 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $6 billion versus the consensus estimate of $5.81 billion.

The Company\'s previously laid out cost reduction objectives remain on target, and Cliffs currently expects another $40 per net ton reduction in steel unit costs from the second quarter to the third quarter of 2023, with an additional $10 per ton reduction from the third to the fourth quarter of 2023.For earnings history and earnings-related data on Cleveland-Cliffs (CLF) click here.

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