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

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

Cleveland-Cliffs Reports Second-Quarter 2023 Results

July 24, 2023 4:11 PM EDT

CLEVELAND--(BUSINESS WIRE)-- Cleveland-Cliffs Inc. (NYSE: CLF) today reported second-quarter results for the period ended June 30, 2023.

Selected financial results for the second quarter of 2023 include:

Revenues of $6.0 billion Steel shipments of 4.2 million net tons Net income of $356 million Adjusted EBITDA1 of $775 million Cash flow from operations of $887 million Free cash flow2 of $756 million Net debt3 down to $3.9 billion Total liquidity of $3.8 billion, highest in Company history

Second-quarter 2023 revenues were $6.0 billion, compared to $5.3 billion in the first quarter... More