Cleveland-Cliffs (CLF) Reports Q1, Announces $1.5B Share Buyback
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Cleveland-Cliffs Reports First-Quarter 2024 Results and Announces New $1.5 Billion Share Repurchase Program
April 22, 2024 4:05 PM EDTCLEVELAND--(BUSINESS WIRE)-- Cleveland-Cliffs Inc. (NYSE: CLF) today reported first-quarter results for the period ended March 31, 2024.
First Quarter 2024 Highlights
Repurchased 30.4 million shares, or 6% of total outstanding Revenues of $5.2 billion Steel shipments of 3.9 million net tons GAAP net loss of $53 million and adjusted net income1 of $87 million Adjusted EPS1 of $0.18 per diluted share Adjusted EBITDA2 of $414 million 70% Adjusted EBITDA2 improvement year-over-year and 48% increase quarter-over-quarter Liquidity of $4.0 billion as of March 31, 2024 Retired all remaining secured... More