Cleveland-Cliffs (CLF) Misses Q1 EPS by 25c; offers outlook

Cleveland-Cliffs (NYSE: CLF) reported Q1 EPS of ($0.92), $0.25 worse than the analyst estimate of ($0.67). Revenue for the quarter came in at $4.63 billion versus the consensus estimate of $4.68 billion.

Outlook

The Company updated or maintained previously guided expectations for the full-year 2025, including:

Steel unit cost reductions of approximately $50 per net ton compared to 2024, from its previous expectation of a reduction of approximately $40 per net ton — due primarily to the idling of underperforming assets
Capital expenditures of approximately $625 million, from its previous expectation of $700 million
Selling, general and administrative expenses of approximately $600 million, from its previous expectation of approximately $625 million
Depreciation, depletion and amortization maintained at approximately $1.1 billion
Cash Pension and OPEB payments and contributions maintained at approximately $150 million

For earnings history and earnings-related data on Cleveland-Cliffs (CLF) click here.

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