Cleveland-Cliffs Q2 Revenue Beats, Loss Narrows; Guides Q3 EBITDA to $575M
CLF sits 31% above its 52-week low of $7.73.
Summary
Cleveland-Cliffs posted Q2 revenue of $5.20B, edging past the $5.19B consensus, while adjusted loss per share of $0.20 met expectations. Adjusted EBITDA tripled sequentially to roughly $345M, driven by higher automotive volumes and selling prices. Management guided Q3 adjusted EBITDA to approximately $575M and reiterated full-year steel shipment guidance of 16.5–17.0 million net tons, calling for the strongest second-half earnings since 2021. The results confirm a sharp demand recovery in automotive and improving domestic steel market conditions. With the stock at $9.45 and a median analyst target of $10.75, the strong Q3 guide could prompt upward estimate revisions. The revenue climb was supported by continued steel demand.
At the time of this announcement, CLF was trading at $10.10 on NYSE in the Manufacturing sector, with a market capitalization of approximately $5.4B. The 52-week trading range was $7.73 to $16.70. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.