Cliffs Guides FY2027 EBITDA Above $4B After Q3 Beat, Shares Jump 15.7%
CLF sits 82% above its 52-week low of $7.73 on elevated volume (2.9× avg).
Summary
Cleveland-Cliffs posted Q3 GAAP net income of $152M ($0.26/share), a swing from a $251M loss a year ago, on revenue of $5.61B, up 18.5% Y/Y though slightly below consensus. Adjusted EBITDA of $612M beat the company's own $575M guidance, and adjusted EPS of $0.28 topped the $0.19 consensus. The bigger news is forward guidance: Q4 adjusted EBITDA of about $715M versus $697.5M consensus, and FY2027 adjusted EBITDA expected to exceed $4B — the best year since 2021 — on new contracts and index price forecasts. CEO Lourenco Goncalves credited Trump administration trade policy and said imports remain well below historical levels with extended lead times. He also blamed Canada's government for the Stelco layoffs in Ontario, saying the country's tariff-rate quota system hasn't curbed galvanized steel imports; he held out restarting Hamilton production if Canada addresses that. Shares rose 15.7% Monday. This follows the 8-K filed this morning and the earlier Benzinga report on the EPS beat, adding the 2027 outlook and call commentary.
At the time of this announcement, CLF was trading at $14.05 on NYSE in the Manufacturing sector, with a market capitalization of approximately $8B. 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: Seeking Alpha.