Cleveland-Cliffs Predicts Q4 Revenue Miss & EBITDA Loss, CEO Applauds Trump's Tariffs For 2025 Boost

Cleveland-Cliffs Inc. (NYSE:CLF) shares are trading lower Monday after the company reported preliminary results.

For the fourth quarter of 2024, Cleveland-Cliffs expects steel shipments of 3.8 million net tons, with revenues of around $4.30 billion (vs. consensus of $4.49 billion).

Also, the company anticipates an adjusted EBITDA loss of about $85 million in the quarter.

For 2024, steel shipments are expected to reach 15.6 million net tons, with revenues around $19.2 billion (vs. street view of $19.37 billion) and adjusted EBITDA of around $775 million.

Including Stelco, the pro-forma adjusted EBITDA for 2024 is expected to be about $1.2 billion.

Cleveland-Cliffs attributed its weaker results, particularly in fourth-quarter, to subdued demand from the North American ...

Full story available on Benzinga.com