Company Of The Day: Cleveland-Cliffs

+29.73%
Upside
14.86
Market
19.28
Trefis
CLF: Cleveland-Cliffs logo
CLF
Cleveland-Cliffs

What?

Cleveland-Cliffs (NYSE:CLF) posted a weaker-than-expected set of Q3 2022 results. Revenue fell by 5% year-over-year to $5.7 billion, and earnings per share stood at $0.30, down from $2.45 in the year-ago period.

Why?

Relevant Articles
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  6. What To Expect From Cleveland-Cliffs Q3 Results?

The company is witnessing softening demand and sequentially weaker pricing. Over Q3, total external sales volumes declined by about 13% year-over-year to 3.635 million net tons.

So What?

CLF stock has declined by about 5% since the earnings release on Tuesday.

See Our Complete Analysis For Cleveland-Cliffs

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Returns Oct 2022
MTD [1]
2022
YTD [1]
2017-22
Total [2]
 CLF Return 10% -32% 76%
 S&P 500 Return 7% -20% 71%
 Trefis Multi-Strategy Portfolio 6% -22% 208%

[1] Month-to-date and year-to-date as of 10/27/2022
[2] Cumulative total returns since the end of 2016

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