Company Of The Day: Cleveland-Cliffs

+13.97%
Upside
16.42
Market
18.71
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
  1. What To Expect From Cleveland-Cliffs Q3 Results?
  2. Is Cleveland-Cliffs Stock A Buy Despite Tough Macros?
  3. With Auto Demand Likely To Revive, Is Cleveland-Cliffs Stock Attractive?
  4. Should You Buy The Dip In Cleveland-Cliffs Stock?
  5. Cleveland-Cliffs Stock Rises Almost 20% In Ten Days – Here’s Why
  6. With Iron Ore Price Dropping Below $100, How’s Cleveland-Cliffs Stock Doing?

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

What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.

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

Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates