Cleveland-Cliffs Inc reports results for the quarter ended June 30 - Earnings Summary

• Cleveland-Cliffs Inc CLF reported a quarterly adjusted loss of 97 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported breakeven earnings per share. The mean expectation of ten analysts for the quarter was for a loss of 74 cents per share. Wall Street expected results to range from $-1.09 to -31 cents per share.

• Revenue fell 3.1% to $4.93 billion from a year ago; analysts expected $4.93 billion.

• Cleveland-Cliffs Inc's reported EPS for the quarter was a loss of 97 cents​.

• The company reported a quarterly loss of $483 million.

• Cleveland-Cliffs Inc shares had risen by 24.7% this quarter and gained 0.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 803% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy," 9 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the iron & steel peer group is "buy."

• Wall Street's median 12-month price target for Cleveland-Cliffs Inc is $8.75, about 8.3% below its last closing price of $9.48

This summary was machine generated from LSEG data July 21 at 01:32 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)