Recap: Cleveland-Cliffs Q2 Earnings

Shares of Cleveland-Cliffs CLF moved lower by 2% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 149.21% over the past year to ($0.31), which beat the estimate of ($0.50).

Revenue of $1,093,000,000 rose by 47.07% from the same period last year, which beat the estimate of $1,080,000,000.

Guidance

Cleveland-Cliffs hasn't issued any earnings guidance for the time being.

Cleveland-Cliffs hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: Jul 30, 2020

Time: 10:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=http%3A%2F%2Fwww.clevelandcliffs.com%2FEnglish%2Finvestors%2Fevents-and-presentations%2Fevent-details%2F2020%2FCleveland-Cliffs-Inc-Second-Quarter-2020-Earnings-Conference-Call%2Fdefault.aspx&eventid=2403575&sessionid=1&key=47D9796535C92E751EF86D8FBCA27A60&regTag=&sourcepage=register

Price Action

52-week high: $11.28

Company's 52-week low was at $2.63

Price action over last quarter: Up 32.80%

Company Overview

Cleveland-Cliffs Inc is an independent iron ore mining company in the United States and is a supplier of iron ore pellets to the North American steel industry from its mines and processing facilities located in Michigan and Minnesota. It is also engaged in the production of Hot-Briquetted Iron in the Great Lakes region with the development of a production plant in Toledo, Ohio.