Cleveland-Cliffs ( (CLF) ) has released its Q2 earnings. Here is a breakdown of the information Cleveland-Cliffs presented to its investors.
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Cleveland-Cliffs Inc. is a leading North American steel producer, specializing in value-added sheet products primarily for the automotive industry, with operations spanning from iron ore mining to steelmaking and downstream processing. In its second-quarter 2025 earnings report, Cleveland-Cliffs announced record steel shipments of 4.3 million net tons and revenues of $4.9 billion, despite a GAAP net loss of $470 million, influenced by $323 million in non-recurring charges. The company also reported an adjusted net loss of $247 million and an adjusted EBITDA of $97 million, marking a significant improvement from the previous quarter. Key highlights include a reduction in steel unit costs by $15 per net ton and a robust liquidity position of $2.7 billion. The company attributes its improved financial performance to strategic footprint optimization initiatives and anticipates further cost reductions and EBITDA improvements in the coming quarters. Looking ahead, Cleveland-Cliffs is optimistic about generating meaningful free cash flow and reducing debt, supported by strong domestic steel pricing and a healthy order book, particularly in the automotive sector.