Reports Q1 revenue $4.9B, consensus $4.79B. Cliffs’ Chairman, President and CEO, Lourenco Goncalves, said: “Q1 results reflected the impact of short-term headwinds like energy prices and price realization lags. As we move through the year, each quarter is expected to improve sequentially, as the momentum already visible in both our order book and pricing continues to translate into earnings and cash flow. Importantly, we expect to generate healthy positive free cash flow in the second quarter, marking a return to the earnings and cash-generation profile this company is capable of delivering.”
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