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Cleveland-Cliffs Inc (CLF)
NYSE:CLF
Earnings Data
Report Date
Apr 18, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.65Last Year’s EPS
0.18Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 24, 2025
|% Change Since: -16.68%
|Next Earnings Date:Apr 18, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a company positioned for recovery and future growth, thanks to a stronger order book, the benefits of tariffs, and a successful acquisition. However, it also highlights recent financial challenges, including a weak 2024 performance and increased leverage.Company Guidance
During the Cleveland-Cliffs Full Year and Fourth Quarter 2024 Earnings Conference Call, Lourenco Goncalves, the CEO, provided guidance for a strong 2025, highlighting several key metrics. He noted that the company's order book and lead times for hot-rolled steel have significantly improved, with lead times increasing from three to seven weeks. Despite a challenging 2024, with a $81 million adjusted EBITDA loss in Q4, Goncalves emphasized a positive outlook driven by a 25% tariff on steel imports, expected to boost domestic production. The acquisition of Stelco is projected to yield $120 million in synergies by year-end, with cost reductions of $40 per ton anticipated in 2025. The company maintains a healthy liquidity position of $3 billion and plans to use free cash flow for debt reduction, targeting a net debt-to-EBITDA ratio of 2.5 times. Additionally, the company reported a total reportable incident rate of 0.9 for 2024, underscoring its commitment to safety.Improved Order Book and Lead Times
Order book and lead times for hot-rolled steel have significantly strengthened, with lead times increasing from three weeks to seven weeks, marking the strongest position in nearly a year.
Positive Impact of Tariffs
The recently announced 25% tariffs on steel imports are expected to strengthen domestic producers and benefit Cleveland-Cliffs by addressing unfair competition from foreign producers.
Successful Stelco Integration
The Stelco acquisition process went smoothly, with operational transitions being seamless and synergies of $120 million expected to be realized by year-end 2025.
Strong Safety Record
Cleveland-Cliffs reported a total reportable incident rate of 0.9 for 2024, indicating an outstanding safety record.
Increased Liquidity and Debt Management
The company has $3 billion in liquidity following a successful issuance of senior unsecured notes, showing a strong balance sheet position.
Cost Reduction Achievements
Achieved a $30 per ton reduction in unit steel costs year-over-year, with expectations of an additional $40 per net ton reduction in 2025.
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CLF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CLF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 24, 2025 | $11.15 | $10.79 | -3.23% |
| Nov 04, 2024 | $13.11 | $11.61 | -11.44% |
| Jul 22, 2024 | $15.21 | $15.88 | +4.40% |
| Apr 22, 2024 | $20.85 | $18.55 | -11.03% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cleveland-Cliffs Inc (CLF) report earnings?
Cleveland-Cliffs Inc (CLF) is schdueled to report earning on Apr 18, 2025, TBA Not Confirmed.
What is Cleveland-Cliffs Inc (CLF) earnings time?
Cleveland-Cliffs Inc (CLF) earnings time is at Apr 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CLF EPS forecast?
CLF EPS forecast for the fiscal quarter 2025 (Q1) is -0.65.
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