Company TransformationCleveland-Cliffs has transformed itself from an iron ore miner to the largest integrated steelmaker in North America through the acquisition of two of its largest customers, AK Steel and ArcelorMittal USA.
Financial PerformanceAdjusted EBITDA of $124 million exceeded the consensus forecast and previous expectations, showcasing strong financial performance.
Market ConsolidationThe company is continuing its consolidation of the North American flat-rolled market with its recent acquisition of Stelco.