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CBIZ: Q3 Earnings Snapshot – WTOP News
CBIZ’s adjusted earnings of $1.21 per share and revenue of $702.2 million both fell short of analyst forecasts, according to Zacks Investment Research.
- On Monday, Cleveland-Cliffs Inc. reported third-quarter net income of $165 million, swinging from a $134 million net loss in Q2, with revenue reaching $5.6 billion.
- Higher selling prices and increased shipments drove the performance surge, with adjusted EBITDA reaching $612 million, more than double Q2's $286 million and the strongest quarterly result in three years.
- Cleveland-Cliffs finalized the $1 billion Middletown Works modernization scope with $500 million Department of Energy support and postponed the Burns Harbor C-blast furnace reline to April 2028 to capitalize on favorable conditions.
- CEO Lourenco Goncalves criticized Prime Minister Mark Carney's trade policies, citing an oversupplied Canadian galvanized steel market; the company is idling Stelco galvanizing lines while preserving "approximately 2,000 Canadian jobs."
- Management projects 2027 adjusted EBITDA will exceed $4 billion, supported by new contract resets and rising manufacturing demand, targeting a net debt to EBITDA ratio between 2 times and 2.5 times by mid-2027.
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Cleveland-Cliffs Q3 2026 Earnings Call Transcript - Cleveland-Cliffs (NYSE:CLF)
Cleveland-Cliffs (NYSE:CLF) reported third-quarter financial results on Monday. The transcript from the company’s third-quarter earnings call has been provided below.This transcript is brought to you by Benzinga APIs.
·Detroit, United States
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Coverage Details
Total News Sources18
Leaning Left2Leaning Right3Center7Last UpdatedBias Distribution58% Center
Bias Distribution
- 58% of the sources are Center
58% Center
L 17%
C 58%
R 25%
Factuality
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