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CBIZ: Q3 Earnings Snapshot – WTOP News
CBIZ said adjusted earnings rose to $1.21 per share, but revenue of $702.2 million missed the $727.7 million analyst estimate.
- On Monday, Cleveland-Cliffs reported third-quarter net income of $165 million, with adjusted EBITDA of $612 million, more than doubling the prior quarter's $286 million on higher shipments and selling prices.
- CEO Lourenco Goncalves credited President Donald Trump's trade policies for boosting profits, saying "the trade environment continues to support a healthy American steel industry." Imports remain well below historical levels, he noted.
- Conversely, Cleveland-Cliffs is idling galvanizing lines at Stelco, citing an "avalanche of imports" that Canada's tariff system has not adequately reduced. Prime Minister Mark Carney said Cliffs "betrayed" its Canadian workforce.
- Contract renewals for 2027 are expected to generate over $1 billion in added EBITDA based on signed agreements. Management projects 2027 will be the company's best year since 2021.
- Strategic projects include a $1 billion modernization of Middletown Works, supported by $500 million from the Department of Energy. The company postponed the Burns Harbor blast furnace reline to April 2028 to capitalize on favorable market conditions.
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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 Sources17
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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