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Cleveland-Cliffs: Q2 Earnings Snapshot
Revenue topped forecasts as Cleveland-Cliffs returned to positive free cash flow and lifted third-quarter adjusted EBITDA guidance to $575 million.
- Cleveland-Cliffs Inc. reported a $145 million second-quarter loss on Thursday, though the company posted $5.23 billion in revenue, topping Street forecasts.
- Tripling adjusted EBITDA to $286 million from the first quarter, Cleveland-Cliffs benefited from improved automotive demand and strategic footprint optimization initiatives.
- The company reported a 25-cent loss per share, exceeding the 21-cent loss expected by analysts surveyed by Zacks Investment Research, while automotive shipments hit a two-year high.
- Management projects a substantially stronger second half of 2026, with expectations for $575 million in adjusted EBITDA for the third quarter and a leverage target below 2.5x within 12 months.
- Upgrades at the Butler Works plant will deliver a 25% production increase in grain-oriented electrical steels upon completion, while the company prepares for a potential restart at its Dearborn facility.
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Cleveland-Cliffs reported a higher revenue in the second quarter, with the demand for steel continuing to improve, despite continuing global tensions. Exclusive material for subscribers. To have full access, access the link of the material and register.
·Rio de Janeiro, Brazil
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Full Transcript: Cleveland-Cliffs Q2 2026 Earnings Call - Cleveland-Cliffs (NYSE:CLF)
Cleveland-Cliffs (NYSE:CLF) held its second-quarter earnings conference call on Thursday. Below is the complete transcript from the call. This transcript is brought to you by Benzinga APIs. For real-time access to our
·Detroit, United States
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Coverage Details
Total News Sources10
Leaning Left1Leaning Right2Center3Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
Factuality
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