Cleveland-Cliffs Inc. (CLF) stock
CLFNYSEMetal MiningFiscal year ends December 31
$12.65−0.42 (-3.21%)
Close on Nov 13, 2026Market cap $7.22BP/E –Yield –
Earnings
Cleveland-Cliffs's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.
Next report
Feb 8, 2027
Q4 FY2026 · estimated, before the open
Revenue, Q3 FY2026
$5.60B
+19.1% on a year earlier
adjusted net income per diluted share, Q3 FY2026
$0.28
Latest guidance
Issued
Oct 19, 2026 · 2 items
Quarterly results
Revenue and earnings per share from each of Cleveland-Cliffs's earnings releases, newest first
| Quarter | Reported | Revenue | YoY | EPS | Adj. EPS | Source |
|---|---|---|---|---|---|---|
| Q4 FY2026ended Dec 31, 2026 | Feb 8, 2027Expected | – | – | – | – | – |
| Q3 FY2026ended Sep 30, 2026 | Oct 19, 2026before the open | $5.60B | +19.1% | $0.26 | $0.28 | Release |
| Q2 FY2026ended Jun 30, 2026 | Jul 23, 2026before the open | $5.20B | +6.1% | -$0.25 | -$0.20 | Release |
| Q1 FY2026ended Mar 31, 2026 | Apr 20, 2026before the open | $4.90B | +6.5% | -$0.42 | -$0.40 | Release |
| Q4 FY2025ended Dec 31, 2025 | Feb 9, 2026before the open | $4.30B | 0.0% | -$0.44 | -$0.43 | Release |
| Q3 FY2025ended Sep 30, 2025 | Oct 20, 2025before the open | $4.70B | +2.2% | – | – | Release |
| Q2 FY2025ended Jun 30, 2025 | Jul 21, 2025before the open | $4.90B | -3.9% | – | -$0.50 | Release |
| Q1 FY2025ended Mar 31, 2025 | May 7, 2025after the close | $4.60B | -11.5% | -$1.00 | -$0.92 | Release |
| Q4 FY2024ended Dec 31, 2024 | Feb 24, 2025after the close | $4.30B | -15.7% | -$0.92 | -$0.68 | Release |
| Q3 FY2024ended Sep 30, 2024 | Nov 4, 2024after the close | $4.60B | -17.9% | -$0.52 | -$0.33 | Release |
| Q2 FY2024ended Jun 30, 2024 | Jul 22, 2024after the close | $5.10B | -15.0% | $0.00 | $0.11 | Release |
| Q1 FY2024ended Mar 31, 2024 | Apr 22, 2024after the close | $5.20B | -1.9% | -$0.14 | $0.18 | Release |
| Q4 FY2023ended Dec 31, 2023 | Jan 29, 2024after the close | $5.10B | +2.0% | -$0.31 | -$0.05 | Release |
| Q3 FY2023ended Sep 30, 2023 | Oct 23, 2023after the close | $5.60B | -1.8% | $0.52 | – | Release |
| Q2 FY2023ended Jun 30, 2023 | Jul 24, 2023after the close | $6.00B | -4.8% | $0.67 | – | Release |
| Q1 FY2023ended Mar 31, 2023 | Apr 24, 2023after the close | $5.30B | -11.7% | -$0.11 | – | Release |
| Q4 FY2022ended Dec 31, 2022 | Feb 13, 2023after the close | $5.00B | -5.7% | -$0.41 | – | Release |
| Q3 FY2022ended Sep 30, 2022 | Oct 25, 2022before the open | $5.70B | -5.0% | $0.29 | – | Release |
| Q2 FY2022ended Jun 30, 2022 | Jul 22, 2022before the open | $6.30B | – | $1.13 | – | Release |
| Q1 FY2022ended Mar 31, 2022 | Apr 22, 2022before the open | $6.00B | – | $1.50 | – | Release |
| Q4 FY2021ended Dec 31, 2021 | Feb 11, 2022before the open | $5.30B | – | $1.69 | – | Release |
| Q3 FY2021ended Sep 30, 2021 | Oct 22, 2021before the open | $6.00B | – | $2.33 | – | Release |
| Q2 FY2021ended Jun 30, 2021 | Jul 22, 2021before the open | – | – | – | – | Filing |
| Q1 FY2021ended Mar 31, 2021 | Apr 22, 2021before the open | – | – | – | – | Filing |
| Q4 FY2020ended Dec 31, 2020 | Jan 25, 2021before the open | – | – | – | – | Filing |
| Q3 FY2020ended Sep 30, 2020 | Oct 23, 2020before the open | – | – | – | – | Filing |
Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.
Current guidance
Cleveland-Cliffs's latest outlook for periods it has not reported yet, compared with what it said before
| Metric | Period | Guidance | Before | Change | Given |
|---|---|---|---|---|---|
| adjusted EBITDAnon-GAAP | Q4 FY2026 | $715.00M | – | New | Oct 19, 2026 |
| Capital expenditures | FY2026 | $700.00M | $700.00M | Reaffirmed | Jul 23, 2026 |
| Cash Pension and OPEB payments and contributions | FY2026 | $125.00M | $125.00M | Lowered | Jul 23, 2026 |
| Depreciation, depletion and amortization | FY2026 | $1.10B | $1.10B | Raised | Jul 23, 2026 |
| Selling, general and administrative expenses | FY2026 | $575.00M | $575.00M | Raised | Jul 23, 2026 |
| Steel shipment volumes | FY2026 | 16.5 – 17 | 16.5 – 17 | Reaffirmed | Jul 23, 2026 |
| Steel shipment volumes | FY2026 | 16.5 – 17 | – | New | Feb 9, 2026 |
| Steel unit cost reductions per net ton | FY2026 | $10 | – | New | Feb 9, 2026 |
| adjusted EBITDAnon-GAAP | FY2027 | $4.00B | – | New | Oct 19, 2026 |
Guidance history
Every forecast Cleveland-Cliffs put in an earnings release, newest first
| Given | Metric | Period | Guidance | Change |
|---|---|---|---|---|
| Oct 19, 2026 | adjusted EBITDA | Q4 FY2026 | $715.00M | New |
| Oct 19, 2026 | adjusted EBITDA | FY2027 | $4.00B | New |
| Jul 23, 2026 | Capital expenditures | FY2026 | $700.00M | Reaffirmed |
| Jul 23, 2026 | adjusted EBITDA | Q3 FY2026 | $575.00M | New |
| Jul 23, 2026 | Steel shipment volumes | FY2026 | 16.5 – 17 | Reaffirmed |
| Jul 23, 2026 | Selling, general and administrative expenses | FY2026 | $575.00M | Raised |
| Jul 23, 2026 | Depreciation, depletion and amortization | FY2026 | $1.10B | Raised |
| Jul 23, 2026 | Cash Pension and OPEB payments and contributions | FY2026 | $125.00M | Lowered |
| Apr 20, 2026 | Capital expenditures | FY2026 | $700.00M | Reaffirmed |
| Apr 20, 2026 | Steel shipment volumes | FY2026 | 16.5 – 17 | New |
| Apr 20, 2026 | Selling, general and administrative expenses | FY2026 | $575.00M | Raised |
| Apr 20, 2026 | Depreciation, depletion and amortization | FY2026 | $1.10B | Raised |
| Apr 20, 2026 | Cash Pension and OPEB payments and contributions | FY2026 | $125.00M | Lowered |
| Feb 9, 2026 | Capital expenditures | FY2026 | $700.00M | New |
| Feb 9, 2026 | Steel shipment volumes | FY2026 | 16.5 – 17 | New |
| Feb 9, 2026 | Steel unit cost reductions per net ton | FY2026 | $10 | New |
| Feb 9, 2026 | Selling, general and administrative expenses | FY2026 | $575.00M | Raised |
| Feb 9, 2026 | Depreciation, depletion and amortization | FY2026 | $1.10B | Raised |
| Feb 9, 2026 | Cash Pension and OPEB payments and contributions | FY2026 | $125.00M | Lowered |
| Oct 20, 2025 | Capital expenditures | FY2025 | $525.00M | New |
| Oct 20, 2025 | Steel unit cost reductions | FY2025 | 50 | New |
| Oct 20, 2025 | Selling, general and administrative expenses | FY2025 | $550.00M | New |
| Oct 20, 2025 | Depreciation, depletion and amortization | FY2025 | $1.20B | Raised |
| Oct 20, 2025 | Cash Pension and OPEB payments and contributions | FY2025 | $150.00M | Lowered |
| Jul 21, 2025 | Capital expenditures | FY2025 | $600.00M | Lowered |
| Jul 21, 2025 | Selling, general and administrative expenses | FY2025 | $575.00M | Raised |
| Jul 21, 2025 | Steel unit cost reductions | FY2025 | $50 | Lowered |
| Jul 21, 2025 | Depreciation, depletion and amortization | FY2025 | $1.20B | Raised |
| Jul 21, 2025 | Cash Pension and OPEB payments and contributions | FY2025 | $150.00M | Lowered |
| May 7, 2025 | Capital expenditures | FY2025 | $625.00M | Lowered |
| May 7, 2025 | Steel unit cost reductions | FY2025 | $50 | Lowered |
| May 7, 2025 | Selling, general and administrative expenses | FY2025 | $600.00M | Raised |
| May 7, 2025 | Depreciation, depletion and amortization | FY2025 | $1.10B | Raised |
| May 7, 2025 | Cash Pension and OPEB payments and contributions | FY2025 | $150.00M | Lowered |
| Feb 24, 2025 | Capital expenditures | FY2025 | $700.00M | Raised |
| Feb 24, 2025 | Steel unit cost reductions | FY2025 | 40 | New |
| Feb 24, 2025 | Selling, general and administrative expenses | FY2025 | $625.00M | New |
| Feb 24, 2025 | Depreciation, depletion and amortization | FY2025 | $1.10B | Raised |
| Feb 24, 2025 | Cash Pension and OPEB payments and contributions | FY2025 | $150.00M | Lowered |
| Nov 4, 2024 | Sustaining capital spend from Stelco | annually | $100.00M | – |
| Nov 4, 2024 | capital expenditures | FY2024 | $600.00M – $650.00M | Lowered |
| Nov 4, 2024 | standalone (excluding Stelco) full-year 2025 capital expenditures | FY2025 | $600.00M | New |
| Jul 22, 2024 | capital expenditures | FY2024 | $650.00M – $700.00M | Lowered |
| Apr 22, 2024 | Capital expenditures | FY2024 | $675.00M – $725.00M | Reaffirmed |
| Apr 22, 2024 | Steel shipment volumes | FY2024 | 16.5 | Reaffirmed |
| Jan 29, 2024 | Capital expenditures | FY2024 | $675.00M – $725.00M | New |
| Jan 29, 2024 | Steel shipment volumes | FY2024 | 16.5 | New |
| Jan 29, 2024 | Steel unit cost reductions | FY2024 | $30 | New |
| Oct 23, 2023 | capital expenditures | FY2023 | $670.00M | Lowered |
| Oct 23, 2023 | reduction in steel unit costs | Q4 FY2023 | 15 | Raised |
| Jul 24, 2023 | steel unit costs reduction | Q3 FY2023 | 40 | New |
| Jul 24, 2023 | reduction in steel unit costs | Q4 FY2023 | 10 | New |
| Apr 24, 2023 | capital expenditures | FY2023 | $675.00M – $725.00M | Lowered |
| Feb 13, 2023 | Capital expenditures | FY2023 | $700.00M – $750.00M | New |
| Feb 13, 2023 | Steel shipment volumes | FY2023 | 16 | New |
| Feb 13, 2023 | Cash contributions related to pension and OPEB plans | FY2023 | $100.00M | New |
| Feb 13, 2023 | Federal cash tax refunds | FY2023 | $140.00M | Raised |
| Oct 25, 2022 | average selling price | FY2022 | $1.37K | Raised |
| Jul 22, 2022 | average selling price | FY2022 | 1410 | Lowered |
| Apr 22, 2022 | average selling price expectation | FY2022 | 1445 | New |
| Feb 11, 2022 | average selling price | FY2022 | $1.23K | New |
| Oct 22, 2021 | expected revenues | FY2021 | $21.00B | New |
Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.
Press releases
Releases Cleveland-Cliffs filed with the SEC as exhibits to Form 8-K or 6-K
- Results
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- News
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