Cleveland-Cliffs +8% on raised outlook for iron ore pellet volume, prices [Seeking Alpha]
Cleveland-Cliffs Inc. (CLF)
Last cleveland-cliffs inc. earnings: 2/20 07:00 am
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Source: Seeking Alpha
Cleveland-Cliffs +8% on raised outlook for iron ore pellet volume, pricesCleveland-Cliffs (CLF+7.7%) surges as investors overlook a larger than expectedQ1 loss and a 48% Y/Y decline in revenues, as it raises its full-year pellet sales guidance by 500K long tons to 20.5M tons.CLF alsolifts its FY 2018 outlook for iron ore pellet prices to $102-$107/ton from previous guidance called of $97-$102/ton, assuming that iron ore prices, steel prices and pellet premiums remain in line with YTD averages for the rest of the year.Q1 iron ore pellet sales of 1.6M long tons totaled little more than half of the 3.1M tons from Q1 last year, due to lower carryover tonnage from the prior-year nomination as well as the company's adoption of the new ASC Topic 606 revenue recognition standard."The strength in the domestic steel market we have seen so far this year is sustainable, and should support very strong results for Cleveland-Cliffs in 2018," says CEO Lourenco Goncalves, adding that CLF expects to de
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News
- Cleveland-Cliffs Is A Long-Term Growth Strategy [Seeking Alpha]Seeking Alpha
- Cleveland-Cliffs (CLF) Earnings & Revenues Lag Estimates in Q1 [Yahoo! Finance]Yahoo! Finance
- Cleveland-Cliffs Inc. (NYSE: CLF) had its price target lowered by analysts at JPMorgan Chase & Co. from $24.00 to $23.00. They now have an "overweight" rating on the stock.MarketBeat
- Why Cleveland-Cliffs Plunged on Tuesday [Yahoo! Finance]Yahoo! Finance
- Cleveland-Cliffs shares fall after Q1 earnings miss estimates [Seeking Alpha]Seeking Alpha
CLF
Earnings
- 4/22/24 - Miss
CLF
Sec Filings
- 4/22/24 - Form 8-K
- 4/5/24 - Form 8-K
- 4/3/24 - Form 4
- CLF's page on the SEC website