Why Cleveland-Cliffs Plunged on Tuesday [Yahoo! Finance]
Cleveland-Cliffs Inc. (CLF)
Last cleveland-cliffs inc. earnings: 2/20 07:00 am
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US:NYSE Investor Relations:
clevelandcliffs.com/investors/overview/default.aspx
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Source: Yahoo! Finance
Investors apparently took exception with Cliffs missing on revenues and earnings per share in its first-quarter results, which were reported last night. However, the miss appears to be due to an unusual issue with one of Cliffs' customer segments, which appears to have been resolved at the end of the quarter. With the company ramping up share repurchases, investors may want to investigate buying the dip A headline miss, but much going on under the hood At first glance, first-quarter earnings weren't great. Revenue of $5.2 billion came in $130 million short of analyst estimates, and the $0.18 in adjusted ( non-GAAP [generally accepted accounting principles] ) earnings per share came in $0.04 short. Looking at the different components of the company's total, management noted strong, healthy demand and sales to automotive customers, which made up 32% of revenue. However, management noted service center customers went on a "buyer's strike" in anticipation of price declines in the f
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CLF
News
- Cleveland-Cliffs Inc. (NYSE: CLF) had its price target lowered by analysts at Morgan Stanley from $20.00 to $19.00. They now have an "equal weight" rating on the stock.MarketBeat
- Cleveland-Cliffs Inc. (NYSE: CLF) had its price target lowered by analysts at B. Riley from $25.00 to $24.00. They now have a "buy" rating on the stock.MarketBeat
- Norfolk Activist Wins Support From Glass Lewis for CEO Ouster [BNN Bloomberg (Canada)]BNN Bloomberg
- UPDATE 1-Cleveland-Cliffs backs Ancora in Norfolk Southern proxy battle, Bloomberg says [Yahoo! Finance]Yahoo! Finance
- Cleveland-Cliffs backs Ancora in Norfolk Southern proxy battle, Bloomberg says [Yahoo! Finance]Yahoo! Finance
CLF
Earnings
- 4/22/24 - Miss
CLF
Sec Filings
- 5/3/24 - Form 8-K
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- CLF's page on the SEC website