CLF Stock Recent News

Cleveland-Cliffs (CLF) is raising $600 million through senior notes offering to fund part of its Stelco acquisition and bolster liquidity.

CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) announced today that it intends to offer to sell, subject to market and other conditions, an additional $500 million aggregate principal amount of Senior Guaranteed Notes due 2032 (the “Additional Notes”) in an offering (the “Additional Notes Offering”) that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Additional Notes will be an issuance of Cliffs' existing 7.000%.

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While the top- and bottom-line numbers for Cleveland-Cliffs (CLF) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Cleveland-Cliffs (CLF) will invest $150 million in a new transformer plant in Weirton, creating 600 jobs and addressing the U.S. transformer shortage.

Cleveland-Cliffs Inc. (NYSE:CLF ) Q2 2024 Earnings Conference Call July 23, 2024 8:30 AM ET Company Participants Celso Goncalves - Executive Vice President & Chief Financial Officer Lourenco Goncalves - Chairman, President & Chief Executive Officer Conference Call Participants Lucas Pipes - B. Riley Securities Lawson Winder - Bank of America Carlos De Alba - Morgan Stanley Philip Gibbs - KeyBanc Capital Markets Operator Good morning, ladies and gentlemen.

Cleveland-Cliffs' (CLF) second-quarter sales are adversely impacted by lower volumes and prices of steel products.

CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) today reported second-quarter results for the period ended June 30, 2024. Second-Quarter 2024 Highlights Revenues of $5.1 billion Steel shipments of 4.0 million net tons Net income of $9 million and adjusted net income1 of $50 million Adjusted EPS1 of $0.11 per diluted share Adjusted EBITDA2 of $323 million Net debt3 decrease of $237 million to $3.4 billion Cash flow from operations of $519 million Free cash flow4 of $362 million Rep.

CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it will establish a new electrical distribution transformer production plant in Weirton, West Virginia. This downstream direct investment by Cleveland-Cliffs in Weirton will address the critical shortage of distribution transformers that is stifling economic growth across the United States. Lourenco Goncalves, Cleveland-Cliffs' Chairman, President and Chief Executive Officer will host a press conference with West.

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