CLF Stock Recent News

With the new contract, Cleveland-Cliffs (CLF) strengthens its partnership with the UAW for another four years.

The steel industry faces severe challenges, with falling prices and economic uncertainty, impacting global producers like Cleveland-Cliffs. Despite the downturn, Cleveland-Cliffs is making strategic moves, including the acquisition of Stelco, to strengthen its market position. These efforts, alongside cost-cutting and debt reduction, could lead to significant long-term gains, though the investment carries inherent cyclical risks.

While Cleveland-Cliffs (CLF) benefits from its vertically integrated footprint, competitive strength, cost-saving actions and the synergies of the Stelco buyout, a significant pullback in steel prices and declining earnings estimates cast a pall on its prospects.

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%.

“The person that turns over the most rocks wins the game,” prominent investor Peter Lynch famously said regarding investing. This basically means that investors need to do a lot of digging and research in order to find quality stocks in which to invest their capital.

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.