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Cleveland-Cliffs (CLF): Q4 2019 Earnings Snapshot

By Toby |
Earnings Update by AlphaStreet
Cleveland cliffs inc earnings Q4

— Cleveland-Cliffs (NYSE: CLF) reported its fourth-quarter 2019 earnings of $0.23 per share vs. $0.24 per share expected.  

— Revenue fell 23% to $534 million, versus $549.4 million expected. Mining and Pelletizing pellet sales volume slid 10% in Q4 due to reduced customer demand.

— The company expects to generate approx. $300-325 million of net income and $550-575 million of adjusted EBITDA for the full-year 2020

— CLF shares fell 0.5% immediately following the announcement.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

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