— 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.
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