— Cleveland-Cliffs (NYSE: CLF) reported third-quarter 2019 earnings of $0.33 per share versus $0.24 per share expected.
— Revenue plunged by 25% to $556 million versus $544.88 million expected. The results were hurt by the weak steel prices in the US, which the company believes to be temporary.
— Mining and Pelletizing pellet sales volume fell by 11% to 5.8 million long tons as reduced customer nominations partially offset by intercompany sales to the Toledo HBI plant.
— Realized revenues dropped by 9.5% to $95.65 as results were negatively impacted by an unfavorable true-up of previously sold volumes due to lower pellet premiums and HRC prices.
— Looking ahead into the full year 2019, the company lowered its sales volume expectation to 19.5 million long tons from the prior estimate of 20 million long tons. This was due to seaborne export economics and timing.
— For 2019, total capital expenditures are now predicted to be in the range of $625 million to $675 million compared to the previous forecast range of $650 million to $700 million.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Costco (COST) reports strong growth in Q1 FY26 earnings; revenue up 8%
Costco Wholesale Corporation (NASDAQ: COST) has reported an increase in net income for the first quarter of fiscal 2026. Revenues grew 8.3% year-over-year. The Issaquah, Washington-headquartered warehouse giant’s total revenues
AVGO Earnings: Broadcom reports higher Q4 FY25 revenue, profit; results beat
Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported an increase in revenue and adjusted earnings for the fourth quarter of fiscal 2025. The numbers also surpassed analysts' expectations. Adjusted
Lamb Weston (LW) is set to report Q2 2026 earnings next week, here’s what to look for
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) rose over 1% on Thursday. The stock has gained 4% over the past three months. The French fry giant is slated to
Comments