Cleveland-Cliffs Q2 Earnings and Revenues Beat Estimates
Cleveland-Cliffs Inc. Price, Consensus and EPS Surprise
Cleveland-Cliffs Inc. price-consensus-eps-surprise-chart | Cleveland-Cliffs Inc. Quote
Operational Highlights
The company reported Steelmaking revenues of roughly $4.8 billion for the second quarter, down around 2% year over year.Average net selling price per net ton of steel products was $1,015 in the quarter, down around 9.8% year over year. It missed our estimate of $1,020. External sales volumes for steel products were roughly 4.3 million net tons, up around 7.5% year over year. It topped our estimate of 4.2 million net tons.
Financial Position
Cleveland-Cliffs ended the second quarter with cash and cash equivalents of $61 million, up around 5% from the prior quarter. Long-term debt increased 1.7% sequentially to $7,727 million.As of June 30, 2025, the company had $2.7 billion in total liquidity.
Outlook
The company has revised its full-year 2025 guidance, reflecting updated expectations across certain key financial metrics. Capital expenditures are now projected to be approximately $600 million, down from the previously anticipated $625 million. Selling, general and administrative (SG&A) expenses have also been lowered to around $575 million from the earlier estimate of $600 million. CLF continues to target steel unit cost reductions of approximately $50 per net ton compared to 2024. Depreciation, depletion and amortization (DD&A) expenses have been revised upward to approximately $1.2 billion, primarily due to accelerated depreciation related to idled facilities. Meanwhile, cash pension and Other Post-Employment Benefits (OPEB) payments and contributions remain unchanged at approximately $150 million.
Price Performance
Shares of CLF are down 32.9% over the past year compared with a 23% decline of its industry.
Image Source: Zacks Investment Research
CLF's Zacks Rank & Key Picks
CLF currently carries a Zacks Rank #3 (Hold).Better-ranked stocks worth a look in the basic materials space include Royal Gold, Inc. RGLD, Kinross Gold Corporation KGC and Agnico Eagle Mines AEM.Royal Gold is slated to report second-quarter results on Aug 6. The Zacks Consensus Estimate for earnings is pegged at $1.70. RGLD beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 9%. RGLD carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.Kinross is scheduled to report second-quarter results on July 30. The Zacks Consensus Estimate for KGC's second-quarter earnings is pegged at 27 cents. KGC beat the Zacks Consensus Estimate in three of the last four quarters, with the average earnings surprise being 16.1%. KGC currently carries a Zacks Rank #1.Agnico Eagle is slated to report second-quarter results on July 30. The consensus estimate for AEM's earnings is pegged at $1.66. AEM, carrying a Zacks Rank #1, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 12.3%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cleveland-Cliffs Inc. (CLF) : Free Stock Analysis Report
Kinross Gold Corporation (KGC) : Free Stock Analysis Report
Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report
Royal Gold, Inc. (RGLD) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 minutes ago
- Yahoo
Masimo sues US Customs over approval of Apple Watch imports
By Blake Brittain WASHINGTON (Reuters) -Medical monitoring technology company Masimo sued U.S. Customs and Border Protection on Wednesday over a decision by the agency that allowed Apple to import Apple Watches with blood-oxygen reading technology during a patent dispute between the companies. Masimo said in the lawsuit in Washington, D.C., federal court that Customs improperly determined that Apple can import watches with pulse oximetry technology, reversing its own decision from last year without notifying Masimo. Masimo told the court that it learned of the agency's August 1 decision only after Apple announced it would reintroduce blood-oxygen reading to its watches last week. Spokespeople for Apple and Customs did not immediately respond to requests for comment. A Masimo spokesperson declined to comment. Irvine, California-based Masimo has accused Apple of hiring away its employees and stealing its pulse oximetry technology to use in its Apple Watches. Masimo has separately sued Apple for patent infringement and trade secret theft in ongoing federal court cases. Masimo convinced the U.S. International Trade Commission to block imports of Apple's Series 9 and Ultra 2 smartwatches in 2023 based on a determination that Apple's technology for reading blood oxygen levels infringed Masimo's patents. Apple has continued to sell Customs-approved redesigned watches without pulse oximetry since the ITC's decision. Apple said on Aug. 14 that it would reintroduce its smartwatches' blood-oxygen reading capabilities with approval from Customs. Masimo said the agency's decision to approve the watches without input from Masimo or any "meaningful justification" deprived the company of its rights. "CBP's function is to enforce ITC exclusion orders, not to create loopholes that render them ineffective," Masimo said. Masimo asked the Washington court to halt the agency's ruling and continue to block Apple from selling watches with the blood-oxygen feature. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 minutes ago
- Yahoo
Why Medtronic Stock Raced Higher Today
Key Points Investors traded out of the company the previous day following its latest earnings release. The stock came roaring back on Hump Day, however. 10 stocks we like better than Medtronic › A clutch of post-earnings price target increases by analysts helped raise Medtronic's (NYSE: MDT) stock at a healthy rate on Wednesday. The sturdy medical device specialist's shares rose by almost 4% on the day as a consequence, a rate that looked especially good next to the S&P 500's (SNPINDEX: ^GSPC) 0.2% drop. Healthy raises Following a trend that began Tuesday after Medtronic published its first quarter of fiscal 2026 figures. The company posted revenue growth of 8% (to almost $8.6 billion), and improved non-GAAP (generally accepted accounting principles) adjusted net income by 2% to slightly over $1.6 billion. Both headline numbers beat the consensus analyst estimates, albeit not by much. The market, which collectively loves a crushing beat on analyst estimates, basically shrugged at this. Many investors traded out of Medtronic that day. The sun was shining brighter on Wednesday thanks to that series of price target bumps. By my count, seven analysts tracking the stock upped their fair-value assessments. Among these were pundits at such financial industry heavyweights as Wells Fargo, J.P. Morgan, and international bank UBS. Positive moves from cautious pundits I should note that in all cases, those price target raises were incremental. Nevertheless, the raising analysts frequently sounded bullish notes on Medtronic's prospects. One example was Leerink Partners' Mike Kratky, who only added $1 per share for a new level of $111, but maintained his outperform (read: buy) recommendation. According to reports, Kratky praised several elements of the company's operations, particularly its cardiac ablation solutions unit. Less positively, the analyst wrote that Medtronic suffered from weakness in its domestic sales. Should you invest $1,000 in Medtronic right now? Before you buy stock in Medtronic, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Medtronic wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $654,781!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,076,588!* Now, it's worth noting Stock Advisor's total average return is 1,055% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 18, 2025 Wells Fargo is an advertising partner of Motley Fool Money. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Medtronic and recommends the following options: long January 2026 $75 calls on Medtronic and short January 2026 $85 calls on Medtronic. The Motley Fool has a disclosure policy. Why Medtronic Stock Raced Higher Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 minutes ago
- Yahoo
Florida sues textbook giants for alleged $60M fraud: '5900 instances of Overcharges,' governor says
The state has filed a lawsuit seeking to claw back millions of dollars from two of the nation's largest textbook publishing companies.
