Cleveland-Cliffs Q2 adjusted loss per share beats estimates
Overview
Cleveland-Cliffs Q2 2025 revenue misses analyst expectations, per LSEG data
Adjusted loss per share for Q2 beats consensus, reflecting cost optimization benefits
Adjusted EBITDA for Q2 beats estimates
Outlook
Company expects 2025 capital expenditures of $600 mln, down from $625 mln
Cleveland-Cliffs sees 2025 SG&A expenses at $575 mln, down from $600 mln
Company anticipates 2025 depreciation, depletion and amortization at $1.2 bln, up from $1.1 bln
Cleveland-Cliffs maintains steel unit cost reduction of $50 per net ton
Result Drivers
FOOTPRINT OPTIMIZATION - Initiatives led to cost reductions and improved adjusted EBITDA, per CEO Lourenco Goncalves
INVENTORY REDUCTION - Reduced inventories drove a meaningful release in working capital during the qtr
STEEL SHIPMENTS - Record steel shipments of 4.3 mln net tons in Q2 2025
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $4.90 bln | $4.93 bln (8 Analysts) |
Q2 Adjusted EPS | Beat | -$0.5 | -$0.74 (7 Analysts) |
Q2 Net Income |
| -$470 mln |
|
Q2 Adjusted EBITDA | Beat | $97 mln | -$7.38 mln (7 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the iron & steel peer group is "buy."
Wall Street's median 12-month price target for Cleveland-Cliffs Inc is $8.75, about 8.3% below its July 18 closing price of $9.48
Press Release: ID:nBw3RxGbsa
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