Cleveland-Cliffs Q4 revenue misses estimates, adjusted EPS beats
Overview
North America steel producer's Q4 revenue was $4.3 bln, missing analyst expectations
Adjusted loss per share Q4 was smaller than analyst expectations
Company attributes 2025 performance to weak automotive sector and market challenges
Outlook
Company expects 2026 steel shipment volumes between 16.5 mln and 17.0 mln net tons
Cleveland-Cliffs anticipates steel unit cost reductions of $10 per net ton in 2026
Company projects 2026 capital expenditures of approximately $700 mln
Result Drivers
AUTOMOTIVE SECTOR IMPACT - CEO Lourenco Goncalves cited weak production levels in the automotive sector as a negative factor for 2025 results
SLAB CONTRACT EXPIRATION - Expiring five-year slab contract was value-destructive in its last year, according to CEO Lourenco Goncalves
CANADIAN MARKET CHALLENGES - Newly adverse dynamics in the Canadian market affected 2025 performance, per CEO Lourenco Goncalves
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Miss | $4.3 bln | $4.59 bln (9 Analysts) |
Q4 Adjusted EPS | Beat | -$0.43 | -$0.60 (7 Analysts) |
Q4 EPS |
| -$0.44 |
|
Q4 Net Income |
| -$235 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "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 $13.00, about 11.7% below its February 6 closing price of $14.73
Press Release: ID:nBw2JmbLPa
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