CLF Earnings Prediction
The chart below shows how CLF performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CLF sees a +4.51% change in stock price 10 days leading up to the earnings, and a -0.69% change 10 days following the report. On the earnings day itself, the stock moves by -1.51%. This data can give you a slight idea of what to expect for the next quarter's release.
CLF Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
4.57B
-18.48%
-10.27%
Gross Margin
-2.28%
-126.64%
-171.70%
Operating Margin
-5.32%
-191.72%
-691.11%
Net Margin
-5.03%
-202.86%
-2894.44%
EPS
-0.52
-200.00%
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No Data Available
CLF Earnings Analysis
Cleveland-Cliffs Inc. Corporation (CLF.N) Earnings Conference Call
Positive
Adjusted EBITDA Performance: The company achieved an adjusted EBITDA of $124 million on 3.8 million tons of shipments during the third quarter.
Cost Synergies from Acquisition: Cleveland-Cliffs expects to generate $120 million of cost synergies within the first year of the Stelco acquisition.
Unit Cost Reduction: The company reported a significant reduction in unit costs by over $40 per ton during the quarter, exceeding previous guidance.
Cost Management Analysis: Cleveland-Cliffs' quarterly SG&A of $112 million and capital spending of $151 million remained substantially below averages for the past four years.
Phase 1 Funding Approval: The company has received Phase 1 funding approvals for energy efficiency projects, allowing them to proceed with strategic initiatives.
Negative
Steel Demand Impact: Q3 results were impacted by weaker steel demand and pricing throughout the quarter, which were partially offset by a great cost performance by our team.
Adjusted EBITDA Performance: These factors drove an adjusted EBITDA of $124 million on 3.8 million tons of shipments during the third quarter.
Automotive Build Rate Decline: North American automotive build rates in Q3 were the lowest since the depths of the semiconductor shortage a few years ago, with only 3.75 million units built during the quarter.
Production Adjustment Strategy: Given the ongoing demand weakness, we temporarily idled one of our blast furnaces in Cleveland to better align production with our order book, as both automotive and service center customers reduced their order activity during the third quarter.
Price and Shipment Decline: Overall, average selling price fell $80 per ton and shipments fell 150,000 tons compared to the prior quarter.
CLF FAQs
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CLF Earning Call Sentiment
Cleveland-Cliffs Inc. (CLF) Q3 2024 Earnings Call Transcript
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CLF.N
-5.26%Positive
The earnings call highlights several negative factors: reduced shipments, lower average selling prices, and weaker demand in key sectors like automotive. Despite some positive aspects like cost synergies from the Stelco acquisition and improved coal contracts, the overall sentiment remains negative. The Q&A section did not alleviate concerns, as management avoided specifics on critical issues like automotive impact. The reprioritization towards debt repayment over share repurchases further signals caution. Given these factors, the stock is likely to experience a negative reaction in the short term.
