Earning Analysis
Welcome to our in-depth analysis of Cleveland-Cliffs Inc(CLF) earnings, offering investors a detailed look into the company’s financial performance, revenue trends, earnings per share (EPS), and market reactions. This page provides a comprehensive overview of Cleveland-Cliffs Inc earnings history, forecasts, and key financial metrics, empowering you with the data needed to make informed investment decisions. Whether you're tracking quarterly results, analyzing earnings surprises, or exploring future projections, our detailed breakdown covers it all.
Earnings Forecast
Revenue
EPS
Currency: USD
Actual
Estimate
Surprise Analysis
| FY2025Q3 | 2025-10-20 | Pre-Market | -0.48 | -0.45 | +6.25 | 4.90B | 4.73B | -3.31 | +21.47 | -1.95 |
| FY2025Q2 | 2025-07-21 | Pre-Market | -0.67 | -0.50 | +25.37 | 4.91B | 4.93B | +0.55 | +12.45 | +15.08 |
| FY2025Q1 | 2025-05-07 | After Hours | -0.78 | -0.92 | -17.95 | 4.64B | 4.63B | -0.22 | -15.78 | -10.72 |
| FY2024Q4 | 2025-02-24 | After Hours | -0.65 | -0.68 | -4.62 | 4.31B | 4.33B | +0.26 | -3.23 | -9.51 |
| FY2024Q3 | 2024-11-04 | After Hours | -0.31 | -0.33 | -6.45 | 4.72B | 4.57B | -3.19 | -11.44 | -4.50 |
| FY2024Q2 | 2024-07-22 | - | 0.00 | 0.11 | - | 5.19B | 5.09B | -1.84 | +0.26 | +1.98 |
| FY2024Q1 | 2024-04-22 | - | 0.19 | 0.18 | -5.26 | 5.33B | 5.20B | -2.54 | +0.19 | -14.08 |
| FY2023Q4 | 2024-01-29 | - | -0.07 | -0.05 | +28.57 | 5.15B | 5.11B | -0.74 | +2.55 | +10.42 |
| FY2023Q3 | 2023-10-23 | - | 0.44 | 0.54 | +22.73 | 5.53B | 5.61B | +1.30 | -1.51 | +9.94 |
| - | 2023-04-24 | - | -0.21 | -0.11 | +47.62 | - | - | - | +2.08 | -3.15 |
CLF Earnings Analysis
Our earnings analysis provides a granular look at the company’s performance across recent fiscal quarters, highlighting key metrics such as revenue, EPS, and operating margins. By examining actual results against analyst estimates, we uncover trends and surprises that drive stock price movements, offering valuable insights for both short-term traders and long-term investors.
In the most recent quarter, Cleveland-Cliffs Inc reported performance for FY2025Q3, announced on 2025-10-20. The company achieved an EPS of -0.45, compared to analyst estimates of -0.48 by 6.25% . Revenue for the quarter reached 4.73B compared to expectations of 4.90B by -3.31% .
The stock price reacted with a 21.47% one-day change and a -1.95% five-day change following the earnings release. These movements reflect market reaction in Cleveland-Cliffs Inc growth trajectory and strategic initiatives.
CLF Earnings Forecast
Looking ahead, Cleveland-Cliffs Inc(CLF) remains a focal point for investors seeking growth opportunities. Analyst forecasts for 2025/Q4 project quarter revenue of 4.65B and an EPS of -0.50.
However, recent estimate revisions provide additional context. Over the past three months, revenue estimates for FY2025 have been Revise Downward by -1.98%, while EPS estimates have been Revise Upward by 9.5%. For the upcoming Q4 2025, revenue estimates have been adjusted Revise Downward by -4.37% . These revisions correlate with a 11.94% change in stock price over the same period, suggesting potential buying opportunities for investors who believe in Cleveland-Cliffs Inc long-term fundamentals.
The relationship between earnings forecast revisions and stock price movements is critical for investors. Positive revisions in revenue or EPS often signal strengthening fundamentals, making temporary price dips attractive entry points. Conversely, downward revisions may reflect short-term challenges.
Estimate Revision
The chart shows the correlation between CLF's stock price and earnings forecast revisions. Positive revisions in Revenue or EPS often strengthen the stock's fundamentals, making price dips potential buying opportunities.
Revenue Estimates for FY2025
Revise Downward
-1.98%
In Past 3 Month
EPS Estimates for FY2025
Revise Upward
+9.5%
In Past 3 Month
Revenue Estimates for Q4 2025
Revise Downward
-4.37%
In Past 3 Month
Stock Price
Go Up
+11.94%
In Past 3 Month
1Y
3Y
5Y
Annual FY 2025
Currency: USD
1Y
3Y
5Y
--
Revenue Estimate-Annual FY 2025:18.95B
--
EPS Estimate-Annual FY 2025:-2.42
—
Stock Price12.75
CLF Revenue and EPS Performance: A Historical Perspective
Cleveland-Cliffs Inc revenue and earnings per share (EPS) performance over recent quarters provides a clear picture of its financial health. Below is a detailed breakdown of the company’s earnings history, showcasing actual results, analyst estimates, and surprise percentages for key fiscal quarters:
FY2025Q3 (2025-10-20,Pre-Market):
EPS: -0.45 (Actual) vs.-0.48 (Estimate) (6.25%)
Revenue: 4.73B (Actual) vs. 4.90B (Estimate) (-3.31%)
Price Reaction: 21.47%(1-Day), -1.95%(5-Day)
FY2025Q2 (2025-07-21,Pre-Market):
EPS: -0.50 (Actual) vs.-0.67 (Estimate) (25.37%)
Revenue: 4.93B (Actual) vs. 4.91B (Estimate) (0.55%)
Price Reaction: 12.45%(1-Day), 15.08%(5-Day)
FY2025Q1 (2025-05-07,After Hours):
EPS: -0.92 (Actual) vs.-0.78 (Estimate) (-17.95%)
Revenue: 4.63B (Actual) vs. 4.64B (Estimate) (-0.22%)
Price Reaction: -15.78%(1-Day), -10.72%(5-Day)
Earnings Reaction
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 -3.23% change in stock price 10 days leading up to the earnings, and a -10.13% change 10 days following the report. On the earnings day itself, the stock moves by +3.31%. This data can give you a slight idea of what to expect for the next quarter's release.
For example, in SEP/2025, the stock changed -17.24% on the day following the earnings release and then changed by -26.64% over the next 10 days. These patterns provide investors with valuable insights into potential price movements and help inform trading strategies around earnings events.
Transcript Summary
Cleveland-Cliffs Inc (CLF) Q3 2025 Earnings Call Summary
Positive
2025-10-20
The earnings call summary indicates strong financial performance with a 52% increase in adjusted EBITDA, favorable pricing due to automotive strength, and significant cost reductions. The company is also expanding its stainless steel business and exploring rare earth opportunities. Despite some uncertainties in the Q&A regarding timelines and specifics, the strategic focus on automotive and cost efficiencies, along with the potential for significant EBITDA growth and debt reduction, suggest a positive outlook for the stock price.
Cleveland-Cliffs Inc (CLF) Q2 2025 Earnings Call Summary
Positive
2025-07-21
The company's earnings call reflects a positive sentiment overall. Despite an adjusted EBITDA loss, the company anticipates improved financial results in the latter half of 2025. Operational efficiency improvements, increased shipment volumes, and cost reductions signal a positive outlook. The Q&A section further supports optimism with cost-saving strategies and potential growth in automotive volumes. However, management's avoidance of specifics on certain projects and opportunities tempers the outlook slightly. Given these factors, a positive stock price movement of 2% to 8% is expected.
Cleveland-Cliffs Inc (CLF) Q1 2025 Earnings Call Summary
Negative
2025-05-08
The earnings call indicates several negative factors, including problematic AB supply, layoffs, economic pressures, and elevated debt levels. The company reported an EBITDA loss and increased unit costs, with no share repurchase program announced. While there is some optimism in cost reductions and liquidity, the Q&A reveals concerns about tariffs, competition, and unclear management responses. Overall, the negative aspects outweigh the positives, leading to a negative sentiment rating.
Cleveland-Cliffs Inc. (CLF) Q3 2024 Earnings Call Summary
Negative
2024-11-05
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.
Cleveland-Cliffs Inc. (CLF) Q2 2024 Earnings Call Summary
Positive
2024-07-23
The earnings call presents a positive outlook: Cleveland-Cliffs is actively reducing debt, increasing share buybacks, and investing in growth projects like the transformer plant. Despite lower pricing, cost reductions are improving EBITDA. The Q&A reveals a strong focus on cost management and strategic customer selection, with management providing optimistic guidance on future cost reductions and EBITDA contributions. The company's commitment to environmental targets and the unique transformer opportunity further bolster the positive sentiment.
People Also Watch
FAQ
What were the key highlights of CLF’s latest earnings report for FY2025Q3?
How did CLF’s stock price react after the FY2025Q3 earnings release?
What are the revenue and EPS estimates for CLF for 2025/Q4?
How does CLF’s stock price correlate with earnings forecast revisions?
What should investors expect from CLF’s next earnings report?