The following summarizes the recent quarterly financial performance of Cleveland-Cliffs Inc. (CLF):
In its first-quarter earnings, the company reported a loss of $53 million, compared to a loss of $43 million in the same period the previous year. The loss per share (EPS) for the quarter was recorded at -$0.14, compared to -$0.11 in the same quarter of the previous year.
However, after removing specific extraordinary items, Cleveland-Cliffs Inc. reported an adjusted profit of $87 million, which equates to $0.18 per share. This figure falls short of analysts' projected earnings of $0.22 per share.
In terms of revenue, the company generated $5.20 billion in the first quarter, slightly lower than the $5.30 billion revenue of the same period last year.
