secwatch.observer — SEC 8-K summary
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Issuer:     CLEVELAND-CLIFFS INC. (CLF)
CIK:        0000764065
Form:       8-K
Filed at:   2023-02-13T23:59:59+00:00
Accession:  0000764065-23-000029
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cleveland-Cliffs reports record $23B revenue in FY2022; Q4 net loss $204M
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- Full-year revenue $23.0B (record), net income $1.4B ($2.55 diluted EPS); adjusted EBITDA $3.2B.
- Q4 revenue $5.0B, net loss $204M ($0.41 loss per share); adjusted EBITDA $123M vs $1.5B in Q4 2021.
- Steelmaking segment Q4 adjusted EBITDA $109M; average selling price $1,156/ton vs $1,423/ton in Q4 2021.
- Reduced debt by $1.1B and pension/OPEB liabilities by $2.1B in FY2022; total liquidity ~$2.5B.
- Guides FY2023 steel shipments ~16M tons (up from 14.8M), capex $700-750M (down from $943M), and expects sequential EBITDA improvement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764065/000076406523000029/0000764065-23-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764065/000076406523000029/clf-20230213.htm
  HTML page:      https://secwatch.observer/filing/0000764065-23-000029

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