secwatch.observer — SEC 8-K summary
======================================

Issuer:     CLEVELAND-CLIFFS INC. (CLF)
CIK:        0000764065
Form:       8-K
Filed at:   2023-04-24T23:59:59+00:00
Accession:  0000764065-23-000079
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cleveland-Cliffs reports Q1 results: net loss $42M, revenue $5.3B, adjusted EBITDA $243M
--------------------------------------------------------------------------------

- GAAP net loss of $42M ($0.11 diluted EPS) vs Q4 2022 loss of $204M ($0.41).
- Adjusted EBITDA of $243M, up from $123M in Q4 2022.
- Steel shipments of 4.1M net tons; average selling price $1,128/ton.
- Direct automotive sales mix increased to 36% of steelmaking revenues.
- Full-year 2023 capex guidance lowered to $675-$725M from $700-$750M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764065/000076406523000079/0000764065-23-000079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764065/000076406523000079/clf-20230424.htm
  HTML page:      https://secwatch.observer/filing/0000764065-23-000079

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer