secwatch.observer — SEC 8-K summary
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Issuer:     CLEVELAND-CLIFFS INC. (CLF)
CIK:        0000764065
Form:       8-K
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0000764065-24-000202
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cleveland-Cliffs reports Q3 revenue $4.6B, GAAP net loss $230M; idles blast furnace; Stelco deal closed
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- Revenue $4.6B, 3.8M net ton shipments; GAAP net loss $230M ($0.52 diluted EPS).
- Adjusted net loss $156M ($0.33/sh); adjusted EBITDA $124M; lower vs Q2.
- Cites weaker auto demand; idled Cleveland #6 blast furnace; lowest unit cost since 2021.
- Stelco acquisition closed Nov 1; Stelco Q3 adj EBITDA US$64M (13% margin); shipments 639K tons.
- Lowered 2024 capex to $600-$650M; 2025 standalone capex ~$600M; strategic projects.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764065/000076406524000202/0000764065-24-000202-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764065/000076406524000202/clf-20241104.htm
  HTML page:      https://secwatch.observer/filing/0000764065-24-000202

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