Cleveland-Cliffs reports full-year 2024 net loss of $708M; revenue down 13% to $19.2B

CLEVELAND-CLIFFS INC.

2024-FY EPS reported -$1.57 revenue$19,185,000,000

Full-year 2024 consolidated revenues $19.2B vs $22.0B in 2023; net loss of $708M ($1.57 diluted EPS).
Q4 2024 adjusted EBITDA loss of $81M vs $279M in Q4 2023; GAAP net loss of $434M ($0.92/share).
Steel product sales volume 15.6M net tons in 2024; average selling price $1,081/ton vs $1,171/ton in 2023.
2025 expectations: steel unit cost reductions ~$40/ton; capex ~$700M; includes Stelco operations.
CEO cites worst steel demand since 2010 (ex-COVID); expects rebound in 2025 supported by trade enforcement.

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