secwatch.observer — SEC 8-K summary
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Issuer:     CLEVELAND-CLIFFS INC. (CLF)
CIK:        0000764065
Form:       8-K
Filed at:   2025-02-24T23:59:59+00:00
Accession:  0000764065-25-000055
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764065/000076406525000055/0000764065-25-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764065/000076406525000055/clf-20250224.htm
  HTML page:      https://secwatch.observer/filing/0000764065-25-000055

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