---
schema_version: "secwatch.filing_event.v1"
accession: "0000764065-25-000100"
form_type: "8-K"
ticker: "CLF"
cik: "0000764065"
company_name: "CLEVELAND-CLIFFS INC."
filed_at: "2025-05-07T23:59:59+00:00"
generated_at: "2026-05-22T09:48:55.259250+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Cleveland-Cliffs Q1 net loss $483M, idles six facilities for $300M+ annual savings

## Summary
- Q1 GAAP net loss $483M ($1.00/sh), adjusted loss $456M ($0.92/sh); revenues $4.6B vs $4.3B Q4.
- Adjusted EBITDA loss $174M vs loss $81M in Q4; steel selling price $980/ton down from $1,175 YoY.
- Six facilities fully or partially idled; expected annual savings >$300M; flat-rolled output unchanged.
- Full-year 2025 capex guidance reduced to $625M from $700M; SG&A to $600M from $625M.
- Slab contract with ArcelorMittal/Nippon Steel ending year-end; termination seen as $500M annualized EBITDA benefit from 2026.

## SEC filing metadata
- accession: 0000764065-25-000100
- form_type: 8-K
- ticker: CLF
- cik: 0000764065
- company_name: CLEVELAND-CLIFFS INC.
- filed_at: 2025-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/764065/000076406525000100/0000764065-25-000100-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/764065/000076406525000100/clf-20250507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000764065-25-000100
- JSON: https://secwatch.observer/filing/0000764065-25-000100.json
- Plain text: https://secwatch.observer/filing/0000764065-25-000100.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.