Cleveland-Cliffs reports Q4 net loss $235M, full-year loss $1.4B; 2026 guidance issued

CLEVELAND-CLIFFS INC.

2025-FY EPS reported -$2.91 revenue$18,610,000,000

Q4 2025 revenues $4.3B flat YoY; GAAP net loss $235M ($0.44/diluted share), adjusted loss $0.43.
Full-year 2025 net loss $1.4B ($2.91/diluted), adjusted loss $2.48; Adjusted EBITDA $37M vs $773M in 2024.
Steel shipments Q4 3.8M tons (down 1.5% YoY); average selling price $993/ton up 1.7% YoY.
CEO cites weak automotive, expiring slab contract, Canadian headwinds; 2026 outlook improved.
POSCO strategic partnership due diligence ongoing; targeting definitive agreement H1 2026.

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