Cleveland-Cliffs Q1 net loss $229M; revenue $4.9B; adj EBITDA $95M with $80M weather hit

CLEVELAND-CLIFFS INC.

2026-Q1 EPS reported -$0.42 revenue$4,922,000,000

GAAP net loss of $229M ($0.42/diluted); adjusted net loss $0.40/diluted.
Revenue $4.9B (up from $4.6B Q1 2025); steel shipments 4.1M net tons (+338K QoQ).
Adj EBITDA $95M includes $80M one-time cold weather energy cost impact.
Average steel selling price $1,048/ton; hot-rolled 44% of product mix.
FY 2026 guidance reaffirmed: 16.5-17.0M tons shipment, capex ~$700M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CLEVELAND-CLIFFS INC. reported first quarter for the quarter ended March 31, 2026 results: revenue $4.9 billion, net income GAAP net loss of $229 million, or $0.42 per diluted share. Guidance reaffirmed.

Period: first quarter for the quarter ended March 31, 2026
Revenue: $4.9 billion
Net income: GAAP net loss of $229 million, or $0.42 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

for the period ended March 31, 2026. First-Quarter Consolidated Results • Steel shipments of 4.1 million net tons, a 338,000 increase from the prior quarter • Revenues of $4.9 billion, a $600 million increase from the prior quarter • GAAP net loss of $229 million, or $0.42 per diluted share • Adjusted EBITDA 2 of $95 million, inclusive of an $80 million

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Source: SEC EDGAR

accession 0000764065-26-000067

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