secwatch.observer — SEC 8-K summary
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Issuer:     CLEVELAND-CLIFFS INC. (CLF)
CIK:        0000764065
Form:       8-K
Filed at:   2026-07-23T10:27:24+00:00
Accession:  0000764065-26-000097
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cleveland-Cliffs Q2 net loss narrows to $0.25/sh; adj EBITDA $286M, Q3 guidance $575M
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- Revenues $5.2B, up $300M from Q1; GAAP net loss $134M ($0.25/sh) vs Q1 loss $229M ($0.42/sh).
- Adjusted EBITDA $286M, tripled from Q1 $95M; Q3 guidance ~$575M (more than double Q2).
- Steel product sales volumes 4.0M net tons; average selling price $1,124/ton.
- Full-year 2026 guidance maintained: steel shipments 16.5-17.0M tons, capex ~$700M.
- CEO expects to reach leverage target <2.5x debt/EBITDA by mid-2027; positive free cash flow in Q2.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764065/000076406526000097/0000764065-26-000097-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764065/000076406526000097/clf-20260723.htm
  HTML page:      https://secwatch.observer/filing/0000764065-26-000097

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer