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.
“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”
Debt Financings
CLEVELAND-CLIFFS INC. incurred senior notes of $275,000,000 at 7.625% maturing January 15, 2034.
“On October 10, 2025, Cleveland-Cliffs Inc. (the “Company”) issued an additional $275,000,000 aggregate principal amount of 7.625% Senior Guaranteed Notes due 2034 (the “Additional Notes”) in a private transaction exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”).”
Debt Financings
CLEVELAND-CLIFFS INC. incurred senior notes of $850,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 7.625% maturing January 15, 2034.
“On September 8, 2025, Cleveland-Cliffs Inc. (the “Company”) issued $850,000,000 aggregate principal amount of 7.625% Senior Guaranteed Notes due 2034 (the “Notes”) in a private transaction exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”).”
Jane M. Cronin was appointed as Director at CLEVELAND-CLIFFS INC..
“On January 3, 2025, the Board of Directors (the “Board”) of Cleveland-Cliffs Inc. (the “Company”) appointed Jane M. Cronin to the Board, effective immediately.”
Janet L. Miller resigned as member of the Board of Directors at CLEVELAND-CLIFFS INC..
“On June 26, 2024, Janet L. Miller submitted her resignation, effective as of June 28, 2024, as a member of the Board of Directors of Cleveland-Cliffs Inc.”
Shareholder Votes
CLEVELAND-CLIFFS INC. shareholders approved Ratification of the Appointment of Deloitte & Touche LLP as the Company's Independent Registered Public Accounting Firm for 2024 at the 2024-05-16 meeting.
“Proposal No. 3: Ratification of the Appointment of Deloitte & Touche LLP as the Company's Independent Registered Public Accounting Firm for 2024 This proposal received an affirmative vote of more than a majority of the shares present, in person or represented by proxy, at the Annual Meeting and entitled to vote. The voting results were as follows: FOR 368,365,867 AGAINST 8,395,943 ABSTAIN 3,050,637”
Shareholder Votes
CLEVELAND-CLIFFS INC. shareholders approved Approval, on an Advisory Basis, of our Named Executive Officers' Compensation at the 2024-05-16 meeting.
“Proposal No. 2: Approval, on an Advisory Basis, of our Named Executive Officers' Compensation This proposal received an affirmative vote of more than a majority of the shares present, in person or represented by proxy, at the Annual Meeting and entitled to vote. The voting results were as follows: FOR 220,508,328 AGAINST 75,276,815 ABSTAIN 4,114,345 BROKER NON-VOTES 79,912,959”
Shareholder Votes
CLEVELAND-CLIFFS INC. shareholders approved Election of Directors at the 2024-05-16 meeting.
“All of the Company's nominees were elected as directors by the votes indicated below for a term that will expire on the date of the Company's 2025 annual meeting of shareholders: NOMINEES FOR WITHHELD BROKER NON-VOTES Lourenco Goncalves 281,486,375 18,413,113 79,912,959 Douglas C. Taylor 289,072,079 10,827,409 79,912,959 John T. Baldwin 289,439,723 10,459,765 79,912,959 Ron A. Bloom 294,378,504 5,520,984 79,912,959 Susan M. Green 289,597,778 10,301,710 79,912,959 Ralph S. Michael, III 285,166,593 14,732,895 79,912,959 Janet L. Miller 292,387,445 7,512,043 79,912,959 Ben Oren 286,801,987 13,097,501 79,912,959 Gabriel Stoliar 293,691,653 6,207,835 79,912,959 Arlene M. Yocum 293,687,560 6,211,928 79,912,959”
Earnings Releases
CLEVELAND-CLIFFS INC. reported first quarter ended March 31, 2024 results: revenue $5.2 billion, net income $53 million, EPS $0.14 per diluted share. Guidance reaffirmed.
“reported first-quarter results for the period ended March 31, 2024. First Quarter 2024 Highlights • Repurchased 30.4 million shares, or 6% of total outstanding • Revenues of $5.2 billion • Steel shipments of 3.9 million net tons • GAAP net loss of $53 million and adjusted net income 1 of $87 million • Adjusted EPS 1 of $0.18 per diluted share • Adjusted EBITDA 2”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.