Highest-materiality recent filing
Cleveland-Cliffs Q1 net loss $229M; revenue $4.9B; adj EBITDA $95M with $80M weather hit
GAAP net loss of $229M ($0.42/diluted); adjusted net loss $0.40/diluted.
Cleveland-Cliffs reports Q4 net loss $235M, full-year loss $1.4B; 2026 guidance issued
Q4 2025 revenues $4.3B flat YoY; GAAP net loss $235M ($0.44/diluted share), adjusted loss $0.43.
Cleveland-Cliffs Q3 GAAP net loss $234M, adjusted EBITDA $143M, guides lower capex
GAAP net loss $234M ($0.45/diluted); adjusted net loss $223M; revenues $4.7B.
Cleveland-Cliffs prices $850M notes at 7.625%, redeems $685M in 2027 notes
Launched and priced $850M aggregate principal amount of Senior Guaranteed Notes due 2034 at 7.625% interest, upsized from initial $600M.
Cleveland-Cliffs Q2: record steel shipments 4.3M tons; GAAP net loss $470M
Revenues $4.9B; GAAP net loss $470M includes $323M non-recurring charges.
Cleveland-Cliffs Q1 net loss $483M, idles six facilities for $300M+ annual savings
Q1 GAAP net loss $483M ($1.00/sh), adjusted loss $456M ($0.92/sh); revenues $4.6B vs $4.3B Q4.
Cleveland-Cliffs reports full-year 2024 net loss of $708M; revenue down 13% to $19.2B
Full-year 2024 consolidated revenues $19.2B vs $22.0B in 2023; net loss of $708M ($1.57 diluted EPS).
Q4 expected revenues ~$4.3B, steel shipments 3.8M net tons; FY2024 adj. EBITDA ~$775M (pro-forma $1.2B incl. Stelco).
Cliffs completes Stelco acquisition; Stelco FY2023 net income plunged to C$149M from C$997M
Stelco FY2023 revenue C$2,917M, net income C$149M, vs FY2022 revenue C$3,463M, net income C$997M.
Revenue $4.6B, 3.8M net ton shipments; GAAP net loss $230M ($0.52 diluted EPS).
Cleveland-Cliffs completes Stelco acquisition for C$60 cash + 0.454 CLF shares per share
Acquisition consummated November 1, 2024 via statutory plan of arrangement under Canada Business Corporation Act.
Cleveland-Cliffs issues $1.8B in 6.875%/7.375% senior notes to fund Stelco acquisition
Issued $900M 6.875% Senior Notes due 2029 and $900M 7.375% Senior Notes due 2033.
Cleveland-Cliffs launches $1.6B private offering of senior guaranteed notes due 2029/2033
Offering consists of $800M in 2029 Notes and $800M in 2033 Notes, aggregate principal $1.6B.
Cleveland-Cliffs prices $1.8B senior notes to fund Stelco acquisition
Upsized offering: $900M 6.875% Senior Guaranteed Notes due 2029 and $900M 7.375% Notes due 2033, both at par.
Cleveland-Cliffs amends $4.75B ABL credit facility to finance Stelco acquisition
Entered Sixth Amendment to $4.75B asset-based revolving credit agreement on September 13, 2024.
Cleveland-Cliffs issues additional $600M of 7% senior notes due 2032 for Stelco acquisition
Issued $600M aggregate principal of 7.000% Senior Guaranteed Notes due 2032, add-on to existing $825M notes.
Initial $500M offering upsized to $600M aggregate principal; notes priced at 99.25% of par.
Cleveland-Cliffs Q2 net income $9M, adj EPS $0.11; lowers FY2024 capex to $650-700M
Revenue $5.1B, steel shipments 4.0M net tons; GAAP net income $9M, adjusted net income $50M.
Cliffs to acquire Stelco for ~$2.5B enterprise value; CAD $70/share total consideration
Stelco shareholders receive CAD $60 cash + 0.454 Cliffs shares per share, total CAD $70 (approx. $51/share as of July 12).
Cleveland-Cliffs Q1 adj. net income $87M, launches $1.5B share repurchase
Revenues of $5.2B; GAAP net loss $53M (diluted EPS -$0.14) but adjusted net income $87M ($0.18 adj. EPS).
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.
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.
Max materiality 0.85 · Median 0.65 · Most common event debt