Cleveland-Cliffs Inc. (CLF) Income Statement Analysis

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Complete financial analysis of Cleveland-Cliffs Inc. (CLF) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Cleveland-Cliffs Inc., a leading company in the Steel industry within the Basic Materials sector.

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Cleveland-Cliffs Inc. (CLF)

Industry: Steel

Sector: Basic Materials

Website: https://www.clevelandcliffs.com

About Cleveland-Cliffs Inc.

Cleveland-Cliffs Inc. operates as a flat-rolled steel producer in North America. The company offers carbon steel products, such as hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, hot-dip galvannealed, aluminized, enameling, and advanced high-strength steel products; stainless steel products; plates; and grain oriented and non-oriented electrical steel products. It also provides tubular components, including carbon steel, stainless steel, and electric resistance welded tubing. In addition, the company offers tinplate products, such as electrolytic tin coated and chrome coated sheet, and tin mill products; tooling and sampling; raw materials; ingots, rolled blooms, and cast blooms; and hot-briquetted iron products. Further, it owns five iron ore mines in Minnesota and Michigan. The company serves automotive, infrastructure and manufacturing, distributors and converters, and steel producers. Cleveland-Cliffs Inc. was formerly known as Cliffs Natural Resources Inc. and changed its name to Cleveland-Cliffs Inc. in August 2017. The company was founded in 1847 and is headquartered in Cleveland, Ohio.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985
Revenue	22.00B	22.99B	20.44B	5.35B	1.99B	2.33B	2.33B	2.11B	2.01B	4.62B	5.69B	5.87B	6.79B	4.68B	2.34B	3.61B	2.28B	1.92B	1.74B	1.21B	857.70M	598.60M	330.40M	430.10M	361.40M	493.80M	438.90M	503.20M	460.70M	388.90M	355.90M	310.70M	317.40M	309.90M	350.50M	393.30M	363.20M	266.80M	326.40M
Cost of Revenue	20.61B	20.47B	15.91B	5.10B	1.41B	1.52B	1.82B	1.72B	1.78B	4.17B	4.54B	4.70B	4.11B	3.16B	2.03B	2.45B	1.81B	1.51B	1.35B	1.06B	835.00M	582.70M	401.80M	354.60M	296.50M	377.70M	335.60M	375.30M	339.60M	285.50M	239.30M	227.00M	239.30M	249.90M	224.90M	279.00M	329.20M	283.70M	273.00M
Gross Profit	1.39B	2.52B	4.53B	252.00M	575.70M	809.60M	509.60M	389.30M	236.50M	451.40M	1.15B	1.17B	2.69B	1.52B	308.90M	1.16B	462.00M	414.00M	389.00M	149.90M	22.70M	15.90M	-71.40M	75.50M	64.90M	116.10M	103.30M	127.90M	121.10M	103.40M	116.60M	83.70M	78.10M	60.00M	125.60M	114.30M	34.00M	-16.90M	53.40M
Gross Profit Ratio	6.32%	10.95%	22.18%	4.71%	28.93%	34.71%	21.87%	18.46%	11.75%	9.76%	20.19%	19.96%	39.57%	32.54%	13.19%	32.13%	20.31%	21.54%	22.36%	12.42%	2.65%	2.66%	-21.61%	17.55%	17.96%	23.51%	23.54%	25.42%	26.29%	26.59%	32.76%	26.94%	24.61%	19.36%	35.83%	29.06%	9.36%	-6.33%	16.36%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling & Marketing	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	577.00M	465.00M	422.00M	244.00M	119.40M	116.80M	105.80M	117.80M	110.00M	208.70M	231.60M	282.50M	274.40M	238.00M	-120.70M	186.40M	114.20M	64.00M	47.90M	37.60M	25.10M	23.80M	21.00M	18.70M	16.10M	18.70M	17.10M	16.70M	15.10M	15.90M	15.20M	16.60M	19.70M	15.20M	17.90M	22.00M	18.90M	17.30M	14.90M
Other Expenses	137.00M	110.00M	80.00M	60.00M	27.00M	17.20M	3.20M	400.00K	-2.60M	26.80M	900.00K	2.70M	80.50M	20.50M	-42.00M	-47.40M	-30.60M	-11.70M	-1.10M	141.40M	32.80M	67.90M	0.00	25.60M	22.50M	20.30M	18.90M	17.60M	16.80M	14.40M	13.50M	14.10M	16.00M	14.60M	15.00M	20.30M	2.70M	17.20M	18.10M
Operating Expenses	714.00M	575.00M	502.00M	304.00M	146.40M	136.40M	78.10M	148.50M	81.90M	443.80M	227.50M	431.00M	354.90M	258.50M	-78.70M	220.80M	83.60M	52.30M	46.80M	179.00M	25.10M	23.80M	21.00M	44.30M	38.60M	39.00M	36.00M	34.30M	31.90M	30.30M	28.70M	30.70M	35.70M	29.80M	32.90M	42.30M	21.60M	34.50M	33.00M
Cost & Expenses	21.32B	21.05B	16.41B	5.41B	1.56B	1.66B	1.90B	1.87B	1.86B	4.62B	4.77B	5.13B	4.46B	3.42B	1.95B	2.67B	1.90B	1.56B	1.40B	1.24B	860.10M	606.50M	422.80M	398.90M	335.10M	416.70M	371.60M	409.60M	371.50M	315.80M	268.00M	257.70M	275.00M	279.70M	257.80M	321.30M	350.80M	318.20M	306.00M
Interest Income	0.00	276.00M	337.00M	238.00M	101.00M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	9.50M	9.90M	10.80M	26.20M	0.00	0.00	0.00	0.00	10.60M	4.80M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	289.00M	276.00M	337.00M	238.00M	101.20M	118.90M	132.00M	200.50M	228.50M	185.20M	179.10M	195.60M	216.50M	69.70M	39.00M	39.80M	0.00	0.00	0.00	0.00	4.60M	6.60M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation & Amortization	973.00M	1.03B	904.00M	308.00M	85.10M	89.00M	87.70M	115.40M	134.00M	504.00M	593.30M	525.80M	426.90M	322.30M	236.60M	201.10M	107.20M	83.30M	52.80M	29.30M	29.00M	33.90M	26.20M	25.60M	22.50M	20.30M	18.90M	17.60M	16.80M	14.40M	13.50M	14.10M	16.00M	14.60M	15.00M	20.30M	2.70M	17.20M	18.10M
EBITDA	1.86B	3.11B	5.04B	310.00M	498.40M	776.00M	477.90M	288.00M	675.60M	-8.91B	1.26B	219.60M	2.88B	1.69B	565.50M	957.20M	485.60M	445.00M	395.00M	154.30M	-8.00M	21.40M	12.60M	56.60M	41.70M	97.40M	103.00M	111.20M	106.00M	87.50M	101.40M	67.10M	58.40M	44.80M	107.70M	92.30M	15.10M	-34.20M	38.50M
EBITDA Ratio	8.45%	13.85%	25.17%	5.85%	25.96%	33.42%	22.42%	16.91%	14.21%	11.64%	26.64%	21.62%	40.77%	28.10%	10.29%	26.74%	19.64%	21.69%	20.87%	-25.63%	5.00%	22.54%	-33.44%	15.11%	18.46%	20.72%	17.84%	20.81%	25.42%	24.81%	30.06%	23.72%	8.48%	-12.17%	29.24%	22.20%	-9.25%	-13.87%	9.01%
Operating Income	677.00M	1.94B	4.01B	5.00M	429.30M	673.20M	431.50M	240.80M	151.30M	-9.43B	671.00M	-308.80M	2.33B	1.27B	230.20M	938.90M	378.40M	361.70M	342.20M	-29.10M	-2.40M	-7.90M	-92.40M	31.20M	26.30M	77.10M	67.30M	93.60M	89.20M	73.10M	87.90M	53.00M	42.40M	30.20M	92.70M	72.00M	12.40M	-51.40M	20.40M
Operating Income Ratio	3.08%	8.43%	19.62%	0.09%	21.57%	28.86%	18.52%	11.42%	7.52%	-203.86%	11.79%	-5.26%	34.35%	27.02%	9.83%	26.01%	16.63%	18.82%	19.67%	-2.41%	-0.28%	-1.32%	-27.97%	7.25%	7.28%	15.61%	15.33%	18.60%	19.36%	18.80%	24.70%	17.06%	13.36%	9.75%	26.45%	18.31%	3.41%	-19.27%	6.25%
Total Other Income/Expenses	-80.00M	-143.00M	-209.00M	-51.00M	-117.20M	-108.30M	-282.00M	76.30M	161.80M	-9.71B	-891.00M	-193.00M	-92.20M	65.40M	60.40M	-312.70M	2.30M	26.10M	25.90M	167.20M	1.80M	-44.80M	-17.90M	-1.30M	-14.50M	-5.30M	5.30M	1.90M	-17.60M	-15.60M	-12.20M	-11.60M	27.70M	76.40M	-5.80M	-7.70M	36.50M	-4.50M	1.60M
Income Before Tax	597.00M	1.80B	3.80B	-193.00M	312.10M	564.70M	137.30M	207.00M	313.10M	-9.58B	489.30M	-501.80M	2.24B	1.30B	290.60M	716.30M	380.70M	387.80M	368.10M	285.60M	-35.20M	-57.30M	-53.60M	16.60M	4.70M	71.80M	72.60M	95.50M	71.60M	57.50M	75.70M	41.40M	70.10M	106.60M	86.90M	64.30M	48.90M	-55.90M	22.00M
Income Before Tax Ratio	2.71%	7.81%	18.60%	-3.60%	15.68%	24.21%	5.89%	9.82%	15.55%	-207.29%	8.60%	-8.54%	32.99%	27.73%	12.41%	19.85%	16.73%	20.18%	21.16%	23.67%	-4.10%	-9.57%	-16.22%	3.86%	1.30%	14.54%	16.54%	18.98%	15.54%	14.79%	21.27%	13.32%	22.09%	34.40%	24.79%	16.35%	13.46%	-20.95%	6.74%
Income Tax Expense	148.00M	423.00M	773.00M	-111.00M	17.60M	-475.20M	-252.40M	-12.20M	169.30M	-1.32B	55.10M	255.90M	420.10M	292.00M	20.80M	144.20M	84.10M	90.90M	84.80M	-34.90M	-300.00K	9.10M	-16.30M	-1.50M	-100.00K	14.40M	17.70M	34.50M	10.70M	14.70M	21.10M	10.60M	16.30M	32.80M	24.40M	19.60M	18.30M	-14.20M	1.90M
Net Income	399.00M	1.34B	2.99B	-82.00M	292.80M	1.13B	374.90M	174.10M	-749.30M	-7.19B	413.50M	-899.40M	1.62B	1.02B	205.10M	515.80M	270.00M	280.10M	277.60M	323.60M	-32.70M	-188.30M	-22.90M	18.10M	4.80M	57.40M	54.90M	61.00M	57.80M	42.80M	54.60M	-7.90M	53.80M	73.80M	60.60M	39.20M	12.70M	-41.70M	20.10M
Net Income Ratio	1.81%	5.81%	14.62%	-1.53%	14.71%	48.37%	16.09%	8.26%	-37.22%	-155.48%	7.27%	-15.31%	23.83%	21.78%	8.76%	14.29%	11.87%	14.58%	15.96%	26.82%	-3.81%	-31.46%	-6.93%	4.21%	1.33%	11.62%	12.51%	12.12%	12.55%	11.01%	15.34%	-2.54%	16.95%	23.81%	17.29%	9.97%	3.50%	-15.63%	6.16%
EPS	0.78	2.57	6.00	-0.22	1.06	3.80	1.30	0.88	-4.89	-46.96	2.40	-6.32	11.55	7.54	1.64	5.07	3.19	3.27	3.13	3.74	-0.40	-2.33	-0.29	0.22	0.05	0.64	0.60	0.66	0.61	0.44	0.57	-0.08	0.57	0.79	0.65	0.36	0.07	-0.42	0.18
EPS Diluted	0.78	2.55	5.35	-0.22	1.03	3.71	1.28	0.87	-4.88	-46.96	2.37	-6.32	11.48	7.49	1.63	4.76	2.57	2.60	2.50	2.95	-0.40	-2.33	-0.29	0.22	0.05	0.63	0.60	0.65	0.60	0.44	0.57	-0.08	0.56	0.78	0.64	0.35	0.07	-0.42	0.18
Weighted Avg Shares Out	510.00M	519.00M	498.00M	379.00M	276.76M	297.18M	288.44M	197.66M	153.23M	153.10M	151.73M	142.35M	140.23M	135.30M	125.00M	101.50M	82.99M	84.14M	86.91M	85.23M	82.05M	80.99M	80.35M	83.22M	88.80M	89.60M	91.20M	92.78M	95.54M	96.72M	96.00M	95.70M	94.59M	93.57M	93.23M	105.45M	108.07M	99.36M	100.82M
Weighted Avg Shares Out (Dil)	511.00M	524.00M	558.00M	379.00M	284.48M	304.14M	292.96M	200.15M	153.61M	153.10M	174.32M	142.35M	141.01M	136.14M	125.80M	108.30M	105.03M	107.65M	111.35M	109.68M	82.05M	80.99M	80.35M	84.19M	88.80M	90.40M	92.00M	93.31M	95.93M	96.72M	96.42M	95.70M	95.43M	94.31M	94.14M	106.95M	108.07M	99.36M	100.82M

How Will A Cooling U.S. Economy Impact Cleveland-Cliffs Q2 Earnings?

July 11, 2024forbes.com

Cleveland-Cliffs, a vertically integrated steel mill operator, is poised to report its Q2 2024 results around July 23. We expect revenue to come in at $5.4 billion, marking a decline of about 12% compared to the last year, and slightly...

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July 10, 2024zacks.com

In the latest trading session, Cleveland-Cliffs (CLF) closed at $15.40, marking a +1.45% move from the previous day.

Cleveland-Cliffs Q2 2024 Earnings: Short-Term Tailwinds, But Not A Buy Yet

July 9, 2024seekingalpha.com

Cleveland-Cliffs is scheduled to report its second quarter earnings later this month and investors' focus is shifting away from capital allocation. Profitability and costs will be in the spotlight, as gross margins seem to have bottomed already. Although there are...

Cleveland-Cliffs (CLF) Stock Sinks As Market Gains: Here's Why

July 8, 2024zacks.com

Cleveland-Cliffs (CLF) reachead $15.47 at the closing of the latest trading day, reflecting a -1.09% change compared to its last close.

Cleveland-Cliffs: Buy The Dip, Challenges Are Likely Temporary

July 1, 2024seekingalpha.com

Despite recent underperformance, CLF remains undervalued with potential for margin expansion and growth in the steel industry. Analysts' concerns and downgrades may pose risks, but CLF's undervaluation and growth prospects make it a strong 'Buy' in the medium term. I...

Cleveland-Cliffs to Announce Second-Quarter 2024 Earnings Results on July 22 and Host Conference Call on July 23

July 1, 2024businesswire.com

CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) will announce its second-quarter 2024 earnings results after the U.S. market close on Monday, July 22, 2024. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts...

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Buying the dip is a strategy often associated with buy-and-hold investors. However, it's also a good strategy for traders.

Cleveland-Cliffs Posts Press Conference and Q&A with U.S. Senator Sherrod Brown and USW International President David McCall on Website

June 26, 2024businesswire.com

CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) today hosted U.S. Senator Sherrod Brown (OH) and leadership from the United Steelworkers, David McCall, USW International President and Donnie Blatt, Director of USW District 1, at its Cleveland Works plant in Ohio for a...