Cleveland-Cliffs Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 29, 2024 at 04:05 pm EST
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Cleveland-Cliffs Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 5,112 million compared to USD 5,044 million a year ago. Net loss was USD 155 million compared to USD 214 million a year ago. Basic loss per share from continuing operations was USD 0.31 compared to USD 0.41 a year ago. Diluted loss per share from continuing operations was USD 0.31 compared to USD 0.41 a year ago. Basic loss per share was USD 0.31 compared to USD 0.41 a year ago. Diluted loss per share was USD 0.31 compared to USD 0.41 a year ago.
For the full year, the company reported sales was USD 21,996 million compared to USD 22,989 million a year ago. Net income was USD 399 million compared to USD 1,335 million a year ago. Basic earnings per share from continuing operations was USD 0.78 compared to USD 2.57 a year ago. Diluted earnings per share from continuing operations was USD 0.78 compared to USD 2.55 a year ago. Basic earnings per share was USD 0.78 compared to USD 2.57 a year ago. Diluted earnings per share was USD 0.78 compared to USD 2.55 a year ago.
Cleveland-Cliffs Inc. is a flat-rolled steel producer and engaged in manufacturing iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. It offers advanced high-strength steels (AHSS), hot-dipped galvanized, aluminized, galvalume, electrogalvanized, galvanneal, hot-rolled coil (HRC), cold-rolled coil, plate, tinplate, grain oriented electrical steel (GOES), non-oriented electrical steel (NOES), stainless steels, tool and die, stamped components, rail, slab and cast ingot. Its tubular components and tooling and stamping segments provide carbon and stainless steel tubing products, advanced-engineered solutions, tool design and build, hot and cold stamped steel components and complex assemblies. It serves various markets, such as automotive, infrastructure and manufacturing, steel producers, and distributors and converters.
CLEVELAND-CLIFFS INC. 
