From The Motley Fool · Howard Smith · · 40s
Cleveland-Cliffs Stock Rises on Strong Earnings
Cleveland-Cliffs stock jumps 15.6% after reporting strong earnings and improved outlook.
In brief
Cleveland-Cliffs stock jumps 15.6% after reporting strong earnings and improved outlook. Cleveland-Cliffs stock surged 15.6% following a report of double adjusted EBITDA since last quarter and a positive 2027 outlook. Originally reported by The Motley Fool.
Cleveland-Cliffs Stock Rises
Cleveland-Cliffs stock surged 15.6% after reporting strong earnings and improved outlook.
Strong Earnings Report
The company reported adjusted earnings of $0.28 per share, topping estimates of $0.21, with adjusted EBITDA at $612 million.
Positive 2027 Outlook
CEO Lourenco Goncalves stated the trade environment supports a healthy American steel industry with improved outlook for 2027.
“The trade environment continues to support a healthy American steel industry. Imports remain well below historical levels, lead times are extended, and our customers increasingly recognize the value of a reliable domestic supply chain.”
The main idea
Cleveland-Cliffs stock surged 15.6% following a report of double adjusted EBITDA since last quarter and a positive 2027 outlook.
