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Cleveland-Cliffs (CLF) earnings

CLEVELAND-CLIFFS INC.· Materials

Results to
Sep 2026
Latest analysed call
Sep 2026 (Q3 FY26)
Balance sheet to
Dec 2025

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Cleveland-Cliffs earnings: last reported Mon, 19 Oct 2026, for the quarter ended Sep 2026.

Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue5,612 $ million+18.5% YoYQuarterly, as filedQuarter to Sep 2026Revenue from operations as filed.
Operating margin5.5 %+9.8 pts YoYOperating profit / revenueQuarter to Sep 2026For the quarter; a change is in percentage points.
Net profit152 $ million—Quarterly, as filedQuarter to Sep 2026Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown.

Source: Inve data from filed results (SEC filings) · to Sep 2026

Guidance

What management said, and what became of it

9 of 20 judged targets kept · 27 open · verdicts reflect calls analysed to Sep 2026.

CLEVELAND-CLIFFS INC. management guidance track record on Inve: 47 targets tracked across analysed earnings calls (9 achieved, 11 missed, 27 open).

TargetOriginal wordingSaidLatest callVerdict
Adjusted EBITDAapproximately $575 millionJun 2026Sep 2026:Our Q3 adjusted EBITDA was $612 million, more than double the $286 million we generated in Q2.
Call transcript, Sep 2026 · no direct link		Achieved
Average Selling Priceincrease another $55 per tonJun 2026Sep 2026:Average net selling price during the quarter was $1,177 per ton, an increase of $53 per ton sequentially, as we benefited from rising market pricing in both the U.S. and Canada.
Call transcript, Sep 2026 · no direct link		Missed
Adjusted EBITDAoutperform the third quarterJun 2026Sep 2026:Even with the typical seasonality and maintenance outages common in all fourth quarters, we expect our Q4 adjusted EBITDA performance to exceed our Q3 performance by approximately $100 million, with an expectation of $715 million in adjusted EBITDA.
Call transcript, Sep 2026 · no direct link		Revised Up

Source: Inve Guidance Tracker for CLEVELAND-CLIFFS INC. · to Sep 2026

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

11 of CLEVELAND-CLIFFS INC.'s 47 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 44 more targets are in the full ledger.

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Price

$13.9 +6.51% · +$0.85

Last close Oct 23, 2026 · US · USD · Source: Inve

Performance +6.9% 1Y

$8.0$10.0$12.0$14.0Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Mar 2026 (Q1 FY26) — 20 Apr 2026Jun 2026 (Q2 FY26) — 23 Jul 2026Sep 2026 (Q3 FY26) — 19 Oct 2026

1Y: $13 on 22 Oct 2025 → $13.9. High $15.09 (23 Jan 2026), low $7.82 (20 Mar 2026).

Previous close
$13.05
52-week range
$7.82 – $15.09
One year
+6.43%

Overview

Symbol
CLF
Sector
Materials
Exchange
US
Currency
USD

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