Yahoo Finance Cleveland-Cliffs First Quarter 2024 Earnings: Misses Expectations
Cleveland-Cliffs (NYSE:CLF) First Quarter 2024 Results
Key Financial Results
Revenue: US$5.20b (down 1.8% from 1Q 2023).
Net loss: US$67.0m (loss widened by 16% from 1Q 2023).
US$0.14 loss per share (further deteriorated from US$0.11 loss in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Cleveland-Cliffs Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) was also behind analyst expectations.
Looking ahead, revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the US are expected to grow by 4.8%.
Performance of the American Metals and Mining industry.
The company's shares are down 13% from a week ago.
Risk Analysis
It is worth noting though that we have found 2 warning signs for Cleveland-Cliffs that you need to take into consideration.
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