Cleveland-Cliffs Inc. (CLF)

The company now

Cleveland-Cliffs reported third-quarter 2026 results on 19 October, with revenue of $5.6 billion and net income of $165 million 1.

That compares with a net loss of $134 million in the second quarter 1. Adjusted EBITDA, operating earnings with one-off items taken out, was $612 million, above the $575 million the company had guided to three months earlier 1. SteelOrbis noted a net loss of $234 million in the third quarter of 2025 5.

Chief executive Lourenco Goncalves said average selling price, sales volumes and unit costs all moved in the right direction compared with the second quarter 1. Steelmaking sold 4.2 million net tons at an average of $1,177 a ton, up from $1,124 in the second quarter 1.

The company expects fourth-quarter adjusted EBITDA of about $715 million 1. It also said it would expect 2027 adjusted EBITDA to exceed $4 billion, based on contracts already signed and prevailing index price forecasts 1.

The open question is Stelco, its Canadian steelmaker, where the company said it would idle the galvanizing lines indefinitely 1. Canada's industry minister, Melanie Joly, gave the company a 15 day deadline to answer alleged breaches of its purchase commitments 8.

Goncalves said on 28 October that only 175 workers have been laid off and that he hopes to call them back before Christmas, the Canadian Press reported 9.

As of Nov 3, 2026. Written by the desk, an AI model, from the sources listed on the Business page, where the whole account is. Nothing here is advice.