Cleveland-Cliffs Inc. (CLF)
NYSE: CLF · Real-Time Price · USD
11.93
+0.97 (8.85%)
At close: Jul 24, 2026, 4:00 PM EDT
11.99
+0.06 (0.48%)
After-hours: Jul 24, 2026, 7:59 PM EDT
Cleveland-Cliffs Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
| 5,226 | 4,922 | 4,313 | 4,734 | 4,934 | 4,629 | 4,325 | 4,569 | 5,092 | 5,199 | 5,112 | 5,605 | 5,984 | 5,295 | 5,044 | 5,653 | 6,337 | 5,955 | 5,346 | 6,004 | |
Revenue Growth (YoY) | 5.92% | 6.33% | -0.28% | 3.61% | -3.10% | -10.96% | -15.39% | -18.48% | -14.91% | -1.81% | 1.35% | -0.85% | -5.57% | -11.08% | -5.65% | -5.85% | 25.61% | 47.07% | 136.97% | 264.76% |
Cost of Revenue | 5,094 | 5,004 | 4,519 | 4,780 | 5,146 | 5,025 | 4,598 | 4,675 | 4,930 | 4,914 | 4,962 | 5,125 | 5,340 | 5,196 | 5,104 | 5,305 | 5,356 | 4,706 | 4,072 | 4,229 |
Gross Profit | 132 | -82 | -206 | -46 | -212 | -396 | -273 | -106 | 162 | 285 | 150 | 480 | 644 | 99 | -60 | 348 | 981 | 1,249 | 1,274 | 1,775 |
Selling, General & Admin | 154 | 125 | 144 | 130 | 137 | 133 | 139 | 112 | 103 | 132 | 162 | 139 | 149 | 127 | 112 | 124 | 107 | 122 | 93 | 116 |
Other Operating Expenses | 27 | 6 | -19 | 28 | 152 | 14 | 53 | 43 | 53 | 191 | -19 | 16 | 12 | 3 | 6 | 37 | 34 | 33 | 42 | 10 |
Total Operating Expenses | 181 | 131 | 125 | 158 | 289 | 147 | 192 | 155 | 156 | 323 | 143 | 155 | 161 | 130 | 118 | 161 | 141 | 155 | 135 | 126 |
Operating Income | -49 | -213 | -331 | -204 | -501 | -543 | -465 | -261 | 6 | -38 | -118 | 325 | 483 | -31 | -182 | 187 | 840 | 1,094 | 1,119 | 1,649 |
Interest Expense | -156 | -148 | -152 | -153 | -149 | -140 | -135 | -102 | -69 | -64 | -63 | -70 | -79 | -77 | -71 | -64 | -64 | -77 | -79 | -81 |
Other Non-Operating Income (Expense) | 51 | 54 | 44 | 48 | 27 | 48 | -11 | 57 | 57 | 41 | 55 | 48 | 54 | 52 | 67 | 52 | -19 | 33 | 72 | 47 |
Total Non-Operating Income (Expense) | -105 | -94 | -108 | -105 | -122 | -92 | -146 | -45 | -12 | -23 | -8 | -22 | -25 | -25 | -4 | -12 | -83 | -44 | -7 | -34 |
Pretax Income | -152 | -307 | -439 | -309 | -621 | -635 | -570 | -308 | -6 | -61 | -108 | 303 | 458 | -56 | -186 | 175 | 757 | 1,050 | 1,112 | 1,615 |
Provision for Income Taxes | -20 | -81 | -206 | -78 | -148 | -149 | -136 | -76 | -15 | -8 | 26 | 29 | 102 | -13 | 19 | 10 | 157 | 237 | 214 | 334 |
Net Income | -132 | -226 | -235 | -231 | -473 | -486 | -434 | -232 | 9 | -53 | -138 | 274 | 356 | -43 | -205 | 165 | 600 | 813 | 898 | 1,281 |
Minority Interest in Earnings | 11 | 8 | 8 | 17 | 13 | 12 | 13 | 12 | 7 | 14 | 16 | 11 | 9 | 15 | 10 | 13 | 5 | 13 | 6 | 8 |
Earnings From Discontinued Operations | -2 | -3 | - | -3 | - | - | - | - | - | - | -1 | 1 | - | 1 | 1 | - | 1 | 1 | 1 | 1 |
Net Income to Common | -145 | -237 | -243 | -251 | -486 | -498 | -447 | -244 | 2 | -67 | -155 | 264 | 347 | -57 | -214 | 152 | 596 | 801 | 893 | 1,274 |
Net Income Growth | - | - | - | - | - | - | - | - | -99.42% | - | - | 73.68% | -41.78% | - | - | -88.07% | -23.59% | 1853.66% | 1295.31% | - |
Shares Outstanding (Basic) | 571 | 570 | 547 | 495 | 495 | 495 | 486 | 468 | 473 | 492 | 504 | 508 | 513 | 515 | 516 | 516 | 523 | 521 | 501 | 500 |
Shares Outstanding (Diluted) | 571 | 570 | 547 | 495 | 495 | 495 | 486 | 468 | 474 | 492 | 505 | 509 | 514 | 515 | 518 | 519 | 526 | 532 | 531 | 547 |
Shares Change (YoY) | 15.35% | 15.15% | 12.55% | 5.77% | 4.43% | 0.61% | -3.76% | -8.05% | -7.78% | -4.47% | -2.51% | -1.93% | -2.28% | -3.19% | -2.45% | -5.12% | -10.08% | -6.83% | 26.13% | 37.09% |
EPS (Basic) | -0.25 | -0.42 | -0.44 | -0.51 | -0.98 | -1.01 | -0.92 | -0.52 | - | -0.14 | -0.31 | 0.52 | 0.68 | -0.11 | -0.41 | 0.30 | 1.14 | 1.54 | 1.78 | 2.46 |
EPS (Diluted) | -0.25 | -0.42 | -0.44 | -0.51 | -0.98 | -1.01 | -0.92 | -0.52 | - | -0.14 | -0.31 | 0.52 | 0.67 | -0.11 | -0.41 | 0.29 | 1.13 | 1.50 | 1.69 | 2.33 |
EPS Growth | - | - | - | - | - | - | - | - | - | - | - | 79.31% | -40.71% | - | - | -87.55% | -15.04% | 2042.86% | 1107.14% | - |
Free Cash Flow | 73 | -477 | -153 | -300 | -67 | -503 | -677 | -235 | 362 | -40 | 487 | 605 | 756 | -227 | 262 | 288 | 633 | 297 | 905 | 1,341 |
Free Cash Flow Growth | - | - | - | - | - | - | - | - | -52.12% | - | 85.88% | 110.07% | 19.43% | - | -71.05% | -78.52% | 81.38% | - | - | 794.00% |
Free Cash Flow Per Share | 0.13 | -0.84 | -0.28 | -0.61 | -0.14 | -1.02 | -1.39 | -0.50 | 0.76 | -0.08 | 0.96 | 1.19 | 1.47 | -0.44 | 0.51 | 0.55 | 1.20 | 0.56 | 1.70 | 2.45 |
Gross Margin | 2.53% | -1.67% | -4.78% | -0.97% | -4.30% | -8.55% | -6.31% | -2.32% | 3.18% | 5.48% | 2.93% | 8.56% | 10.76% | 1.87% | -1.19% | 6.16% | 15.48% | 20.97% | 23.83% | 29.56% |
Operating Margin | -0.94% | -4.33% | -7.67% | -4.31% | -10.15% | -11.73% | -10.75% | -5.71% | 0.12% | -0.73% | -2.31% | 5.80% | 8.07% | -0.59% | -3.61% | 3.31% | 13.26% | 18.37% | 20.93% | 27.46% |
Profit Margin | -2.53% | -4.59% | -5.45% | -4.88% | -9.59% | -10.50% | -10.03% | -5.08% | 0.18% | -1.02% | -2.70% | 4.89% | 5.95% | -0.81% | -4.06% | 2.92% | 9.47% | 13.65% | 16.80% | 21.34% |
FCF Margin | 1.40% | -9.69% | -3.55% | -6.34% | -1.36% | -10.87% | -15.65% | -5.14% | 7.11% | -0.77% | 9.53% | 10.79% | 12.63% | -4.29% | 5.19% | 5.09% | 9.99% | 4.99% | 16.93% | 22.34% |
EBITDA | 213 | 46 | -59 | 84 | -108 | -261 | -207 | -26 | 234 | 192 | 117 | 574 | 730 | 211 | 64 | 424 | 1,090 | 1,395 | 1,352 | 1,888 |
EBITDA Margin | 4.08% | 0.93% | -1.37% | 1.77% | -2.19% | -5.64% | -4.79% | -0.57% | 4.60% | 3.69% | 2.29% | 10.24% | 12.20% | 3.98% | 1.27% | 7.50% | 17.20% | 23.43% | 25.29% | 31.45% |
EBIT | -49 | -213 | -331 | -204 | -501 | -543 | -465 | -261 | 6 | -38 | -118 | 325 | 483 | -31 | -182 | 187 | 840 | 1,094 | 1,119 | 1,649 |
EBIT Margin | -0.94% | -4.33% | -7.67% | -4.31% | -10.15% | -11.73% | -10.75% | -5.71% | 0.12% | -0.73% | -2.31% | 5.80% | 8.07% | -0.59% | -3.61% | 3.31% | 13.26% | 18.37% | 20.93% | 27.46% |
Effective Tax Rate | 13.16% | 26.38% | 46.92% | 25.24% | 23.83% | 23.46% | 23.86% | 24.68% | 250.00% | 13.11% | -24.07% | 9.57% | 22.27% | 23.21% | -10.22% | 5.71% | 20.74% | 22.57% | 19.24% | 20.68% |