HomeBusinessMaterialsCleveland-Cliffs (CLF) Mines A Mixed Earnings
Cleveland-Cliffs (CLF) Mines A Mixed Earnings

Cleveland-Cliffs (CLF) is today’s Under 30-stock. In this segment Jenny Horne and Ben Lichtenstein discuss the company’s mixed earnings results. Cleveland-Cliffs reported second-quarter revenue of $6.34 billion, which beat the estimate of $6.15 billion. The company reported quarterly adjusted earnings of $1.31 per share, which missed the estimate of $1.32 per share but it more than doubled its free cash flow compared to the first quarter. Jenny and Ben talk about CLF’s move lower with George Tsillis who points out that because Cleveland-Cliffs (CLF) is a metal mining and production company, its overall performance is affected by the construction and automotive space. Cleveland Cliffs (CLF) was trading down ~9% on Friday ~$15.60/share.

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