Cleveland-Cliffs: Q2 Earnings Snapshot

CLEVELAND (AP) _ Cleveland-Cliffs Inc. (CLF) on Thursday reported second-quarter net income of $780 million, after reporting a loss in the same period a year earlier.

The Cleveland-based company said it had net income of $1.33 per share. Earnings, adjusted for one-time gains and costs, came to $1.46 per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.

The mining company posted revenue of $5.05 billion in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $4.9 billion.

Cleveland-Cliffs shares have risen 45% since the beginning of the year. The stock has more than tripled in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on CLF at