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Monday, May 11, 2020

=Cleveland-Cliffs (CLF) reported earnings on Mon 11 May 20 (b/o)

Cleveland-Cliffs (CLF) came out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of a loss of $0.18 per share. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 122.22%. A quarter ago, it was expected that this mining company would post earnings of $0.24 per share when it actually produced earnings of $0.25, delivering a surprise of 4.17%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Cleveland-Cliffs, which belongs to the Zacks Mining - Miscellaneous industry, posted revenues of $359.10 million for the quarter ended March 2020, missing the Zacks Consensus Estimate by 2.37%. This compares to year-ago revenues of $157 million. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Cleveland-Cliffs shares have lost about 42.6% since the beginning of the year versus the S&P 500's decline of -9.3%.

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