From Yahoo Finance: 2025-05-08 11:05:00

Cleveland-Cliffs reported $1 a share in GAAP losses, worse than expected. Management is cutting costs to return to profitability, but President Trump’s tariffs aren’t helping. The stock tumbled 16.2% after losing $0.92 per share, with operating revenue at $4.5 billion, below Wall Street’s $4.6 billion target. Consolidated revenue rose sequentially to $4.6 billion, but fell 11.5% year over year. The quarterly loss was $1 per share, six times worse than last year. The company is idling plants to save $300 million annually and reduce steel production costs by $50 per ton. Earnings guidance remains uncertain, with the stock currently unprofitable.



Read more at Yahoo Finance: Why Cleveland-Cliffs Stock Plunged After Earnings