Cleveland-Cliffs Inc. (NYSE:CLF) shares were trading lower Monday after the company reported mixed first-quarter fiscal 2026 results.
Earnings Snapshot
The Cleveland-based steelmaker reported adjusted losses of 40 cents per share, missing the analyst consensus loss estimate of 39 cents. Revenue came in at $4.92 billion, topping the analyst consensus estimate of $4.78 billion.
Steel product sales volumes stood at 4.1 million net tons, roughly flat compared with the same period a year earlier. Steelmaking revenues reached $4.8 billion, up slightly from $4.5 billion in the year-ago quarter.
Adjusted earnings before interest, taxes, depreciation, and amortization came in at $95 million, compared with a loss of $179 million in the prior-year quarter. The first-quarter figure includes an $80 million one‑time energy cost impact driven by extreme cold weather.
As of March 31, the company reported total liquidity of $3.1 billion.
Management Commentary
Chairman, President and Chief Executive Officer Lourenco Goncalves said first-quarter results reflected short-term headwinds including energy prices and price …