NYSE$CLF

Cleveland-Cliffs Inc · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

CLF reported Q4 2025, revenue of $4.30B, net loss of $235M.

For Q4 2025, CLF reported revenue of $4.30B, a net loss of $235M. Management discusses segment performance, capital allocation, and macro risks in the quarterly filing.

  • Revenue $4.30B.
  • Net loss $235M.
  • CLF MD&A covers liquidity, operations, and outlook.

Headline financials

Total Revenue

$4.3B

Previous: $4.33B-0.6%
EPS (adj)

-$0.43

Previous: -$0.68+36.8%
Adjusted EBITDA

-$21M

Previous: -$81M+74.1%
Steel Shipments

3.8M

Previous: 3.8M-0.7%
Avg Selling Price

$993.00

Previous: $976.00+1.7%
Net Income

-$235M

Previous: -$434M+45.9%
Operating Income

-$331M

Previous: -$465M+28.8%
Gross Profit

-$220M

Previous: -$281M+21.7%

Revenue & EPS history

Cleveland-Cliffs · Revenue · Quarterly

$4.3B

Q4 2025-0.6%vs Q4 2024
Beat estimate in 5 of 15 quarters(33%)
ActualEstimate

Revenue by segment

Cleveland-Cliffs · $5.87B total across 1 segment · Q3 2021

  • Steelmaking
    $5.87B

Forward guidance

The quarterly filing discusses operating priorities, capital returns, and sector risks; numeric multi-quarter bridges vary by issuer.

Tailwinds

  • MD&A highlights liquidity, capital, and core business trends.
  • Segment or product commentary supports the earnings narrative.

Headwinds

  • Macro, rates, or input costs may pressure near-term margins.
  • One-time items can affect year-over-year comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

+0.8%

Avg return

Earnings day

-1.8%

Avg return

5 days after

-2.5%

Avg return

30 days after

55%

40 / 73 earnings

Positive

+23.1%

Q2 2018

Best reaction

-21.1%

Q4 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.6%+0.3%+10.0%
Q4 2025-16.4%-29.5%-37.0%
Q3 2025+21.4%-1.4%-15.5%
Q2 2025-0.7%-1.9%+9.9%
Q1 2025-15.9%-10.7%-10.5%
Q4 2024-3.2%-2.8%-16.3%
Q3 2024-12.5%-3.0%-6.3%
Q2 2024+4.7%+2.0%-15.4%
Q1 2024-10.9%-14.1%-17.6%
Q4 2023+9.3%+10.4%+10.2%
Q3 2023+7.3%+9.9%+15.5%
Q2 2023+9.9%+7.0%-5.1%
Q1 2023-3.8%-3.1%-10.6%
Q4 2022+2.4%-0.6%-11.4%
Q3 2022-5.0%-13.4%+2.4%
Q2 2022-3.4%-2.9%+3.8%
Q1 2022-6.2%-7.2%-26.3%
Q4 2021-11.8%-5.2%+23.4%
Q3 2021+20.1%+17.2%+3.7%
Q2 2021+1.9%+5.1%+8.5%
Q1 2021+5.5%+9.6%+5.9%
Q4 2020-21.1%-13.1%-2.0%
Q3 2020+3.0%-3.5%+11.6%
Q2 2020-10.8%-5.9%+11.5%
Q1 2020-8.9%-14.9%+36.7%
Q4 2019-6.7%-15.0%-58.0%
Q3 2019+0.1%+3.6%+11.2%
Q2 2019+3.1%+0.6%-24.9%
Q1 2019+6.1%+5.0%-2.1%
Q4 2018+6.9%+5.2%-10.3%
Q3 2018-1.2%-11.2%-10.3%
Q2 2018+23.1%+22.2%+11.5%
Q1 2018+1.0%+4.0%+19.7%
Q4 2017-8.6%-11.0%-10.3%
Q3 2017-8.3%-8.2%-17.6%
Q2 2017-8.2%-3.6%+1.2%
Q1 2017-6.5%-7.8%-14.6%
Q4 2016+17.1%+26.4%-8.2%
Q3 2016-12.4%-12.1%+59.8%
Q2 2016+0.8%+1.4%-26.5%
Q1 2016+22.3%
Q4 2015+4.6%
Q3 2015+4.5%
Q2 2015-10.8%
Q1 2015-11.7%
Q4 2014+5.9%
Q3 2014+17.2%
Q2 2014-0.8%
Q1 2014-1.6%
Q4 2013+5.3%
Q3 2013+6.7%
Q2 2013+7.7%
Q1 2013+21.0%
Q4 2012-19.6%
Q3 2012-12.3%
Q2 2012-9.6%
Q1 2012-4.3%
Q4 2011-2.9%
Q3 2011+2.5%
Q2 2011-4.0%
Q1 2011-0.2%
Q1 2009+3.9%
Q4 2010+3.9%
Q3 2010+4.7%
Q2 2010+4.5%
Q1 2010+1.5%
Q4 2007+13.1%
Q4 2009+13.1%
Q3 2009+1.7%
Q3 2008+1.7%
Q2 2008+10.2%
Q2 2009+10.2%
Q4 2008+10.2%

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