Cleveland-Cliffs Inc.

Cleveland-Cliffs Inc. today reported fourth-quarter and full-year results for the period ended December 31, 2018. Fourth-quarter 2018 consolidated revenues were $696 million, compared to prior-year fourth-quarter revenues of $512 million. Cost of goods sold and operating expenses were $494 million, compared to $396 million reported in the fourth quarter of 2017. For the fourth quarter of 2018, the Company recorded net [...]

Cleveland-Cliffs Inc. announced today that it has appointed M. Ann Harlan and Janet L. Miller to its Board of Directors, effective immediately. Ms. Harlan was formerly Vice President, General Counsel and Secretary at The JM Smucker Company, a fortune 500 food manufacturing and marketing company. She currently serves on the Board of Gorman Rupp Company, also a company listed on the New York Stock Exchange, where she has [...]

Cleveland-Cliffs Inc. today said it will be announcing fourth-quarter and full-year 2018 financial results before the U.S.-market open on Friday, February 8, 2019. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results. When: Friday, February 8, 2019, at 9 a.m. ET Hosts: Lourenco Goncalves, Chairman, President [...]

Cleveland-Cliffs Inc. announced today that it has named its current Executive Vice President, Business Development, Clifford T. Smith, as the Company’s Executive Vice President, Chief Operating Officer, effective January 1, 2019. In his new role, Mr. Smith will have oversight for the Company’s operations, commercial sales and business development. This press release features multimedia. View the full release [...]

Cleveland-Cliffs Inc. today announced that its Board of Directors has authorized the Company to buy back its outstanding common shares. Under the share repurchase program, the Company will have ample flexibility to buy up to a maximum of $200 million worth of shares, via acquisitions in the open market or privately negotiated transactions, including through accelerated share repurchases or pursuant to the terms of a Rule [...]

Cleveland-Cliffs Inc. today said it will be webcasting the fireside chat with Lourenco Goncalves at the Goldman Sachs Global Metals & Mining Conference in New York. The Company invites interested parties to listen to a live broadcast of the presentation. When: Wednesday, November 28, 2018, at 1:45 p.m. ET Presenter: Lourenco Goncalves, Chairman, President and Chief Executive Officer Web Address: www.clevelandcliffs.com If [...]

Cleveland-Cliffs Inc. today reported third-quarter results for the period ended September 30, 2018. The Company reported consolidated revenues of $742 million, compared to the prior year's third-quarter consolidated revenues of $597 million. Cost of goods sold was $480 million compared to $439 million reported in the third quarter of 2017. Net income was $438 million, or $1.41 per diluted share, compared to $53 million [...]

Cleveland-Cliffs Inc. announced today that its employees represented by the United Steelworkers at its Tilden and Empire mines in Michigan, and its United Taconite and Hibbing Taconite mines in Minnesota ratified a new 4-year labor contract. The new contract is retroactively effective from October 1, 2018 through September 30, 2022. The new contract covers approximately 1,800 USW-represented workers at Cliffs&rsquo [...]

Cleveland-Cliffs Inc. announced today that, as of the close of business on October 5, 2018, it has redeemed in full, as set forth in notices of redemption issued on September 5, 2018, all of its outstanding 5.90% senior notes due March 2020 and 4.80% senior notes due October 2020. The aggregate principal amount outstanding of debt redeemed was approximately $211 million. These redemptions decrease annualized interest [...]

Cleveland-Cliffs Inc. and the United Steelworkers announced jointly today a tentative agreement for a new 4-year labor contract that is effective as of October 1, 2018. The new contract will cover approximately 1,800 USW-represented workers at Cliffs’ Tilden and Empire mines in Michigan, and its United Taconite and Hibbing Taconite mines in Minnesota. Lourenco Goncalves, Chairman, President and CEO, stated [...]