Cleveland-Cliffs Reports Q3 2024 Earnings with Adjusted EBITDA of $124 Million
Cleveland-Cliffs (CLF) reported Q3 2024 earnings with adjusted EBITDA of $124 million, impacted by weaker steel demand and lower pricing, though partially offset by cost reductions. Steel shipments declined to 3.8 million tons, and average selling prices dropped by $80 per ton compared to the prior quarter. The company also temporarily idled a blast furnace and outlined cost synergies from its Stelco acquisition.
Topics: Cost Reduction Earnings Market Conditions Mergers and Acquisitions Steel Industry