PomegraCleveland-Cliffs Stock Jumps 10% After Earnings Beat
Why is Cleveland-Cliffs stock up today?
Cleveland-Cliffs (CLF) stock rose 10% to $13.29 on Monday morning after the steelmaker posted its strongest quarter in three years, with adjusted EBITDA of $612 million, beating its own $575 million forecast.
Key numbers
| Adjusted EBITDA | $612M+114% vs Q2 ($286M) |
|---|---|
| Revenue | $5.6B+18% YoY |
| Net income | $165Mvs $134M loss in Q2 |
| Avg. selling price | $1,177/ton+$53 vs Q2 |
| Q4 2026 EBITDA outlook | ~$715M+17% vs Q3 |
| 2027 EBITDA outlook | >$4Bvs $2.5B–$2.6B consensus |
What happened
Cleveland-Cliffs (CLF) stock rose 10% to $13.29 on Monday morning after the steelmaker posted its strongest quarter in three years, with adjusted EBITDA of $612 million, beating its own $575 million forecast. EBITDA, a measure of operating profit, more than doubled from $286 million in the previous quarter. The company also said it expects about $715 million next quarter and more than $4 billion in 2027, well above Wall Street estimates. Sales of $5.6 billion rose 18% from a year ago but came in slightly below forecasts.
Why it matters
Cleveland-Cliffs makes steel for U.S. carmakers and factories, so its results show how strong American steel prices and demand are. Management said imports are 35%–40% below levels seen before U.S. tariffs, which lets domestic mills charge more. Steel sold for $1,177 per ton, up $53 from the previous quarter. Higher prices help steelmakers' profits but raise costs for companies that buy steel.
Who this affects
- MarketbullishMedium impact
- Steel investors gain; Nucor and Steel Dynamics edged higher.
- CompanybullishHigh impact
- Shareholders gain as profit returns after a $134M Q2 loss.
- CompetitorsbullishLow impact
- Nucor and Steel Dynamics rose 1%–2%, helped by firmer prices.
- IndustrymixedMedium impact
- Domestic mills gain from higher prices; steel buyers pay more.
Cleveland-Cliffs vs Nucor, Steel Dynamics
How we got here
Shares close at $12.12 ahead of third-quarter earnings.
Company reports $612M adjusted EBITDA versus $575M guided, and net income of $165M.
Shares trade up 10% at $13.29 by mid-morning; Nucor rises 2%, Steel Dynamics 1%.
Quote pages show gains of roughly 14%–15% by 11:00 a.m. ET, a wider move than at the open.
What to watch
- Fourth-quarter adjusted EBITDA, which the company expects to be about $715 million.Q4 2026
- Whether imports stay 35%–40% below pre-tariff levels, supporting U.S. steel prices.Q4 2026
- Progress cutting debt to below 2.5 times net debt to EBITDA.2027-06-30
Educational content only. Not investment advice.
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