News about Cleveland-Cliffs

Cleveland-Cliffs reported third-quarter 2026 revenue of $5.6 billion, up from $5.2 billion in the second quarter, and GAAP net income of $165 million, or $0.26 per diluted share. Adjusted EBITDA rose to $612 million from $286 million, beating the $575 million guidance given three months earlier as selling prices, volumes and unit costs all improved. The company expects fourth-quarter adjusted EBITDA of about $715 million and 2027 adjusted EBITDA above $4 billion, based on new contracts and price forecasts. It will also indefinitely idle galvanizing lines at Stelco because of an oversupplied Canadian galvanized steel market, while maintaining total Stelco production and about 2,000 Canadian jobs.