Cleveland-Cliffs financials
$11.01−1.87%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 | Q2 '24 Jun 30 | Q1 '24 Mar 31 | Q4 '23 Dec 31 | Q3 '23 Sep 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.23B | $4.92B | $4.31B | $4.73B | $4.93B | $4.63B | $4.33B | $4.57B | $5.09B | $5.20B | $5.11B | $5.61B |
| Gross profit | $132.0M | -$82.0M | -$206.0M | -$46.0M | -$212.0M | -$396.0M | -$273.0M | -$106.0M | $162.0M | $285.0M | $168.0M | $480.0M |
| Gross margin | 2.5% | −1.7% | −4.8% | −1.0% | −4.3% | −8.6% | −6.3% | −2.3% | 3.2% | 5.5% | 3.3% | 8.6% |
| Operating income | -$49.0M | -$143.0M | -$551.0M | -$122.0M | -$501.0M | -$475.0M | -$712.0M | -$172.0M | $81.0M | -$38.0M | -$100.0M | $325.0M |
| Net income | -$145.0M | -$237.0M | -$243.0M | -$251.0M | -$486.0M | -$498.0M | -$447.0M | -$244.0M | $2.0M | -$67.0M | -$155.0M | $264.0M |
| Net margin | −2.8% | −4.8% | −5.6% | −5.3% | −9.8% | −10.8% | −10.3% | −5.3% | 0.0% | −1.3% | −3.0% | 4.7% |
| Diluted EPS | $-0.25 | $-0.42 | $-0.44 | $-0.51 | $-0.98 | $-1.01 | $-0.92 | $-0.52 | $0.00 | $-0.14 | $-0.31 | $0.52 |
| EBITDA | $216.0M | $116.0M | -$285.0M | $169.0M | $17.0M | -$190.0M | -$426.0M | $79.0M | $349.0M | $360.0M | $32.0M | $579.0M |
| Operating cash flow | $230.0M | -$325.0M | -$13.0M | -$143.0M | $45.0M | -$351.0M | -$472.0M | -$84.0M | $519.0M | $142.0M | $652.0M | $767.0M |
| Free cash flow | $73.0M | -$477.0M | -$153.0M | -$300.0M | -$67.0M | -$503.0M | -$677.0M | -$235.0M | $362.0M | -$40.0M | $487.0M | $605.0M |
| Diluted shares | 571.0M | 570.0M | 547.0M | 495.0M | 495.0M | 495.0M | 486.0M | 468.0M | 474.0M | 492.0M | 506.0M | 509.0M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $70.0M | $45.0M | $57.0M | $66.0M | $61.0M | $57.0M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total debt | $7.70B | $7.76B | $7.25B | $8.04B | $7.73B | $7.60B |
| Total assets | $20.11B | $20.11B | $20.01B | $20.29B | $20.47B | $20.84B |
| Total liabilities | $14.30B | $14.10B | $13.69B | $14.58B | $14.43B | $14.35B |
| Shareholders' equity | $5.82B | $6.02B | $6.32B | $5.71B | $6.04B | $6.48B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology