Cleveland-Cliffs Inc.

Cleveland-Cliffs Inc. today reported first-quarter results for the period ended March 31, 2021. First-quarter 2021 consolidated revenues were $4.0 billion, compared to the prior-year first-quarter revenues of $359 million. For the first quarter of 2021, the Company recorded net income of $41 million, or $0.07 per diluted share. This included the following charges totaling $160 million, or $0.28 per diluted share: charges [...]

Cleveland-Cliffs Inc. announced today a tentative agreement with the United Steelworkers for a new 53-month labor contract that is effective as of April 1, 2021. The new contract will cover approximately 300 USW-represented workers. Lourenco Goncalves, Chairman, President and CEO, stated, "We are pleased to reach a new labor contract with the USW for our employees at Mansfield Works, one of our several EAF steel mills. As [...]

Cleveland-Cliffs Inc. will announce its first-quarter 2021 earnings results before the U.S. market open on Thursday, April 22, 2021. 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 on April 22, 2021 at 10:00am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available [...]

Cleveland-Cliffs Inc. today reported fourth-quarter and full-year results for the period ended December 31, 2020. On December 9, 2020, Cleveland-Cliffs completed the acquisition of substantially all the operations of ArcelorMittal USA LLC , which has since been renamed to Cleveland-Cliffs Steel LLC. The results set forth in this release only consider the operating results of Cleveland-Cliffs Steel LLC for the period from [...]

Cleveland-Cliffs Inc. announced today that it has priced $500 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2029 and $500 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2031 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The 2029 Notes will bear interest at an annual rate of 4.625 percent and will be issued at a [...]

Cleveland-Cliffs Inc. announced today that it intends to offer to sell, subject to market and other conditions, senior unsecured guaranteed notes to be issued by the Company in separate series of notes due 2029 and 2031 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Notes will be guaranteed on a senior unsecured basis by the Company's material direct and indirect [...]

Cleveland-Cliffs Inc. today announced the pricing of its underwritten public offering of 60,000,000 common shares, par value $0.125 per share , which consists of 40,000,000 currently outstanding Common Shares offered by ArcelorMittal North America Holdings LLC, an indirect, wholly-owned subsidiary of ArcelorMittal S.A. and 20,000,000 Common Shares offered by the Company. The Company has also granted the underwriter a [...]

Cleveland-Cliffs Inc. today announced that it has commenced an underwritten public offering of 60,000,000 common shares, par value $0.125 per share , which consists of 40,000,000 currently outstanding Common Shares offered by ArcelorMittal North America Holdings LLC, an indirect, wholly-owned subsidiary of ArcelorMittal S.A. and 20,000,000 Common Shares offered by the Company. The Company also intends to grant the [...]

Cleveland-Cliffs Inc. announced today that it has set a target to reduce its greenhouse gas emissions by 25 percent by 2030. This goal represents combined Scope 1 and Scope 2 greenhouse gas emission reductions on a mass basis compared with 2017 baseline levels. The Company has published a detailed plan outlining its strategic priorities on its corporate website at www.clevelandcliffs.com. Lourenco Goncalves, Chairman [...]

Cleveland-Cliffs Inc. today announced its preliminary fourth-quarter financial results for the period ended December 31, 2020. The Company completed its acquisition of ArcelorMittal USA on December 9, 2020. Due to the extensive accounting integration associated with the transaction, only selected preliminary financial information is available at this time. The Company will announce its full fourth-quarter 2020 earnings [...]