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Cleveland-Cliffs Inc.

CLF Basic Materials Metal Mining
$13.05
▼ -4.4% Today
as of Oct 22, 16:47 ET
Last 30 days +12.02% Sep 14 → Oct 22
$10.76 $11.66 $12.56 $13.45 $14.35 Sep 14 Sep 22 Sep 29 Oct 07 Oct 14 Oct 22
Open
$13.90
High
$13.90
Low
$13.02
Volume
$35M
Avg Vol
$19M
Mkt Cap
$6.9B
P/E (TTM)
—
Beta
—
52w High
$15.35
52w Low
$7.73
Div Yield
—
Shares Out
$571M

Recent Press Releases & News last 60 days · 25 items

Oct 21 · 15:20 Zacks
Earnings Estimates Moving Higher for Cleveland-Cliffs (CLF): Time to Buy?
Oct 21 · 01:10 Simply Wall St.
Cleveland Cliffs (CLF) Q3 Earnings Recovery Meets Leverage Doubts
Oct 20 · 23:00 Zacks
Compared to Estimates, Cleveland-Cliffs (CLF) Q3 Earnings: A Look at Key Metrics
▸ Show all 25 press releases & news Free account →

CLF earnings at a glance

The options market is pricing a move of about ±13.1% after the report, a range of roughly $11.34 to $14.76 from today's $13.05. Over its last 6 reports the stock rose the next day 3 times and fell 3, moving ±14.0% on average; after the most recent report on Jul 23, 2026 it moved +16.0%. That means options currently expect about the same movement than CLF has typically delivered. CLF beat the consensus EPS estimate in 5 of its last 6 reported quarters. Implied volatility is currently 81%. The share price of $13.05 sits in the middle of its 52-week range.

More Basic Materials stocks · All stocks · Earnings calendar

Overview

52-week range
$7.73
$15
70% of range
Avg surprise (last 6)
+9.9%
Avg reaction (last 6)
+2.6%
50% positive
Latest IV / EM
81%
EM ±13.1% · $12 · Oct 23

Earnings trends

EPS — actual vs estimate Actual Estimate
$-0.92$-0.52$-0.12$0.27$0.67 Actual $-0.11Actual $0.67Actual $0.52Actual $-0.14Actual $-0.52Actual $-0.92Est $-0.78Actual $-0.50Est $-0.68Actual $-0.45Est $-0.48Actual $-0.43Est $-0.62Actual $-0.40Est $-0.44Actual $-0.20Est $-0.20 MarJunSepMarJunSepMar/2025Jun/2025Sep/20258K8KJun/2026
Revenue vs Net Income Revenue Net income
$-498M$998M$2.5B$4.0B$5.5B Sep 24Mar 25Jun 25Sep 25Mar 26Jun 26

Earnings history

DatePeriodActual EPSEstSurpriseYoY %ΔDay reactSource
Thu Jul 23, 2026Jun/2026 $-0.20 $-0.20 +4.8% +60.0% +16.0% earnings
Mon Apr 20, 20268K 2026-04-20 $-0.40 $-0.44 +9.1% — -2.1% earnings
Mon Feb 9, 20268K 2026-02-09 $-0.43 $-0.62 +30.6% — -16.4% earnings
Mon Oct 20, 2025Sep/2025 $-0.45 $-0.48 +6.2% — +21.5% earnings
Mon Jul 21, 2025Jun/2025 $-0.50 $-0.68 +26.5% — +12.4% earnings
Wed May 7, 2025Mar/2025 $-0.92 $-0.78 -17.9% — -15.8% earnings
Mon Sep 30, 2024Sep 2024 $-0.52 — — — — financials
Sun Jun 30, 2024Jun 2024 — — — — — financials
Sun Mar 31, 2024Mar 2024 $-0.14 — — — — financials
Sat Sep 30, 2023Sep 2023 $0.52 — — — — financials
Fri Jun 30, 2023Jun 2023 $0.67 — — — — financials
Fri Mar 31, 2023Mar 2023 $-0.11 — — — — financials

Financials

Income statement (quarterly)

MetricJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue$5.23B$4.92B—$4.73B$4.93B$4.63B—$4.57B
Cost of revenue$5.09B$5.00B—$4.78B$5.15B$5.03B—$4.67B
Gross profit————————
Operating income$-49M$-213M—$-204M$-501M$-543M—$-261M
Net income$-145M$-237M—$-251M$-486M$-498M—$-244M
EPS (diluted)$-0.25$-0.42—$-0.51$-0.98$-1.01—$-0.52

Balance sheet (quarterly)

MetricJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Cash & equivalents$70M$45M$57M$66M$61M$57M$54M$39M
Inventory$4.53B$4.59B$4.77B$4.68B$4.70B$4.89B$5.09B$4.24B
Total current assets$6.81B$6.71B$6.43B$6.69B$6.69B$6.96B$6.91B$6.03B
Total assets$20.11B$20.11B$20.01B$20.29B$20.47B$20.84B$20.95B$16.80B
Long-term debt$7.70B$7.76B$7.25B$8.04B$7.73B$7.60B$7.07B$3.77B
Total liabilities$14.30B$14.10B$13.69B$14.58B$14.43B$14.35B$14.08B$9.70B
Total equity$5.60B$6.02B$6.12B$5.47B$6.01B$6.45B$6.63B$7.07B

Implied volatility — last 90 days

60%96%132%168%204% Jun 07 — IV 85% · EM ±7.9%Jun 08 — IV 91% · EM ±7.6%Jun 09 — IV 97% · EM ±7.0%Jun 10 — IV 88% · EM ±5.2%Jun 11 — IV 94% · EM ±3.9%Jun 15 — IV 79% · EM ±5.7%Jun 16 — IV 86% · EM ±5.1%Jun 17 — IV 102% · EM ±4.3%Jun 19 — IV 66% · EM ±7.2%Jun 22 — IV 80% · EM ±6.7%Jun 23 — IV 78% · EM ±5.6%Jun 24 — IV 70% · EM ±4.1%Jun 25 — IV 108% · EM ±4.5%Jun 29 — IV 82% · EM ±17.0%Jun 30 — IV 82% · EM ±16.8%Jul 01 — IV 84% · EM ±16.8%Jul 02 — IV 87% · EM ±17.1%Jul 03 — IV 89% · EM ±17.0%Jul 06 — IV 89% · EM ±15.8%Jul 07 — IV 86% · EM ±14.8%Jul 08 — IV 92% · EM ±15.3%Jul 09 — IV 94% · EM ±15.3%Jul 10 — IV 94% · EM ±14.6%Jul 13 — IV 101% · EM ±14.0%Jul 14 — IV 107% · EM ±14.1%Jul 15 — IV 107% · EM ±13.5%Jul 16 — IV 110% · EM ±13.0%Jul 17 — IV 113% · EM ±12.5%Jul 20 — IV 151% · EM ±12.6%Jul 21 — IV 164% · EM ±11.9%Jul 22 — IV 205% · EM ±12.1%Jul 23 — IV 106% · EM ±4.4%Jul 27 — IV 90% · EM ±7.5%Jul 28 — IV 81% · EM ±5.8%Jul 29 — IV 89% · EM ±5.3%Jul 30 — IV 100% · EM ±4.2%Aug 03 — IV 75% · EM ±6.3%Aug 04 — IV 88% · EM ±6.4%Aug 05 — IV 89% · EM ±5.3%Aug 06 — IV 100% · EM ±4.2%Aug 10 — IV 65% · EM ±5.4%Aug 11 — IV 66% · EM ±4.7%Aug 12 — IV 68% · EM ±4.0%Aug 13 — IV 66% · EM ±2.8%Aug 17 — IV 73% · EM ±6.1%Aug 18 — IV 67% · EM ±4.8%Aug 19 — IV 85% · EM ±5.0%Aug 20 — IV 99% · EM ±4.1%Aug 24 — IV 75% · EM ±6.3%Aug 25 — IV 69% · EM ±5.0%Aug 26 — IV 66% · EM ±3.9%Aug 27 — IV 73% · EM ±3.0%Aug 31 — IV 60% · EM ±5.0%Sep 01 — IV 65% · EM ±4.7%Sep 02 — IV 62% · EM ±3.7%Sep 03 — IV 65% · EM ±2.7%Sep 07 — IV 69% · EM ±5.8%Sep 08 — IV 70% · EM ±5.1%Sep 09 — IV 62% · EM ±3.6%Sep 10 — IV 71% · EM ±3.0%Sep 14 — IV 66% · EM ±5.5%Sep 15 — IV 74% · EM ±5.3%Sep 16 — IV 78% · EM ±4.6%Sep 17 — IV 78% · EM ±3.3%Sep 21 — IV 62% · EM ±5.2%Sep 22 — IV 71% · EM ±5.1%Sep 23 — IV 89% · EM ±5.3%Sep 24 — IV 78% · EM ±3.3%Sep 28 — IV 70% · EM ±14.6%Sep 29 — IV 68% · EM ±13.9%Sep 30 — IV 72% · EM ±14.4%Oct 01 — IV 63% · EM ±12.3%Oct 02 — IV 76% · EM ±14.5%Oct 05 — IV 71% · EM ±12.7%Oct 06 — IV 81% · EM ±13.9%Oct 07 — IV 78% · EM ±13.1%Oct 08 — IV 81% · EM ±13.1%

Sector peers

BVN
Buenaventura Mining Company Inc.
$7.9B $28.49-5.8%
MP
MP Materials Corp.
$8.2B $38.56-1.2%
USAR
USA Rare Earth, Inc.
$5.0B $9.63-4.3%
ERO
Ero Copper Corp.
$3.8B $30.13-8.4%
HBM
Hudbay Minerals Inc.
$11.6B $21.89-7.5%
NEXA
Nexa Resources S.A.
$1.7B $11.16-9.3%

CLF earnings FAQ

What is CLF's expected move for earnings?

Options currently price a move of about ±13.1%, or $1.71 per share either way from $13.05.

How does CLF stock usually react to earnings?

Across the last 6 reports the average next-day move was ±14.0%, up 3 times and down 3 times.

What is CLF's implied volatility?

CLF's at-the-money implied volatility is about 81% based on the latest options snapshot.

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