Cleveland-Cliffs Inc. (CLF) has reported a loss of $155 million in its fourth quarter, according to the company’s latest financial statement. The Cleveland-based mining company posted a per-share loss of 31 cents, which, when adjusted for one-time gains and costs, came to 5 cents per share, surpassing Wall Street expectations. However, the company’s revenue of $5.11 billion in the period fell short of Street forecasts, which had anticipated $5.16 billion.
For the entire year, Cleveland-Cliffs Inc. reported a profit of $399 million, or 78 cents per share, with revenue totaling $22 billion. The company’s financial results are closely watched by investors and industry analysts, and the latest figures are likely to impact the market sentiment towards Cleveland-Cliffs Inc. stock.
It’s important to note that this story was generated by Automated Insights using data from Zacks Investment Research. For more in-depth analysis and comprehensive stock reports on CLF, visit Zacks.com/ap/CLF.
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