Form 8-K · Current Report · Filed 2026-02-09
Cleveland-Cliffs Reports Fourth-Quarter and Full-Year 2025 Financial Results
Cleveland-Cliffs Inc. reported a fourth-quarter GAAP net loss of $235 million, or $0.44 per diluted share, and a full-year GAAP net loss of $1.4 billion, or $2.91 per diluted share. The company's fourth-quarter revenues were $4.3 billion, consistent with the prior year, while full-year revenues were $18.6 billion, down from $19.2 billion in 2024. The company's Adjusted EBITDA loss for the fourth quarter was $21 million, compared to an Adjusted EBITDA loss of $81 million in the fourth quarter of 2024. For the full year, Adjusted EBITDA was $37 million, compared to $773 million in 2024. The company expects steel shipment volumes of approximately 16.5 - 17.0 million net tons for the full-year 2026.
- Filer
- Cleveland-Cliffs Inc. CLF · NYSE
- Filed
- Accession
- 0000764065-26-000022
- CIK
- 0000764065
- Signal
- High impactBasic Materials
- Source
- Official filing on sec.gov ↗
Items reported
Reported Item
Market reaction
Close before filing
$14.73
Next session
-16.7%
Since filing
-21.8%
Latest close
$11.52
What happened, not what will happen — closing prices around the filing date.
About Cleveland-Cliffs Inc.
Cleveland-Cliffs Inc. is a leading integrated producer of flat-rolled steel products in North America. The company operates through a robust supply chain that spans a wide range of steel manufacturing processes, including mining, pelletizing, and direct reduced iron production. As a major supplier of steel to various industries, Cleveland-Cliffs serves critical sectors such as automotive, construction, and manufacturing, providing essential materials used in the production of vehicles, appliances, and infrastructure projects. Founded in 1847, Cleveland-Cliffs has evolved from a small iron mining operation into a comprehensive steel powerhouse, reflecting its importance to the U.S. economy and robust industrial base. The firm's strategic acquisitions and production capabilities enhance its position in the market, allowing it to reduce reliance on third-party suppliers and maintain greater control over the quality of its steel products. Cleveland-Cliffs stands out in the financial market due to its significant impact on raw material supply chains and its role in supporting industrial growth and development across North America.
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