Investing Ideas

Cleveland-Cliffs to Report Q1 Earnings: What's in Store?

Cleveland-Cliffs (CLF) is slated to release Q1 2024 results after the closing bell on Apr 22.

The company beat the Zacks Consensus Estimate for earnings in three of the last 4 quarters, while posted in-line result once. It has a trailing 4-quarter earnings surprise of roughly 24.7%, on average. Cleveland-Cliffs is likely to have gained from healthy overall volumes, higher selling prices and lower steelmaking unit costs in Q1. The stock has gained 22.4% in a year's time compared with the industry's 2.4% rise.

Cleveland-Cliffs Inc. is a U.S. steel manufacturer based in Cleveland, Ohio. They specialize in the mining, beneficiation, and pelletizing of iron ore, as well as steelmaking, including stamping and tooling.

The published model predicts an earnings beat for Cleveland-Cliffs this time around again. The combination of a positive Earnings ESP and a Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earning beat. Earnings ESP: Earnings ESP for Cleveland-Cliffs is +12.00%. The Consensus Estimate for Q1 is currently pegged at 19 cents. The Rank: Cleveland-Cliffs currently carries a Rank #3.

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