Cleveland-Cliffs Inc. (NYSE: CLF) Q2 2025 Earnings | 07/21/2025

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Cleveland-Cliffs Inc. (NYSE: CLF) reported its Q2 2025 results on July 21, 2025, highlighting substantial progress on operational and strategic priorities despite recording a GAAP net loss for the quarter. Consolidated revenues reached $4.9 billion, up from $4.6 billion in the previous quarter, underpinned by record steel shipments of 4.3 million net tons. Although the company posted a GAAP net loss of $470 million for the quarter—primarily due to $323 million in non-recurring charges related to previously announced idling of select facilities—the adjusted net loss narrowed to $247 million, or $0.50 per diluted share. This marked a notable improvement over the $456 million adjusted net loss in Q1. The company generated adjusted EBITDA of $97 million, representing a dramatic turnaround from the negative $174 million recorded in Q1 2025. Significant cost reductions were achieved, with steel unit costs down by $15 per net ton compared to the previous quarter. As of June 30, 2025, Cleveland-Cliffs maintained strong liquidity of $2.7 billion, supporting ongoing operational stability and strategic initiatives. CEO Lourenco Goncalves emphasized that Cliffs' previously announced footprint optimization is already yielding benefits, evident in improved costs and operational efficiency for Q2. Goncalves anticipates these positive trends to strengthen further in the second half of 2025, projecting increased adjusted EBITDA and enhanced free cash flow. Inventory reductions during the quarter contributed to a meaningful release of working capital, and the company’s order book remains strong amid resilient domestic steel pricing. The report also highlighted the imminent conclusion of a loss-making five-year slab supply contract in less than five months, which has recently weighed on EBITDA but will not be renewed. On the macro front, management cited supportive conditions for the domestic steel and automotive industries, crediting enhanced tariffs and policy measures that are expected to benefit U.S. manufacturing and jobs. About Inside Ticker: For real-time earnings updates, strategic analysis, and the latest news on Cleveland-Cliffs Inc. (NYSE: CLF) and leading U.S. manufacturers, follow Inside Ticker and visit InsideTicker.com for expert commentary and financial insights. Hashtags: #ClevelandCliffs #CLF #Q22025 #Earnings #FinancialResults #Steel #Manufacturing #Shipments #Revenue #AdjustedEBITDA #OperationalExcellence #CostReduction #USManufacturing #AutoIndustry #FootprintOptimization #Transformation #BusinessUpdate #InsideTicker #CEOUpdate #SteelIndustry #InvestorUpdate #GrowthStrategy #OrderBook #FreeCashFlow #Restructuring #Q2Results #Liquidity #MarketUpdate #StrategicInitiatives #Tariffs #Jobs #innovation