CLEVELAND-CLIFFS INC Reports Fourth Quarter 2022 Earnings Results on February 13, 2023
March 19, 2023
Earnings Overview
CLEVELAND-CLIFFS ($BER:CVA): On February 13 2023, Cleveland-Cliffs Inc. reported their fourth quarter fiscal year 2022 earnings results, which ended on December 31 2022. Total revenue for the quarter was USD -214.0 million, a 124.0% decline from the same period in the prior year. Net income was reported as USD 5044.0 million, a 5.6% decrease compared to the previous year.
Price History
On Monday, February 13th, 2023, CLEVELAND-CLIFFS INC reported its fourth quarter 2022 earnings results, with their stock opening at €18.4 and closing at €18.4, up 0.3% from its last closing price of €18.4. This earnings report details the company’s financial performance over the past quarter, providing insight into the underlying strength of the business and its prospects for long-term growth. CLEVELAND-CLIFFS INC is a leading producer of iron ore and metallurgical coal, and has operations in the United States and Canada. The company’s stock has enjoyed a rapid increase in value over the past year due to robust demand in the global steel and iron ore markets. This quarter’s earnings report is expected to reflect this increased demand as well as some of the cost savings achieved by the company in response to the pandemic.
Analysts are forecasting that CLEVELAND-CLIFFS INC will report strong growth in both revenue and profits this quarter, indicating that the business is well positioned to capitalize on current market conditions. Investors will be looking for details on new contracts and international expansion plans, as well as any other developments or insights into the company’s future strategy. Overall, CLEVELAND-CLIFFS INC’s fourth quarter earnings results will provide a vital indication of the company’s current financial health and long-term prospects. Investors are sure to be watching closely when the report is released on February 13th, 2023. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cleveland-cliffs Inc. More…
| Total Revenues | Net Income | Net Margin |
| 22.99k | 1.33k | 6.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cleveland-cliffs Inc. More…
| Operations | Investing | Financing |
| 2.42k | -936 | -1.51k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cleveland-cliffs Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 18.75k | 10.71k | 15.18 |
Key Ratios Snapshot
Some of the financial key ratios for Cleveland-cliffs Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 126.1% | 65.4% | 9.0% |
| FCF Margin | ROE | ROA |
| 6.4% | 17.5% | 6.9% |
Analysis
At GoodWhale, we conducted an analysis of CLEVELAND-CLIFFS INC‘s fundamentals. We found that it is a medium risk investment in terms of financial and business aspects. We identified two risk warnings in income sheet and balance sheet. By becoming a registered user with us, you can take a closer look at the risks associated with this investment. We continue to monitor the performance of the stock and actively update our analysis with the latest information available. More…
Summary
CLEVELAND-CLIFFS INC released their fourth quarter results for 2022, reporting an overall decrease in revenue of 124.0%. Net income was reported as USD 5044.0 million, a 5.6% decrease from the prior year. This decrease in both revenue and profit signals a potential downturn in the company’s performance and could affect investor sentiment. Investors should closely monitor the company’s upcoming financial results to assess its current financial health and determine whether or not it is still a safe investment.
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