Cleveland-Cliffs Quarterly Income Statement
NYSE: CLFBasic MaterialsMetal MiningUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Cleveland-Cliffs revenue and earnings
In the quarter ended Jun 30, 2026, Cleveland-Cliffs generated $5.23 billion in revenue, up 5.9% from the same quarter a year earlier. Cleveland-Cliffs reported a net loss of $145.0 million, compared with a loss of $486.0 million a year earlier. Gross margin was 2.5% (up from -4.3%) and operating margin -0.9%.
Diluted earnings per share came in at -$0.25.
Summary generated from market data by MetaCap's automated system. Methodology
Cleveland-Cliffs income statement (quarterly)
| Quarter (USD) | Q2 20262026-06-30 | Q1 20262026-03-31 | Q4 20252025-12-31 | Q3 20252025-09-30 | Q2 20252025-06-30 | Q1 20252025-03-31 | Q4 20242024-12-31 | Q3 20242024-09-30 | Q2 20242024-06-30 | Q1 20242024-03-31 | Q4 20232023-12-31 | Q3 20232023-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5.23B | 4.92B | 4.31B | 4.73B | 4.93B | 4.63B | 4.33B | 4.57B | 5.09B | 5.20B | 5.11B | 5.61B |
| Revenue growth (YoY) | +5.92% | +6.33% | -0.28% | +3.61% | -3.10% | -10.96% | -15.40% | -18.48% | -14.91% | -1.81% | +1.35% | -0.85% |
| Cost of Revenue | 5.09B | 5.00B | 4.52B | 4.78B | 5.15B | 5.03B | 4.60B | 4.67B | 4.93B | 4.91B | 4.96B | 5.13B |
| Gross Profit | 132.00M | -82.00M | -206.00M | -46.00M | -212.00M | -396.00M | -273.00M | -106.00M | 162.00M | 285.00M | 150.00M | 480.00M |
| Operating Expenses | 181.00M | 131.00M | 125.00M | 158.00M | 289.00M | 147.00M | 192.00M | 155.00M | 156.00M | 323.00M | 268.00M | 155.00M |
| Selling, General & Admin | 154.00M | 125.00M | 144.00M | 130.00M | 137.00M | 133.00M | 139.00M | 112.00M | 103.00M | 132.00M | 162.00M | 139.00M |
| Operating Income | -49.00M | -213.00M | -331.00M | -204.00M | -501.00M | -543.00M | -465.00M | -261.00M | 6.00M | -38.00M | -118.00M | 325.00M |
| Other Income (Expense) | -103.00M | -94.00M | -108.00M | -105.00M | -120.00M | -92.00M | -105.00M | -47.00M | -12.00M | -23.00M | -8.00M | -22.00M |
| Pretax Income | -152.00M | -307.00M | -439.00M | -309.00M | -621.00M | -635.00M | -570.00M | -308.00M | -6.00M | -61.00M | -126.00M | 303.00M |
| Income Tax | -20.00M | -81.00M | -206.00M | -78.00M | -148.00M | -149.00M | -136.00M | -76.00M | -15.00M | -8.00M | 26.00M | 29.00M |
| Net Income | -145.00M | -237.00M | -243.00M | -251.00M | -486.00M | -498.00M | -447.00M | -244.00M | 2.00M | -67.00M | -169.00M | 264.00M |
| Net Income growth (YoY) | — | — | — | — | -24400.00% | — | — | -192.42% | -99.42% | — | — | +73.68% |
| EPS (Basic) | -0.25 | -0.42 | -0.41 | -0.51 | -0.98 | -1.01 | -0.92 | -0.52 | 0.00 | -0.14 | -0.34 | 0.52 |
| EPS (Diluted) | -0.25 | -0.42 | -0.41 | -0.51 | -0.98 | -1.01 | -0.92 | -0.52 | 0.00 | -0.14 | -0.33 | 0.52 |
| Shares Outstanding (Basic) | 571.00M | 570.00M | — | 495.00M | 495.00M | 495.00M | — | 468.00M | 473.00M | 492.00M | — | 508.00M |
| Shares Outstanding (Diluted) | 571.00M | 570.00M | — | 495.00M | 495.00M | 495.00M | — | 468.00M | 474.00M | 492.00M | — | 509.00M |
| EBITDA | 213.00M | 46.00M | -59.00M | 84.00M | -108.00M | -261.00M | -207.00M | -26.00M | 234.00M | 192.00M | 117.00M | 574.00M |
| Gross Margin | 2.53% | -1.67% | -4.78% | -97.00% | -4.30% | -8.55% | -6.31% | -2.32% | 3.18% | 5.48% | 2.93% | 8.56% |
| Operating Margin | -94.00% | -4.33% | -7.67% | -4.31% | -10.15% | -11.73% | -10.75% | -5.71% | 12.00% | -73.00% | -2.31% | 5.80% |
| Net Margin | -2.77% | -4.82% | -5.63% | -5.30% | -9.85% | -10.76% | -10.34% | -5.34% | 4.00% | -129.00% | -3.31% | 4.71% |
This table shows 12 quarterly periods of Cleveland-Cliffs's income statement, from Q2 2026 back to Q3 2023, across 19 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow CLF's reporting calendar. What is a income statement?