Cleveland-Cliffs Q3 EPS $0.52, Sales $5.61B Beat $5.58B Estimate
Portfolio Pulse from Benzinga Newsdesk
Cleveland-Cliffs (NYSE:CLF) reported Q3 earnings of $0.52 per share, beating the analyst consensus estimate of $0.44 by 18.18%. This is a 79.31% increase from the same period last year. The company also reported quarterly sales of $5.61 billion, beating the analyst consensus estimate of $5.58 billion by 0.45%, but a 0.85% decrease from the same period last year.
October 23, 2023 | 8:06 pm
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Cleveland-Cliffs' Q3 earnings and sales beat estimates, which could positively impact its stock price in the short term.
Cleveland-Cliffs reported better than expected Q3 earnings and sales, which is typically a positive signal for investors and can lead to an increase in the stock price. However, the slight decrease in sales compared to the same period last year might temper this positive impact.
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