Cleveland-Cliffs Q4 Adj EPS $(0.05) Misses $(0.04) Estimate, Sales $5.11B Miss $5.15B Estimate
Portfolio Pulse from Benzinga Newsdesk
Cleveland-Cliffs Inc. (NYSE:CLF) reported a Q4 adjusted EPS loss of $(0.05), missing the $(0.04) estimate by 25%. Sales reached $5.11B, slightly below the $5.15B estimate but marked a 1.35% increase from $5.04B in the same period last year.
January 29, 2024 | 9:07 pm
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NEGATIVE IMPACT
Cleveland-Cliffs reported a larger than expected Q4 adjusted EPS loss and slightly lower sales than estimated, although sales have increased compared to last year.
Missing both EPS and sales estimates can negatively impact investor sentiment and stock price in the short term. However, the year-over-year sales growth may provide some positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100