Investing.com -- Cleveland-Cliffs Inc (NYSE:CLF) posted a wider-than-expected fourth-quarter loss, also revenue came in below Wall Street estimates, sending its shares down 2.5% in after-hours trading.
The steelmaker reported an adjusted loss per share of $0.68 for the quarter, missing analysts’ expectations of a $0.46 loss. Revenue also fell short at $4.3 billion, compared to the consensus estimate of $4.54 billion.
Cleveland-Cliffs said it expects steel unit cost reductions of around $40 per net ton in 2025 compared to 2024. The company, which now includes Canadian steelmaker Stelco (TSX:STLC) in its outlook, forecast capital expenditures of about $700 million and selling, general, and administrative expenses of roughly $625 million.
The company also projected depreciation, depletion, and amortization of approximately $1.1 billion, along with cash pension and other post-employment benefits (OPEB) payments and contributions of about $150 million for the full year.
Related Articles
Cleveland-Cliffs shares down on wider-than-expected loss
$Public Storage(PSA-N)$ forecasts downbeat 2025 FFO on LA wildfire headwinds
Microsoft data center leases slowing, analysts say, raising investor attention
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.