logo
Share SHARE
FONT-SIZE Plus   Neg

Cliffs Natural Resources Q1 Profit Declines

Cliffs Natural Resources Inc. Co (CLF) reported that its first-quarter net income attributable to shareholders was $375.8 million, or $2.63 per share, compared to $423.4 million, or $3.11 per share in the comparable quarter last year.

Consolidated first quarter revenues were $1.3 billion, up from $1.2 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.10 per share on revenues of $1.30 billion for the quarter. Analysts' estimates typically exclude special items.

Cliffs maintained its previously disclosed 2012 capital expenditures budget of approximately $1 billion, comprised of approximately $300 million in sustaining capital and $700 million in growth and productivity-improvement capital.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
American Express did not violate antitrust laws and can prohibit merchants from steering customers to credit cards with lower transaction fees, a federal appeals court ruled Monday. This ruling reverses an earlier trial court's judgment against the company and directs that court to enter judgment in favor of American Express. General Motors (GM) luxury brand is offering 400 dealers as it reshapes the brand's image to better compete with rivals, according to media reports. The Detroit auto maker will provide as much as $180,000 in "transition assistance" to U.S. Cadillac dealers unwilling to invest in a set of new standards... Hotwire of Expedia Inc. cautioned customers about a fake fax memo. The memo, offering deep travel discounts, has an old corporate Hotwire logo in it to falsely imply a connection with Hotwire. It carries phone numbers which are not related to travel booking site.
comments powered by Disqus
Follow RTT