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
Following his twelve-day trip to Asia, President Donald Trump announced Monday the U.S. is putting North Korea back on a list of state sponsors of terrorism. Trump announced the move in comments ahead of a Cabinet meeting and said his administration would also be ramping up sanctions on North Korea. Volkswagen plans to invest about 22.8 billion euros in its core brand from 2018 to 2022, with main focus on e-mobility and modularization. In a statement on Saturday, the German automaker announced that the investments, as part of the brand's Transform 2025+ strategy, will significantly boost the brand's largest product and technology offensive. Health IQ Insurance Services, a startup focused on providing life insurance for health-conscious individuals, said it has secured $34.6 million in Series C funding, led by Andreessen Horowitz. To date, the company has raised a total of $81 million in funding mostly from its existing investors.
comments powered by Disqus
Follow RTT