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

Editors Pick
Life expectancy at birth in the U.S. is already lower than most other developed nations and is now projected to fall further behind by 2030, according to a new study. It also suggests that by 2030, national female life expectancy in South Korea could break the 90 year barrier. Department store chain J.C. Penney Co. Inc. on Friday reported a turnaround to profit in the fourth quarter as a slight decline in sales was more than offset by lower expenses. Adjusted earnings per share for the quarter beat analysts' expectations, while revenues slightly missed their estimates. Earlier today, J.C. Penny announced a plan to optimize its national retail operations. Google is planning to significantly expand a carpool service on its navigational app Waze, according to a report in the Wall Street Journal. The move indicates the company is edging closer to a potential clash with ride-hailing service Uber Technologies Inc.
comments powered by Disqus
Follow RTT