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Cleveland-Cliffs Inc. Q3 Earnings Drop

Cleveland-Cliffs Inc. (CLF) released a profit for third quarter that declined from the same period last year.

The company's earnings totaled $90.9 million, or $0.33 per share. This compares with $437.8 million, or $1.41 per share, in last year's third quarter.

Analysts had expected the company to earn $0.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 25.1% to $555.6 million from $741.8 million last year.

Cleveland-Cliffs Inc. earnings at a glance:

-Earnings (Q3): $90.9 Mln. vs. $437.8 Mln. last year.
-EPS (Q3): $0.33 vs. $1.41 last year.
-Analysts Estimate: $0.24
-Revenue (Q3): $555.6 Mln vs. $741.8 Mln last year.

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