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Cleveland-Cliffs Inc. Bottom Line Drops In Q4

Cleveland-Cliffs Inc. (CLF) announced earnings for fourth quarter that fell from the same period last year.

The company's profit came in at $63.2 million, or $0.23 per share. This compares with $609.5 million, or $1.98 per share, in last year's fourth 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 23.3% to $534.1 million from $696.3 million last year.

Cleveland-Cliffs Inc. earnings at a glance:

-Earnings (Q4): $63.2 Mln. vs. $609.5 Mln. last year.
-EPS (Q4): $0.23 vs. $1.98 last year.
-Analysts Estimate: $0.24
-Revenue (Q4): $534.1 Mln vs. $696.3 Mln last year.

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