Plus   Neg

Cleveland-Cliffs Posts Q1 Loss On Acquisition Costs - Quick Facts

Cleveland-Cliffs Inc. (CLF) recorded a first quarter net loss of $49 million, or $0.18 per share, which included $66 million, or $0.22 per share, of acquisition costs,
severance, and inventory step-up amortization. This is compared to a net loss of
$22 million, or $0.08 per share, prior year. On average, seven analysts polled by Thomson Reuters expected the company to report a loss per share of $0.16, for the quarter. Analysts' estimates typically exclude special items. Total adjusted EBITDA increased to $22.7 million from $21.2 million.

First quarter total revenues were $359 million, compared to $157 million, previous year. Analysts expected revenue of $366.23 million for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
Follow RTT