Cleveland-Cliffs Inc. Q4 Loss Increases, Misses Estimates

(RTTNews) - Cleveland-Cliffs Inc. (CLF) released Loss for its fourth quarter that increased from last year and missed the Street estimates.

The company's earnings came in at -$447 million, or -$0.92 per share. This compares with -$155 million, or -$0.31 per share, last year.

Excluding items, Cleveland-Cliffs Inc. reported adjusted earnings of -$332 million or -$0.68 per share for the period.

Analysts on average had expected the company to earn -$0.67 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 15.4% to $4.325 billion from $5.112 billion last year.

Cleveland-Cliffs Inc. earnings at a glance (GAAP) :

-Earnings: -$447 Mln. vs. -$155 Mln. last year. -EPS: -$0.92 vs. -$0.31 last year. -Revenue: $4.325 Bln vs. $5.112 Bln last year.