Cleveland-Cliffs EPS jumps 171% in 2Q

Higher prices and greater volumes shipped all helped Cleveland-Cliffs report consolidated revenues of $714 million, compared to the prior year’s second-quarter revenues of $471 million.

Earnings per share from continuing operations up 171 percent to $0.76 per share.

The American-based iron ore mining company said iron ore realized revenue rate in the US increased 16 percent to $113 per long ton.

Cleveland-Cliffs expects full-year U.S. iron ore pellet sales volume expectation to increase to 21 million long tons. Cliffs has also increased its full-year sales volume expectation by 500,000 long tons to 21 million long tons. Its production volume expectation of 20 million long tons is being maintained.

Creative Commons image of jumping person courtesy of Kate Russell


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