Investing.com - Cleveland-Cliffs reported on Friday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Cleveland-Cliffs announced earnings per share of $2.33 on revenue of $5.87B. Analysts polled by Investing.com anticipated EPS of $2.21 on revenue of $5.69B.
Cleveland-Cliffs shares are up 45.33% from the beginning of the year and are trading at $21.16 , down-from-52-week-high.They are outperforming the EUR/USD which is down 0% from the start of the year.
Cleveland-Cliffs follows other major Basic Materials sector earnings this month
Cleveland-Cliffs's report follows an earnings beat by Freeport-McMoran on Thursday, who reported EPS of $0.89 on revenue of $6.08B, compared to forecasts EPS of $0.8161 on revenue of $6.21B.
Dow had beat expectations on Thursday with third quarter EPS of $2.75 on revenue of $14.84B, compared to forecast for EPS of $2.56 on revenue of $14.26B.
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