Investing.com - Cleveland-Cliffs reported on Friday fourth quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Cleveland-Cliffs announced earnings per share of $1.69 on revenue of $5.35B. Analysts polled by Investing.com anticipated EPS of $2.18 on revenue of $5.76B.
Cleveland-Cliffs shares are up 10.63% from the beginning of the year and are trading at $20.95 , 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 Materials sector earnings this month
Cleveland-Cliffs's report follows an earnings missed by Sherwin-Williams on January 14, who reported EPS of $1.35 on revenue of $4.76B, compared to forecasts EPS of $1.68 on revenue of $4.76B.
Freeport-McMoran had missed expectations on January 26 with fourth quarter EPS of $0.96 on revenue of $6.16B, compared to forecast for EPS of $0.9703 on revenue of $6.44B.
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