- The company was formerly known as Cliffs Natural Resources Inc. and changed its name to Cleveland-Cliffs Inc. in August 2017.
CLEVELAND (AP) _ Cleveland-Cliffs Inc. (CLF) on Friday reported second-quarter earnings of $165.1 million.
On a per-share basis, the Cleveland-based company said it had profit of 55 cents. Earnings, adjusted to account for discontinued operations, came to 76 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The largest and oldest iron ore mining company in the United States posted revenue of $714.3 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $629.2 million.
Cleveland-Cliffs shares have climbed 23 percent since the beginning of the year. The stock has increased 14 percent in the last 12 months.
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