-=Cleveland-Cliffs (CLF) reported earnings on Fri 19 Oct 2018 (b/o)

Cleveland-Cliffs beats by $0.75, reports revs in-line; Initiates $0.20 quarterly dividend 

• Reports Q3 (Sep) earnings of $1.41 per share, $0.75 better than the S&P Capital IQ Consensus of $0.66; revenues rose 6.3% year/year to $742 mln vs the $736.06 mln S&P Capital IQ Consensus.
• For the third quarter of 2018, the Company reported adjusted EBITDA of $250 million, a 66 percent increase from the prior-year's third quarter adjusted EBITDA of $151 million.
• Company begins cash dividend of $0.20 per share on an annualized basis, to be paid quarterly.
• "As we begin to wrap up the year, we expect current strong market conditions to support our strong profitability through the next quarter and into 2019. Our long-term forecast of predictable and consistent cash flow generation, as well as the great progress we continue to make on the HBI project, gave us the comfort to implement a healthy quarterly dividend."
• Outlook
• Based on the assumption that iron ore prices, steel prices, and pellet premiums will average for the remainder of 2018 their respective year-to-date averages, Cliffs would realize USIO revenue rates in the range of $105 to $110 per long ton. This range remains consistent with the prior calculation as the year-to-date average increase in hot-rolled coil steel prices has been offset by higher freight rates.
• Cliffs full-year sales volume expectation of 21 million long tons and production volume expectation of 20 million long tons were each maintained.
• Cliffs' full-year 2018 U.S. Iron Ore cash cost of goods sold and operating expense expectation is unchanged at $58 - $63 per long ton.

Cleveland-Cliffs CEO berates analysts during conference call and tells him to 'commit suicide' for being such a 'disaster' and an 'embarrassment'

• Lourenco Goncalves told analysts on a conference call that they didn't understand his company, Cleveland-Cliffs Inc., or even their own businesses 
• 'You guys should resign for your lack of knowledge of things,' the CEO said, 'You are a disaster. You are an embarrassment to your parents' 
• 'We are going to screw this guy so badly that I don't believe that they will be able to only resign. They will have to commit suicide,' Goncalves added 
• Following the rant, Cleveland-Cliffs shares sank nearly 8 percent in afternoon trading  

Cleveland-Cliffs CEO Lourenco Goncalves non-apologetic on CNBC regarding his earnings-call rant

• He is proud of CLF's strong results and today's publicity
• Not concerned about his Board at all.
• He says the Goldman analyst used the wrong share count, which is inexcusable given their investment banking relationship.
• Note: The company 'missed earnings by a penny' -- largely in-line results.

Cleveland-Cliffs defended by B. Riley Analyst on CNBC after CEO tirade on conference call 

• B. Riley FBR analyst says CEO Lourenco Goncalves did a great job turning the company around. He is passionate about his business.
• This morning, the company reported an in-line quarter and maintained guidance while initiating a dividend.
• The CEO was frustrated by weakness in the stock, which may have been influenced by cautious analyst commentary.
• He likes the stock with a $15 tgt.
• Lourenco Goncalves is scheduled to be on CNBC at some point during the final hour of trade