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Oct 20, 2025 12:00 PM

Cleveland-Cliffs CEO Sees Steel Demand Rebound Thanks To 'New Trade Environment'

Cleveland-Cliffs Inc. (NYSE:CLF) shares are trading higher premarket on Monday after the company reported third-quarter 2025 results.

The steelmaker reported an adjusted loss of 45 cents per share, beating analysts’ expectations for a 48-cent loss.

Revenue totaled $4.73 billion, missing the consensus estimate of $4.90 billion but up from $4.57 billion in the same quarter last year.

Also Read: Cleveland-Cliffs Q3 Preview: Will Trump Get Praised By Company For Tariffs Again?

Revenue was spread across automotive (30%), infrastructure and manufacturing (29%), distributors and converters (28%), and steel producers (13%). Liquidity stood at $3.1 billion as of September 30, 2025.

Steelmaking revenue rose to $4.6 billion from $4.4 billion a year ago.

Adjusted EBITDA came in at $143 million versus $122 million in the year-ago quarter.

Key Metrics

Steel shipments stood at 4.0 million net tons, up from 3.8 million in the third quarter of 2024.

The average selling price fell slightly year-over-year to $1,032/ton from $1,045/ton in the same quarter a year ago.

Product mix was led ...

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