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Cleveland-Cliffs’ Q2 2018 Earnings: What to Look Forward To


Dec. 4 2020, Updated 10:42 a.m. ET

Upcoming second-quarter results

Cleveland-Cliffs (CLF) will release its second-quarter results before the market opens on July 20. It will have a conference call with analysts and investors on the same day at 10:00 AM EDT.

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What to look for in the results

Cleveland-Cliffs’ second-quarter results are important for investors for several reasons. Because it is among the first companies in the US steel sector to report, it will be a relevant read for those interested in other US steel stocks and the general market dynamic. More specifically, the company’s expectations for its second quarter were based on YTD (year-to-date) first-quarter prices. Due to the impact of tariffs, there has been a significant upward revision in domestic steel prices since then. As such, it will be interesting to see the company’s outlook for the rest of the year.

Moreover, the company has announced that it expects to exit its Australian operations by June 30. Investors are likely curious about the net impact of the exit on the company’s financials.

During its second-quarter earnings call, Cleveland-Cliffs’ management is expected to provide an update about the company’s hot briquetted iron plant and its arrangements to start the project. Cliffs’ management is also expected to address the impact of trade tariffs on steel imports and steel pricing in the United States. Read Revisiting the Case: How Does Cleveland-Cliffs Look Now? for more information.

In this series, we’ll conduct an in-depth analysis of CLF’s current position and future outlook based on its fundamentals and market dynamics.

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Peers’ results

Nucor (NUE) is expected to release its second-quarter earnings results on July 19, while Steel Dynamics’ (STLD) quarterly earnings are scheduled for July 23. AK Steel (AKS) will release its earnings on July 30, while U.S. Steel Corporation’s (X) earnings are slated for August 1.

Series preview

In this series, we’ll see what investors can expect from Cleveland-Cliffs’ second-quarter earnings report. We’ll look at the expectations for the company’s volumes and realized prices for its US and Asia-Pacific divisions. We’ll also discuss the company’s earnings estimates.

Let’s start by looking at the expectations for CLF’s US volumes in the next part of this series.


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