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What’s in the Cards for Cleveland-Cliffs’ Q4 Results?

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Feb. 6 2019, Published 8:08 a.m. ET

Upcoming fourth-quarter results

Cleveland-Cliffs (CLF) is slated to release its fourth-quarter results before the market opens on February 8. It will have a conference call with analysts and investors on the same day at 10:00 AM EST. CLF’s third-quarter results slightly missed earnings expectations, while revenues beat the expectations.

Cleveland-Cliffs stock has outperformed its US (DIA) steel peers in January. Compared to CLF’s 39.0% rise, Steel Dynamics (STLD), Nucor (NUE), ArcelorMittal (MT), AK Steel (AKS), and U.S. Steel (X) have returned 21.8%, 18.2%, 13.7%, 31.1%, and -23.6%, respectively. See Can Cleveland-Cliffs Stock Continue Outperforming Peers in 2019? for more on this topic.

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What to look for in the results

Cleveland-Cliffs’ fourth-quarter results are important for investors for several reasons. The company’s expectations for its fourth quarter were based on YTD third-quarter prices. Due to China’s slowdown and general weakness, US steel prices have seen a significant decline in the fourth quarter. So it will be interesting to see the company’s outlook for 2019.

During its fourth-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.

Series preview

In this series, we’ll see what investors can expect from Cleveland-Cliffs’ fourth-quarter and full-year earnings report. We’ll look at the expectations for the company’s volumes and realized prices for its US (SPY) division. We’ll also discuss the company’s earnings estimates.

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