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    November 4, 2024

    Cliffs swings to $242M loss in Q3, expects early 2025 demand rebound

    Written by Ethan Bernard

    Cleveland-Cliffs Inc.

    Third quarter ended Sept. 3020242023% Change
    Revenue$4,569$5,605-18.5%
    Net earnings (loss)$(242)$264-191.7%
    Per diluted share$(0.52)$0.52-200%
    Nine months ended Sept. 30
    Revenue$14,860$16,884-12.0%
    Net earnings (loss)$(307)$554-155.4%
    Per diluted share$(0.64)$1.08-159.3%
    (in millions of dollars except per share)

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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