Investing.com - Cleveland-Cliffs reported on Friday third quarter earnings that beat analysts' forecasts and revenue that was inline with expectations.
Cleveland-Cliffs announced earnings per share of $0.04 on revenue of $1.6B. Analysts polled by Investing.com anticipated EPS of $-0.1 on revenue of $1.6B.
Cleveland-Cliffs shares are down 1.55% from the beginning of the year and are trading at $8.50 , down-from-52-week-high.They are under-performing the EUR/USD which is down 0% from the start of the year.
Cleveland-Cliffs shares gained 2.78% in pre-market trade the report.
Cleveland-Cliffs follows other major Basic Materials sector earnings this month
Cleveland-Cliffs's report follows an earnings beat by Dow on Thursday, who reported EPS of $0.5 on revenue of $9.71B, compared to forecasts EPS of $0.29 on revenue of $9.4B.
PPG Industries had beat expectations on Monday with third quarter EPS of $1.93 on revenue of $3.69B, compared to forecast for EPS of $1.76 on revenue of $3.64B.
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