Investing.com - Cleveland-Cliffs reported on Thursday fourth quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Cleveland-Cliffs announced earnings per share of $0.24 on revenue of $2.26B. Analysts polled by Investing.com anticipated EPS of $0.1987 on revenue of $2.33B.
Cleveland-Cliffs shares are up 16.07% from the beginning of the year and are trading at $16.45 , down-from-52-week-high.They are outperforming the EUR/USD which is down 0% from the start of the year.
Cleveland-Cliffs shares lost 2.66% 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 Sherwin-Williams on Thursday, January 28, 2021, who reported EPS of $5.09 on revenue of $4.49B, compared to forecasts EPS of $4.85 on revenue of $4.34B.
Air Products had missed expectations on Thursday, February 4, 2021 with first quarter EPS of $2.12 on revenue of $2.38B, compared to forecast for EPS of $2.18 on revenue of $2.35B.
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