Investing.com - Cleveland-Cliffs reported on Friday second quarter earnings that matched analysts' forecasts and revenue that topped expectations.
Cleveland-Cliffs announced earnings per share of $1.31 on revenue of $6.34B. Analysts polled by Investing.com anticipated EPS of $1.31 on revenue of $6.08B.
Cleveland-Cliffs shares are down 21.27% from the beginning of the year and are trading at $17.14 , down-from-52-week-high.They are under-performing the EUR/USD which is down 0% from the start of the year.
Cleveland-Cliffs follows other major Materials sector earnings this month
Cleveland-Cliffs's report follows an earnings missed by Freeport-McMoran on Thursday, who reported EPS of $0.58 on revenue of $5.42B, compared to forecasts EPS of $0.7033 on revenue of $6.24B.
Dow had beat expectations on Thursday with second quarter EPS of $2.31 on revenue of $15.66B, compared to forecast for EPS of $2.14 on revenue of $15.54B.
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