Story perspectives

Cleveland-Cliffs Sees $3 Billion Revenue Drop in 2024

2/28/2025

50 9

Summary

Story summary

Cleveland-Cliffs reported 2024 revenues of $19.2 billion, a decline of nearly $3 billion from 2023 due to falling steel prices.
Q4 2024 revenue reached $4.33 billion, reflecting a 15.4% year-over-year decrease, with an EPS of -$0.68.
Steelmaking revenues dropped 15.9% to $4.17 billion, falling short of analyst expectations.
Despite a 6.5% stock gain over the past month, the company holds a Zacks Rank #4 (Sell).
Cleveland-Cliffs operates primarily in the U.S. steel industry.

1 of 1

Story summary

Cleveland-Cliffs reported 2024 revenues of $19.2 billion, a decline of nearly $3 billion from 2023 due to falling steel prices.
Q4 2024 revenue reached $4.33 billion, reflecting a 15.4% year-over-year decrease, with an EPS of -$0.68.
Steelmaking revenues dropped 15.9% to $4.17 billion, falling short of analyst expectations.
Despite a 6.5% stock gain over the past month, the company holds a Zacks Rank #4 (Sell).
Cleveland-Cliffs operates primarily in the U.S. steel industry.