When did Cleveland-Cliffs report Q2 2025 earnings?

Cleveland-Cliffs (CLF) reported Q2 2025 earnings on July 21, 2025 before market open.

What were Cleveland-Cliffs's Q2 2025 revenue and EPS?

Cleveland-Cliffs reported revenue of $4.9B and diluted EPS of $-0.50 for Q2 2025.

Did Cleveland-Cliffs beat estimates in Q2 2025?

Revenue beat the consensus estimate of $4.9B by $38.3M. EPS beat the consensus estimate of $-0.68 by $0.18.

How did Cleveland-Cliffs's Q2 2025 results compare year-over-year?

Compared to the same quarter a year prior, revenue declined 3.1% from $5.1B a year earlier.

Where can I find Cleveland-Cliffs's Q2 2025 SEC filings?

You can read the 10-Q periodic report (0000764065-25-000124) directly on SEC EDGAR. The filing index links above go to sec.gov.

Cleveland-Cliffs CLF Q2 2025 earnings

Reported July 21, 2025 · Before market open

Revenue$4.9BBeat by $38.3M Diluted EPS-$0.50Beat by $0.18

Revenue estimate$4.9B

EPS estimate-$0.68

Next report

Jul 23, 2026 (In 1 week)

Revenue estimate$5.2B

EPS estimate-$0.18

Financials

Q2 2025

Income statement

See full

Revenue$4.9B-3.1%

Gross profit-$209.0M-229%

Operating income-$498.0M-8,400%

Net income-$470.0M-5,322%

EPS (diluted)-$0.97—

Balance sheet

See full

Cash & equivalents$61.0M-44.5%

Total debt$7.7B+120%

Total equity$5.8B-18.2%

Total assets$20.5B+20.9%

Cash flow

See full

Operating cash flow--100%

CapEx$112.0M-28.7%

Free cash flow-$67.0M-119%

Valuation & ratios

Valuation

as of 06/30/25

See full

Market cap$3.55B-51.5%

Enterprise value$11.21B+4.6%

P/S0.2×-0.2×

Profitability

See full

Operating margin-9.6%—

Net margin-8.8%—

FCF margin-8%-14.8pp

Returns & leverage

See full

Return on equity-25.1%—

Debt / equity1.3×+0.8×

Current ratio2×+0.2×

Segments

By product

See full

Coated steel$1.4B-10.0%

Hot-rolled steel$1.3B+19.5%

Cold-rolled steel$645.0M-9.3%

Other$580.0M-4.1%

Stainless and electrical steel$434.0M-9.6%

By segment

See full

Steelmaking$4.8B-2.6%

Other Businesses$163.0M-7.9%

Eliminations-$37.0M-68.2%

By geography

See full

United States$4.0B-8.4%

Canada$517.8M+94.1%

Versus estimates

Revenue

Q1 2026$4.9BBeat by $113.6M Q4 2025$4.3BMiss by $252.4M Q3 2025$4.7BBeat by $76.7M

Q2 2025$4.9BBeat by $38.3M

Q1 2025$4.6BBeat by $3.3M Q4 2024$4.3BMiss by $135.7M

Diluted EPS

Q1 2026-$0.40Beat by $0.04 Q4 2025-$0.43Beat by $0.19 Q3 2025-$0.45Beat by $0.03

Q2 2025-$0.50Beat by $0.18

Q1 2025-$0.92Miss by $0.09 Q4 2024-$0.68Miss by $0.03

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Questions, answered.

When did Cleveland-Cliffs report Q2 2025 earnings?: Cleveland-Cliffs (CLF) reported Q2 2025 earnings on July 21, 2025 before market open.
What were Cleveland-Cliffs's Q2 2025 revenue and EPS?: Cleveland-Cliffs reported revenue of $4.9B and diluted EPS of $-0.50 for Q2 2025.
Did Cleveland-Cliffs beat estimates in Q2 2025?: Revenue beat the consensus estimate of $4.9B by $38.3M. EPS beat the consensus estimate of $-0.68 by $0.18.
How did Cleveland-Cliffs's Q2 2025 results compare year-over-year?: Compared to the same quarter a year prior, revenue declined 3.1% from $5.1B a year earlier.
Where can I find Cleveland-Cliffs's Q2 2025 SEC filings?: You can read the 10-Q periodic report (0000764065-25-000124) directly on SEC EDGAR. The filing index links above go to sec.gov.