When did Cleveland-Cliffs report Q3 2025 earnings?

Cleveland-Cliffs (CLF) reported Q3 2025 earnings on October 20, 2025 before market open.

What were Cleveland-Cliffs's Q3 2025 revenue and EPS?

Cleveland-Cliffs reported revenue of $4.7B and diluted EPS of $-0.45 for Q3 2025.

Did Cleveland-Cliffs beat estimates in Q3 2025?

Revenue beat the consensus estimate of $4.7B by $76.7M. EPS beat the consensus estimate of $-0.48 by $0.03.

How did Cleveland-Cliffs's Q3 2025 results compare year-over-year?

Compared to the same quarter a year prior, revenue grew 3.6% from $4.6B a year earlier and diluted EPS declined 36.4% from $-0.33.

Where can I find Cleveland-Cliffs's Q3 2025 SEC filings?

You can read the 10-Q periodic report (0000764065-25-000149) directly on SEC EDGAR. The filing index links above go to sec.gov.

Cleveland-Cliffs CLF Q3 2025 earnings

Reported October 20, 2025 · Before market open

Revenue$4.7BBeat by $76.7M Diluted EPS-$0.45Beat by $0.03

Revenue estimate$4.7B

EPS estimate-$0.48

Next report

Jul 23, 2026 (In 1 week)

Revenue estimate$5.2B

EPS estimate-$0.18

Financials

Q3 2025

Income statement

See full

Revenue$4.7B+3.6%

Gross profit-$46.0M+56.6%

Operating income-$204.0M+21.8%

Net income-$234.0M-0.9%

EPS (diluted)-$0.51+1.9%

Balance sheet

See full

Cash & equivalents$66.0M+69.2%

Total debt$8.0B+113%

Total equity$5.5B-20.3%

Total assets$20.3B+20.8%

Cash flow

See full

Operating cash flow-$143.0M—

CapEx$157.0M+4.0%

Free cash flow-$300.0M-27.7%

Valuation & ratios

Valuation

as of 09/30/25

See full

Market cap$6.04B+1.0%

Enterprise value$14.01B+44.2%

P/S0.3×0.0×

Profitability

See full

Operating margin-9.2%—

Net margin-8.7%—

FCF margin-8.3%-11.2pp

Returns & leverage

See full

Return on equity-26.4%—

Debt / equity1.5×+0.9×

Current ratio2×+0.2×

Segments

By product

See full

Coated steel$1.4B+4.7%

Hot-rolled steel$1.1B+11.9%

Cold-rolled steel$636.0M-5.2%

Other$578.0M+4.0%

Stainless and electrical steel$466.0M+3.8%

By segment

See full

Steelmaking$4.6B+3.3%

Other Businesses$173.0M+15.3%

Eliminations-$24.0M-20.0%

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 Q3 2025 earnings?: Cleveland-Cliffs (CLF) reported Q3 2025 earnings on October 20, 2025 before market open.
What were Cleveland-Cliffs's Q3 2025 revenue and EPS?: Cleveland-Cliffs reported revenue of $4.7B and diluted EPS of $-0.45 for Q3 2025.
Did Cleveland-Cliffs beat estimates in Q3 2025?: Revenue beat the consensus estimate of $4.7B by $76.7M. EPS beat the consensus estimate of $-0.48 by $0.03.
How did Cleveland-Cliffs's Q3 2025 results compare year-over-year?: Compared to the same quarter a year prior, revenue grew 3.6% from $4.6B a year earlier and diluted EPS declined 36.4% from $-0.33.
Where can I find Cleveland-Cliffs's Q3 2025 SEC filings?: You can read the 10-Q periodic report (0000764065-25-000149) directly on SEC EDGAR. The filing index links above go to sec.gov.