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Cleveland-Cliffs CLF Steelmaking — Selling, General and Administrative Expense

Other segment segments

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$7M0.0%
Eliminations
$0

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Other financials

Income statement

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Revenue$5.2B+5.9%
Gross profit$132.0M+162%
Operating income-$49.0M+90.2%
Net income-$134.0M+71.7%
EPS (diluted)-$0.25+74.5%

Balance sheet

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Cash & equivalents$70.0M+14.8%
Total debt$7.7B-0.3%
Total equity$5.6B-3.7%
Total assets$20.1B-1.7%

Cash flow

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Operating cash flow-$325.0M+7.4%
CapEx$157.0M+40.2%
Free cash flow-$477.0M+5.2%

Valuation

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Market cap$7.22B+55.7%
Enterprise value$14.85B+20.7%
P/S0.4×+0.1×

Profitability

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Gross margin-1.1%
Operating margin-4.2%-1.5pp
Net margin-4.3%-1.5pp
FCF margin-5.3%-0.3pp

Returns & leverage

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Return on equity-14.6%-4.3pp
Debt / equity1.4×0.0×
Current ratio1.9×-0.2×

Where this comes from

Reported directly by Cleveland-Cliffs in its filing.

Tagged under the XBRL concept us-gaap:SellingGeneralAndAdministrativeExpense.

The source filing: Cleveland-Cliffs’s 10-Q, filed July 23, 2026.

Filed
Jul 23, 2026, 4:08 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000764065-26-000100
(In millions)SteelmakingOther BusinessesEliminationsTotal
Revenues$5,096$177$(47)$5,226
Cost of goods sold(4,983)(158)47(5,094)
Selling, general and administrative expenses(147)(7)(154)
Net periodic benefit credits other than service cost component6464
Excluding depreciation, depletion and amortization2548262
Other segment items1(16)(2)(18)
Total Adjusted EBITDA$268$18$286
Interest expense, net(156)

ITEM 1. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Cleveland-Cliffs's steelmaking — selling, general and administrative expense?
Cleveland-Cliffs (CLF) reported steelmaking — selling, general and administrative expense of $147M in Q2 2026.
How has Cleveland-Cliffs's steelmaking — selling, general and administrative expense changed year-over-year?
Cleveland-Cliffs's steelmaking — selling, general and administrative expense increased by 13.1% year-over-year, from $130M to $147M.
What is the long-term trend for Cleveland-Cliffs's steelmaking — selling, general and administrative expense?
Over 3 years (2022 to 2025), Cleveland-Cliffs's steelmaking — selling, general and administrative expense has grown at a 5.5% compound annual growth rate (CAGR), from $439M to $516M.
What does steelmaking — selling, general and administrative expense mean?
Captures the indirect costs required to operate the steelmaking segment, including administrative salaries, marketing, and corporate overhead allocations. It serves as a measure of the segment's operational discipline and the scalability of its management structure.

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