Cleveland-Cliffs CLF Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| Eliminations | -$42M-100% | -$21M+12.5% | -$24M+35.1% | -$37M-32.1% | -$28M-21.7% | |
| Other Businesses | $167M+5.0% | $159M-8.1% | $173M+6.1% | $163M+0.6% | $162M+3.2% | |
| Steelmaking | $4.8B+14.9% | $4.18B-8.9% | $4.59B-4.6% | $4.81B+7.0% | $4.5B+7.3% | |
| Segment Reporting, Other Segment Item, Amount by Business | ||||||
| Eliminations | $0— | $0— | $0— | $0— | $0— | |
| Other Businesses | $2M+100% | $1M— | $0— | $0— | $0-100% | |
| Steelmaking | -$23M-130% | -$10M+61.5% | -$26M-471% | $7M-36.4% | $11M— | |
| Total Assets by Business | ||||||
| Other Businesses | $603M+1.2% | $596M-4.9% | $627M+0.6% | $623M-2.0% | $636M+2.6% | |
| Steelmaking | $19.51B+0.5% | $19.42B-1.3% | $19.66B-0.9% | $19.85B-1.7% | $20.2B-0.6% | |
| Cost of Product and Service Sold by Business | ||||||
| Eliminations | -$42M-100% | -$21M+19.2% | -$26M+25.7% | -$35M-25.0% | -$28M-16.7% | |
| Other Businesses | $154M+6.2% | $145M-11.0% | $163M+10.9% | $147M-3.9% | $153M+2.7% | |
| Steelmaking | $4.89B+11.3% | $4.4B-5.3% | $4.64B-7.7% | $5.03B+2.7% | $4.9B+9.5% | |
| Adjusted EBITDA by Business | ||||||
| Eliminations | $0— | $0-100% | $2M+200% | -$2M— | $0-100% | |
| Other Businesses | $15M0.0% | $15M+25.0% | $12M-25.0% | $16M+60.0% | $10M0.0% | |
| Steelmaking | $80M+322% | -$36M-128% | $129M+55.4% | $83M+144% | -$189M— | |
| Selling, General and Administrative Expense by Business | ||||||
| Eliminations | $0— | $0— | $0— | $0— | $0— | |
| Other Businesses | $8M+14.3% | $7M0.0% | $7M0.0% | $7M0.0% | $7M-12.5% | |
| Steelmaking | $117M-14.6% | $137M+11.4% | $123M-5.4% | $130M+3.2% | $126M-3.8% | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit) by Business | ||||||
| Eliminations | $0— | $0— | $0— | $0— | $0— | |
| Other Businesses | $0— | $0— | $0— | $0— | $0— | |
| Steelmaking | -$64M+3.0% | -$66M-15.8% | -$57M-32.6% | -$43M+24.6% | -$57M+9.5% | |
| Depreciation, depletion and amortization by Business | ||||||
| Eliminations | $0— | $0— | $0— | $0— | $0— | |
| Other Businesses | $8M+14.3% | $7M-22.2% | $9M+28.6% | $7M-12.5% | $8M0.0% | |
| Steelmaking | $251M-5.3% | $265M-5.0% | $279M-27.7% | $386M+40.9% | $274M+9.6% | |
| Foreign currency translation by Business | ||||||
| Other Businesses | $0— | $0— | $0— | $0— | $0— | |
| Steelmaking | -$14M-256% | $9M0.0% | $9M0.0% | $9M0.0% | $9M+257% | |
| Capital additions by Business | ||||||
| Eliminations | $0— | $0— | $0— | $0— | $0— | |
| Other Businesses | $2M— | $0-100% | $2M0.0% | $2M-66.7% | $6M+200% | |
| Steelmaking | $124M-35.4% | $192M-6.3% | $205M+36.7% | $150M+22.0% | $123M-52.3% | |
| Goodwill by Business | ||||||
| Other Businesses | $49M0.0% | $49M0.0% | $49M0.0% | $49M0.0% | $49M0.0% | |
| Steelmaking | $1.75B-0.8% | $1.77B+1.0% | $1.75B-1.0% | $1.77B+2.7% | $1.72B-0.1% | |
| Revenue by Product | ||||||
| Coated steel | $1.43B+15.8% | $1.24B-14.3% | $1.44B+3.6% | $1.39B+2.3% | $1.36B+10.9% | |
| Cold-rolled steel | $637M+20.2% | $530M-16.7% | $636M-1.4% | $645M+9.1% | $591M+1.7% | |
| Hot-rolled steel | $1.41B+22.6% | $1.15B+2.5% | $1.12B-15.8% | $1.33B+14.2% | $1.17B+13.2% | |
| Other | $617M+8.6% | $568M-1.7% | $578M-0.3% | $580M+1.2% | $573M-2.7% | |
| Other steel products | $108M— | —— | $204M-26.1% | $276M+11.7% | $247M— | |
| Plate steel | $254M— | —— | $286M+4.0% | $275M+11.3% | $247M— | |
| Stainless and electrical steel | $465M+15.1% | $404M-13.3% | $466M+7.4% | $434M-2.3% | $444M+6.5% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Cleveland-Cliffs break its business down?
- Cleveland-Cliffs (CLF) reports revenue by business across 3 parts — Eliminations, Other Businesses and Steelmaking. Each is extracted from the segment footnotes and tracked over time.
- Where does Cleveland-Cliffs's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Cleveland-Cliffs's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
