Cleveland-Cliffs posts $235 million Q4 net loss; full-year loss widens to $1.4 billion
Cleveland-Cliffs reported a fourth-quarter 2025 GAAP net loss of $235 million, or $0.44 per diluted share, narrower than the $434 million loss a year earlier. For full-year 2025, the net loss widened to $1.4 billion from $714 million in 2024, and revenue fell to $18.6 billion from $19.2 billion. The company also gave 2026 expectations and said it is targeting a definitive agreement with POSCO in the first half of 2026.
Key points
- Q4 2025 GAAP net loss of $235 million, or $0.44 per diluted share, versus $434 million, or $0.92 per diluted share, in Q4 2024
- Q4 2025 revenues of $4.3 billion, flat with the prior-year fourth quarter
- Full-year 2025 GAAP net loss of $1.4 billion, or $2.91 per diluted share, versus $714 million, or $1.58 per diluted share, in 2024
- Company is targeting a definitive agreement with POSCO in the first half of 2026
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:59 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 09, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.