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AI brief of an SEC Form 8-K · Cleveland-Cliffs (CLF)

Cleveland-Cliffs Q2 revenue rises to $5.2 billion; net loss narrows to $134 million

Positive Impact 3 of 5 earnings Written later

Cleveland-Cliffs reported second-quarter 2026 results with revenue of $5.2 billion, up from $4.9 billion a year earlier and $4.9 billion in the first quarter. The company still posted a GAAP net loss of $134 million, or $0.25 per diluted share, though that was smaller than the $473 million loss in the year-earlier quarter and the $229 million loss in the first quarter of 2026. The company also expects third-quarter 2026 adjusted EBITDA of approximately $575 million.

Key points

  • Q2 2026 adjusted EBITDA was $286 million, up from $95 million in Q1 2026.
  • GAAP net loss was $134 million ($0.25 per diluted share); adjusted net loss was $115 million ($0.20 per diluted share).
  • Third-quarter 2026 adjusted EBITDA is expected to be approximately $575 million.
  • Full-year 2026 guidance for steel shipments, capital expenditures, SG&A, DD&A and pension payments was maintained; liquidity was $3.1 billion as of June 30, 2026.

The filing

CompanyCleveland-Cliffs (CLF)
Form8-K, current report
Filed with the SECJul 23, 2026, 6:27 AM ET
Accession number0000764065-26-000097

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

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 July 23, 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.