Cleveland-Cliffs Inc. (CLF) released a profit for its second quarter that climbed from the same period last year.
The company’s earnings came in at $165.1 million, or $0.55 per share. This compares with $31.8 million, or $0.10 per share, in last year’s second quarter.
Analysts had expected the company to earn $0.52 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 51.6% to $714.3 million from $471.3 million last year.
Cleveland-Cliffs Inc. earnings at a glance:
-Earnings (Q2): $165.1 Mln. vs. $31.8 Mln. last year.
-EPS (Q2): $0.55 vs. $0.10 last year.
-Analysts Estimate: $0.52
-Revenue (Q2): $714.3 Mln vs. $471.3 Mln last year.
by RTTNews Staff Writer
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