EX-99.1 2 clf-202509308xkex991.htm EX-99.1 Document EXHIBIT 99.1 NEWS RELEASE Cleveland-Cliffs Reports Third-Quarter 2025 Results CLEVELAND - October 20, 2025 - Cleveland-Cliffs Inc. (NYSE: CLF) today reported third-quarter results for the period ended September 30, 2025. Third-Quarter Consolidated Results • Steel shipments of 4.0 million net tons • Revenues of $4.7 billion • GAAP net loss of $234 million and Adjusted net loss1 of $223 million, or $0.45 per diluted share • Adjusted EBITDA2 of $143 million • Liquidity of $3.1 billion as of September 30, 2025 Third-quarter 2025 consolidated revenues were $4.7 billion, compared to $4.9 billion in the second quarter of 2025. For the third quarter of 2025, the Company recorded a GAAP net loss of $234 million and adjusted net loss1 of $223 million, or $0.45 per diluted share. This compares to a second quarter 2025 GAAP net loss of $473 million and adjusted net loss1 of $250 million, or $0.51 per diluted share. For the third quarter of 2025, the Company reported Adjusted EBITDA2 of $143 million, compared to the Adjusted EBITDA2 of $94 million recorded in the second quarter of 2025. Cliffs’ Chairman, President and CEO, Lou…
Open exhibit ↗Current Report · Items 2.02, 9.01 · 8-K
Cleveland-Cliffs Inc.
CLFNYSEEQUITYCurrent
Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On October 20, 2025, Cleveland-Cliffs Inc. issued a news release announcing the third-quarter financial results for the quarter ended September 30, 2025. A copy of the news release is attached as Exhibit 99.1 to this Current Report on Form 8-K.…
Company context
Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated from the mining of iron ore, production of pellets and direct reduced iron, and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 25,000 people across its operations in the United States and Canada.