(RTTNews) - Cleveland-Cliffs Inc. (CLF) reported a first quarter GAAP net loss of $229 million, or $0.42 per diluted share, compared to a net loss of $486 million, or $1.01 per diluted share, a year ago. Adjusted net loss was $0.40 per diluted share compared to a loss of $0.93 per diluted share.
Adjusted EBITDA was $95 million, which included an $80 million negative one-time impact due to a cold-weather driven energy price spike. This is compared to an adjusted EBITDA loss of $179 million, last year. First-quarter consolidated revenues were $4.9 billion, compared to $4.6 billion, a year ago. Steel shipments were 4.1 million net tons, for the quarter.
For 2026, the company maintained its steel shipment volume guidance at approximately 16.5-17.0 million net tons.
Shares of Cleveland-Cliffs are up 2.16% to $10.16 in pre-market trade on Monday.
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