Cleveland-Cliffs Inc. (NYSE:CLF) experienced a significant pre-market plunge of 5.50% following the release of its fourth-quarter 2025 financial results.
The steel producer reported quarterly revenue of $4.313 billion, which fell short of the analyst consensus estimate of $4.585 billion. While the company's adjusted loss per share of $0.43 beat expectations of a $0.60 loss, the revenue miss appears to be the primary driver behind the stock's negative reaction.
CEO Lourenco Goncalves attributed the company's 2025 performance to weak production levels in the automotive sector, the value-destructive final year of an expiring five-year slab contract, and newly adverse dynamics in the Canadian market.