Cleveland-Cliffs (CLF) stock soared 5.17% in pre-market trading on Monday following the release of its second-quarter 2025 earnings report, which exceeded analysts' expectations. The U.S. steelmaker reported a smaller-than-anticipated loss and showed signs of operational improvements, boosting investor confidence.

The company posted an adjusted net loss of $247 million, or $0.50 per share, significantly better than the analysts' estimates of a $0.74 per share loss. While revenues fell to $4.93 billion from $5.10 billion last year, they were in line with market expectations. Notably, Cleveland-Cliffs achieved record steel shipments of 4.3 million net tons and reduced its steel unit costs by $15 per net ton compared to the first quarter.

CEO Lourenco Goncalves provided an optimistic outlook, stating, "Domestic steel pricing remains strong, we have visibility into our cost reductions, and our order book remains healthy." He also highlighted the positive impact of tariffs on domestic manufacturing, suggesting potential for further growth. The company's focus on optimizing its footprint and leveraging its assets in key markets like automotive, electrical steels, stainless, and plate is expected to strengthen its position in the U.S. market. With a solid liquidity position of $2.7 billion as of June 30, 2025, Cleveland-Cliffs appears well-positioned to navigate future challenges and capitalize on growth opportunities.