Cleveland-Cliffs Posts Q3 Net Loss of $234 Million on $4.7 Billion Revenue
Reuters
Oct 20, 2025
Cleveland-Cliffs Posts Q3 Net Loss of $234 Million on $4.7 Billion Revenue
Cleveland-Cliffs Inc. reported third-quarter results for the period ended September 30, 2025. The company recorded steel shipments of 4.0 million net tons and revenues of $4.7 billion, compared to $4.9 billion in the previous quarter. The GAAP net loss for the quarter was $234 million, while the adjusted net loss was $223 million. Adjusted EBITDA was $143 million, up from $94 million in the second quarter. As of September 30, 2025, total liquidity was $3.1 billion. The company updated its full-year 2025 guidance for capital expenditures to approximately $525 million and selling, general and administrative expenses to approximately $550 million.
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