The financials
Cleveland-Cliffs Inc. by the numbers
Cleveland-Cliffs Inc. (CLF) reported revenue of $5.23B in Q2 2026 (quarter ended June 30, 2026), up 5.9% from the same quarter a year earlier. That came with a gross margin of 2.5% and net loss of $145M. For the full year FY2025, revenue was $18.6B (−3.0% year on year) and net income −$1.48B. Its largest product in 2026-Q1 was Coated Steel at $1.43B, 30.1% of the disclosed total, just ahead of Hot Rolled Steel at 29.6%.
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $5.23B | $4.93B | +5.9% |
| Gross profit | $132M | −$212M | to a profit |
| Operating income | −$49M | −$501M | n/a |
| Net income | −$145M | −$486M | n/a |
| Diluted EPS | −$0.25 | −$0.98 | n/a |
| Product | Revenue | Share |
|---|---|---|
| Coated Steel | $1.43B | 30% |
| Hot Rolled Steel | $1.41B | 30% |
| Cold Rolled Steel | $637M | 13% |
| Stainless And Electrical Steel | $465M | 9.8% |
| Other | $452M | 9.5% |
| Plate Steel | $254M | 5.3% |
| Slab And Other Steel Products | $108M | 2.3% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q1 2026Total $4.76B (+4.3%)
Hot Rolled Steel grew +21% year on yearSlab And Other Steel Products -56% year on year
Segment Latestquarter on quarteryear on year
- Coated Steel$1.43B$1.43BQoQ -0.76%year on year +5.1%-0.76%+5.1%
- Hot Rolled Steel$1.41B$1.41BQoQ +26%year on year +21%+26%+21%
- Cold Rolled Steel$637.0M$637.0MQoQ +0.16%year on year +7.8%+0.16%+7.8%
- Stainless And Electrical Steel$465.0M$465.0MQoQ -0.21%year on year +4.7%-0.21%+4.7%
- Other$452.0M$452.0MQoQ +12%year on year +10.0%+12%+10.0%
- Plate Steel$254.0M$254.0MQoQ -11%year on year +2.8%-11%+2.8%
- Slab And Other Steel Products$108.0M$108.0MQoQ -47%year on year -56%-47%-56%