The financials
Cleveland-Cliffs Inc. by the numbers
Cleveland-Cliffs Inc. (CLF) reported revenue of $5.23B in Q2 2026 (quarter ended Jun 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 Q2 2026 was Hot Rolled Steel at $1.54B, 30.5% of the disclosed total, just ahead of Coated Steel at 30.3%.
| 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 |
|---|---|---|
| Hot Rolled Steel | $1.54B | 30% |
| Coated Steel | $1.53B | 30% |
| Cold Rolled Steel | $660M | 13% |
| Other | $527M | 10% |
| Stainless And Electrical Steel | $525M | 10% |
| Plate Steel | $253M | 5.0% |
| Other Steel Products | $16M | 0.3% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q2 2026Total $5.05B (+6.2%)
Other grew +26% year on yearOther Steel Products -94% year on year
Segment Latestquarter on quarteryear on year
- Hot Rolled Steel$1.54B$1.54BQoQ +9.1%year on year +16%+9.1%+16%
- Coated Steel$1.53B$1.53BQoQ +7.1%year on year +10%+7.1%+10%
- Cold Rolled Steel$660.0M$660.0MQoQ +3.6%year on year +2.3%+3.6%+2.3%
- Other$527.0M$527.0MQoQ +17%year on year +26%+17%+26%
- Stainless And Electrical Steel$525.0M$525.0MQoQ +13%year on year +21%+13%+21%
- Plate Steel$253.0M$253.0MQoQ -0.39%year on year -8.0%-0.39%-8.0%
- Other Steel Products$16.0M$16.0MQoQ -year on year -94%--94%