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DewDiligence

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DewDiligence

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Re: DewDiligence post# 14612

Thursday, 04/27/2017 11:41:35 AM

Thursday, April 27, 2017 11:41:35 AM

Post# of 29252
CLF -12% on 1Q17 results—but full-year results will be solid, according to CEO:

http://finance.yahoo.com/news/cliffs-natural-resources-inc-reports-120000383.html

On the CC, LG chided analysts for having too high a forecast for 1Q17. During 1Q17 (when the Great Lakes were mostly closed to shipping), a large proportion of CLF's reported USIO revenue came from 2016 "carryover" sales at $55/ton, which is considerably lower than the USIO price CLF is realizing in 2017.

LG expects $200M of EBITDA during 2Q17 and $700M for the full year (down from the prior guidance of $850M).

See #msg-130862367 for additional details.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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