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DewDiligence

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DewDiligence

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Re: DewDiligence post# 5346

Thursday, 04/16/2020 10:51:56 PM

Thursday, April 16, 2020 10:51:56 PM

Post# of 9055
Preliminary 1Q20 results—new cost-cutting measures:

http://www.clevelandcliffs.com/English/news-center/news-releases/news-releases-details/2020/Cleveland-Cliffs-Inc-Provides-Company-Update/default.aspx

Highlights:

• Estimated 1Q20 revenue: $345-375M.

• Estimated 1Q20 EBITDA = $15-25M.

• Pellets still being shipped to non-automotive customers.

• Future dividends may be suspended (a regular quarterly dividend was paid yesterday).

• Liquidity in pretty good shape, especially after new $400M bond floatation (announced yesterday, later in the day than this PR).

--
I somehow missed this PR yesterday amid the other fireworks.

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

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