Cleveland-Cliffs Inc. (NYSE:CLF) Expected to Post Quarterly Sales of $6.14 Billion
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LAST UPDATED ON THURSDAY, JUNE 9, 2022 | 2022 MARKETBEAT
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Cleveland-Cliffs logoEquities research analysts expect Cleveland-Cliffs Inc. (NYSE:CLF - Get Rating) to report $6.14 billion in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Cleveland-Cliffs' earnings, with the lowest sales estimate coming in at $5.88 billion and the highest estimate coming in at $6.29 billion. Cleveland-Cliffs reported sales of $5.05 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 21.6%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.
Is Cleveland-Cliffs Stock a Safe Bet After Earnings?
On average, analysts expect that Cleveland-Cliffs will report full-year sales of $24.24 billion for the current fiscal year, with estimates ranging from $23.32 billion to $25.75 billion. For the next fiscal year, analysts expect that the company will post sales of $20.88 billion, with estimates ranging from $18.71 billion to $23.35 billion. Zacks' sales calculations are an average based on a survey of sell-side research analysts that cover Cleveland-Cliffs.
Cleveland-Cliffs (NYSE:CLF - Get Rating) last released its quarterly earnings data on Friday, April 22nd. The mining company reported $1.71 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.27. Cleveland-Cliffs had a net margin of 16.77% and a return on equity of 78.74%. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the business earned $0.35 earnings per share. Cleveland-Cliffs's revenue was up 47.1% compared to the same quarter last year.
