Filing Flows › Cleveland-Cliffs (CLF) › Q1 2025
Cleveland-Cliffs (CLF) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Cleveland-Cliffs (CLF) reported revenue of $4.6B for the first quarter 2025 (Q1 2025), -11% from a year earlier and +7% from the quarter before. Operating margin was -11.7%, net loss $486M (10.5% of revenue).
Cleveland-Cliffs, Q1 2025: revenue $4.6B (-11% year over year), operating margin -11.7%, net loss $486M, operating cash flow −$351M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6B | +7% | -11% |
| Operating profit | −$543M | — | — |
| Net earnings | −$486M | — | — |
| Operating cash flow | −$351M | — | — |
What changed
Revenue was $4.6B in Q1 2025, down 11% year over year and up 7% from the previous quarter.
Operating costs exceeded revenue by $0.54B, an operating margin of -11.7%. Total costs fell 1% while revenue fell 11%. The quarter ended with a net loss of $0.49B, wider than the previous quarter's $0.43B loss.
Operating cash flow was −$0.35B. Non-cash charges added back $0.28B of depreciation and amortization. Working capital and other items used $0.15B. Capital expenditures of $0.15B exceeded it, leaving free cash flow of −$0.50B.
Questions
What was Cleveland-Cliffs' revenue in the first quarter 2025?
Cleveland-Cliffs (CLF) reported revenue of $4.6B for the first quarter 2025 (Q1 2025), -11% from a year earlier and +7% from the quarter before.
Was Cleveland-Cliffs profitable in the first quarter 2025?
Operating loss was $543M (-11.7% of revenue) and net loss $486M.
Source: Cleveland-Cliffs 10-Q on SEC EDGAR.