Filing Flows › Cleveland-Cliffs (CLF) › Q1 2026
Cleveland-Cliffs (CLF) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 21, 2026
Cleveland-Cliffs (CLF) reported revenue of $4.9B for the first quarter 2026 (Q1 2026), +6% from a year earlier and +14% from the quarter before. Operating margin was -4.3%, net loss $229M (4.7% of revenue).
Cleveland-Cliffs, Q1 2026: revenue $4.9B (+6% year over year), operating margin -4.3%, net loss $229M, operating cash flow −$325M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.9B | +14% | +6% |
| Operating profit | −$213M | — | — |
| Net earnings | −$229M | — | — |
| Operating cash flow | −$325M | — | — |
What changed
Revenue was $4.9B in Q1 2026, up 6% year over year and up 14% from the previous quarter.
Operating costs exceeded revenue by $0.21B, an operating margin of -4.3%. Total costs fell 1% while revenue rose 6%. The quarter ended with a net loss of $0.23B, narrower than the previous quarter's $0.23B loss.
Operating cash flow was −$0.33B. Non-cash charges added back $0.26B of depreciation and amortization. Working capital and other items used $0.35B. Capital expenditures of $0.15B exceeded it, leaving free cash flow of −$0.48B.
Questions
What was Cleveland-Cliffs' revenue in the first quarter 2026?
Cleveland-Cliffs (CLF) reported revenue of $4.9B for the first quarter 2026 (Q1 2026), +6% from a year earlier and +14% from the quarter before.
Was Cleveland-Cliffs profitable in the first quarter 2026?
Operating loss was $213M (-4.3% of revenue) and net loss $229M.
Source: Cleveland-Cliffs 10-Q on SEC EDGAR.