Filing Flows › Cleveland-Cliffs (CLF) › Q2 2026
Cleveland-Cliffs (CLF) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 23, 2026
Cleveland-Cliffs (CLF) reported revenue of $5.2B for the second quarter 2026 (Q2 2026), +6% from a year earlier and +6% from the quarter before. Operating margin was -0.9%, net loss $134M (2.6% of revenue).
Cleveland-Cliffs, Q2 2026: revenue $5.2B (+6% year over year), operating margin -0.9%, net loss $134M, operating cash flow $230M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.2B | +6% | +6% |
| Operating profit | −$49.0M | — | — |
| Net earnings | −$134M | — | — |
| Operating cash flow | $230M | — | +411% |
| Free cash flow | $73.0M | — | — |
What changed
Revenue was $5.2B in Q2 2026, up 6% year over year and up 6% from the previous quarter.
Operating costs exceeded revenue by $0.05B, an operating margin of -0.9%. Total costs fell 3% while revenue rose 6%. The fastest-growing cost line was SG&A (+12%). The quarter ended with a net loss of $0.13B, narrower than the previous quarter's $0.23B loss. Net interest and other expense of $0.10B was the main reason.
Operating cash flow was $0.23B (up 411% year over year). Non-cash charges added back $0.26B of depreciation and amortization. Working capital and other items added $0.10B. Capital expenditures of $0.16B left free cash flow of $0.07B.
Questions
What was Cleveland-Cliffs' revenue in the second quarter 2026?
Cleveland-Cliffs (CLF) reported revenue of $5.2B for the second quarter 2026 (Q2 2026), +6% from a year earlier and +6% from the quarter before.
Was Cleveland-Cliffs profitable in the second quarter 2026?
Operating loss was $49.0M (-0.9% of revenue) and net loss $134M.
Source: Cleveland-Cliffs 10-Q on SEC EDGAR.