Filing Flows › Cleveland-Cliffs (CLF) › Q3 2026
Cleveland-Cliffs (CLF) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 20, 2026
Cleveland-Cliffs (CLF) reported revenue of $5.6B for the third quarter 2026 (Q3 2026), +19% from a year earlier and +7% from the quarter before. Operating margin was 5.5%, net earnings $152M (2.7% of revenue).
Cleveland-Cliffs, Q3 2026: revenue $5.6B (+18% year over year), operating margin 5.5%, net earnings $152M, operating cash flow $224M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.6B | +7% | +19% |
| Operating profit | $311M | — | — |
| Net earnings | $152M | — | — |
| Operating cash flow | $224M | -3% | — |
| Free cash flow | $72.0M | -1% | — |
What changed
Revenue was $5.6B in Q3 2026, up 19% year over year and up 7% from the previous quarter.
Operating profit was $0.31B, a 5.5% margin (up 9.9 points year over year). Total costs grew 7% against revenue growth of 19%. The fastest-growing cost line was SG&A (+18%). Net earnings were $0.15B. The effective tax rate was 21.8%.
Operating cash flow was $0.22B, 136% of net income including minority interests. Non-cash charges added back $0.26B of depreciation and amortization. Working capital and other items used $0.20B. Capital expenditures of $0.15B left free cash flow of $0.07B.
Questions
What was Cleveland-Cliffs' revenue in the third quarter 2026?
Cleveland-Cliffs (CLF) reported revenue of $5.6B for the third quarter 2026 (Q3 2026), +19% from a year earlier and +7% from the quarter before.
Was Cleveland-Cliffs profitable in the third quarter 2026?
Operating profit was $311M (5.5% of revenue) and net earnings $152M.
Source: Cleveland-Cliffs 10-Q on SEC EDGAR.