• Cleveland-Cliffs hosted first-quarter 2026 earnings call on April 20 with Chairman, President and CEO Lourenco Goncalves, EVP and CFO Celso Goncalves, Morgan Stanley, B. Riley, Seaport, Goldman Sachs, Jefferies, Bank of America Securities, Wells Fargo.
• Adjusted EBITDA totaled $95 million on shipments of 4,100,000 tons, with management citing an $80 million EBITDA hit from a Q1 energy spike tied to extreme cold.
• Q2 outlook called for selling prices up about $60 per ton versus Q1, shipments above 4,100,000 tons, cost per ton up about $15 due to outages and mix, with Q3 expected to improve further on lower outages and higher utilization.
• Management said final ArcelorMittal Calvert slab shipments ended in Q1, with 175,000 tons shipped as a tail that was described as a drag on results.
• Asset-sale proceeds target of $425 million remained on track, with CEO projecting $50 million in Q2, $100 million in Q3, remainder in Q4.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Cleveland-Cliffs Inc. published the original content used to generate this news brief on April 21, 2026, and is solely responsible for the information contained therein.