CLEVELAND (AP) — CLEVELAND (AP) — Cleveland-Cliffs Inc. (CLF) on Monday reported a loss of $242 million in its third quarter.
The Cleveland-based company said it had a loss of 52 cents per share. Losses, adjusted for one-time gains and costs, were 33 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.
The mining company posted revenue of $4.57 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $4.75 billion.
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