AP NEWS

Cleveland-Cliffs: 3Q Earnings Snapshot

October 23, 2019 GMT

CLEVELAND (AP) _ Cleveland-Cliffs Inc. (CLF) on Wednesday reported third-quarter earnings of $90.9 million.

The Cleveland-based company said it had profit of 33 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The mining company posted revenue of $555.6 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $565.4 million.

Cleveland-Cliffs shares have dropped 7% since the beginning of the year. The stock has fallen 37% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CLF at https://www.zacks.com/ap/CLF