We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cliffs Natural Resources Inc. (CLF - Free Report) is a leading mining and natural resources company. Cliffs is the largest producer of iron ore pellets in North America.
Cliffs is focused on deleveraging its balance sheet, improving the cost structure and managing cash efficiently. The company is also expected to gain from an expected rise in steel demand in the U.S.
Let’s have a quick look at the company’s second-quarter 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Cliffs for the second quarter has seen a downtrend over the past month. Cliffs has beaten the Zacks Consensus Estimate in 2 of the trailing 4 quarters, while missing in the other two, with an average miss of around 3.82%.
Cliffs Natural Resources Inc. Price and EPS Surprise
Cliffs’ adjusted earnings came in at 26 cents per share in the second quarter, topping the Zacks Consensus Estimate of earnings of 18 cents.
Revenues
Cliffs reported revenues of $569.3 million, beating the Zacks Consensus Estimate of $483 million.
Key Stats/Developments to Note
For 2017, Cliffs expects to generate net income of around $310 million. The company projects its full-year selling, general and administrative (SG&A) expenses to be around $110 million, an increase from previous expectations to incorporate HBI prefeasibility spend and higher-than-expected incentive compensation accruals.
Cliffs expects its 2017 capital expenditures to be $115 million.
Zacks Rank
Currently, Cliffs has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released.
Market Reaction
Cliffs’ shares were up 5% in the pre-market trading following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Cliffs’ earnings report!
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future. Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Cliffs Natural (CLF) Q2 Earnings & Revenues Beat Estimates
Cliffs Natural Resources Inc. Price and EPS Surprise | Cliffs Natural Resources Inc. Quote