For the quarter ended December 2022, Cleveland-Cliffs (CLF Quick QuoteCLF - Free Report) reported revenue of $5.04 billion, down 5.7% over the same period last year. EPS came in at -$0.30, compared to $1.78 in the year-ago quarter.

The reported revenue represents a surprise of -5.68% over the Zacks Consensus Estimate of $5.35 billion. With the consensus EPS estimate being -$0.33, the EPS surprise was +9.09%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Cleveland-Cliffs performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenues - Steelmaking: $4.90 billion compared to the $5.16 billion average estimate based on three analysts.
• Revenues - Other Businesses: $142 million compared to the $155.46 million average estimate based on three analysts.
• Adjusted EBITDA - Steelmaking: $109 million versus the three-analyst average estimate of $386.27 million.
• Adjusted EBITDA - Other Businesses: $11 million versus $10.52 million estimated by three analysts on average.
• Adjusted EBITDA - Corporate and Other(Eliminations): $3 million compared to the $13.46 million average estimate based on three analysts.

View all Key Company Metrics for Cleveland-Cliffs here>>>

Shares of Cleveland-Cliffs have returned -2.4% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.