Investing.com -- Cleveland-Cliffs Inc (NYSE:CLF) posted a wider-than-expected fourth-quarter loss, also revenue came in below Wall Street estimates, sending its shares down 2.5% in after-hours trading.
The steelmaker reported an adjusted loss per share of $0.68 for the quarter, missing analysts’ expectations of a $0.46 loss. Revenue also fell short at $4.3 billion, compared to the consensus estimate of $4.54 billion.
Cleveland-Cliffs said it expects steel unit cost reductions of around $40 per net ton in 2025 compared to 2024. The company, which now includes Canadian steelmaker Stelco (TSX:STLC) in its outlook, forecast capital expenditures of about $700 million and selling, general, and administrative expenses of roughly $625 million.
The company also projected depreciation, depletion, and amortization of approximately $1.1 billion, along with cash pension and other post-employment benefits (OPEB) payments and contributions of about $150 million for the full year.
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