Cleveland-Cleffs Company (The New York Stock Exchange: CLF) After the company's preliminary performance, the stock transaction was low.
Cleveland-Cliffs predicts that in the fourth quarter of 2024, the volume of steel cargo was 3.8 million tons, with a revenue of approximately US $ 43 billion (consensus of US $ 4.49 billion).
In addition, the company is expected to have a loss of about $ 85 million in EBITDA losses this quarter.
In 2024, steel cargo is expected to reach 15.6 million tons of net tons, with an income of about 19.2 billion US dollars (with street landscapes 19.37 billion US dollars), and the adjusted EBITDA is about $ 775 million.
EBITDA, including Stelco, is expected to be approximately $ 1.2 billion in 2024.
Cleveland-Cliffs attributed its weaker results to the weak demand of the North American automobile sector.
Lourenco GoncalvesThe chairman, president and chief executive of Cliffs, said: "So far, we have seen the improvement of our order books. Whether it is cars and non -automatic dynamics, they have confidence, and they have confidence and one by one. The manufacturing product of the President of Trump will bring great benefits to Cleveland Cleveland-Cliffs. "
"This includes tariffs from Mexico, Canada and China recently announced, and expect more steel. Stelco has been the main contributor since the first day. Based on their experience in sports in the exercise, we expect STELCO to benefit from steel tariffs.
"We praise President Trump to take decisive actions on tariffs. Cleveland-Cliffs believes that tariffs can make the United States a long-term positive impact of manufacturing superpowers."
In addition, Cleveland-Cliffs disclosed that its purpose was to pay $ 750 million in advanced guarantee notes in 2031, but it must abide by market conditions and other factors.
The company plans to use net income for general company purposes, including repaying loans based on its asset -based credit quota.
The company plans to release the results of the fourth quarter and the year of 2024 on February 24, 2025.
Investors can pass SPDR S & P metal and mining ETF (NYSE: XME) and Vaneck Steel ETF (NYSE: SLX).
Price action: CLF stocks fell 2.64 % in the last check to $ 9.97.
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