Cleveland-Cliffs Reports Full-Year and Fourth-Quarter 2024 Results

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Latest Financial Results

Feb 24, 2025 • 4:30 PM EST

Full-Year and Fourth-Quarter 2024 Results

Fiscal Year Ended Dec 31, 2024

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$19.2B

Full-year 2024 consolidated revenues were $19.2 billion.

$1.2B

Full-year 2024 Pro Forma Combined Adjusted EBITDA was $1.2 billion.

Source: Fourth-Quarter 2024 Earnings Release

For complete information regarding our financials, see our periodic filings

Latest Results

Full-Year and Fourth-Quarter 2024 Results

Fiscal Year Ended Dec 31, 2024

$19.2B

Full-year 2024 consolidated revenues were $19.2 billion.

$1.2B

Full-year 2024 Pro Forma Combined Adjusted EBITDA was $1.2 billion.

Source: Fourth-Quarter 2024 Earnings Release

For complete information regarding our financials, see our periodic filings

Latest Annual Filing

For Fiscal Year Ending Dec 31, 2024

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About Cleveland-Cliffs

Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated from the mining of iron ore, production of pellets and direct reduced iron, and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 30,000 people across its operations in the United States and Canada.

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Cleveland-Cliffs at a Glance

30K

Employees across our mining, scrap, steel, and downstream manufacturing operations in the U.S. and Canada.

70

Approximate Operating Facilities

As of Dec. 31, 2024 • Fourth-Quarter 2024 Earnings Release

Cleveland-Cliffs Company Performance in FY 2024

Total Steel Shipments

Net Tons (Millions)

Revenues by Product Line

  • Coated: 29%
  • Cold-rolled: 16%
  • Plate: 5%
  • Hot-rolled: 36%
  • Stainless/Electrical: 3%
  • Other, including Slabs and Rail: 11%

Revenue by Market

  • Direct Automotive: 30%
  • Infrastructure and Manufacturing: 28%
  • Distributors and Converters: 29%
  • Steel Producers: 13%

As of Dec. 31, 2024 • Fourth-Quarter 2024 Earnings Release

Learn More About Cleveland-Cliffs

Best-in-Class Steelmaking

Best-in-Class Steelmaking

Following the acquisitions of ArcelorMittal USA and AK Steel in 2020, we are a different company.  We have transformed into a vertically integrated high-value steel enterprise. We prioritize value over volume. We have the unique advantage of being self-sufficient, beginning with the extraction of raw materials through the manufacturing of steel products, including stamping, tooling and tubing. Our size and scale provide us flexibility to best serve our customers.   
Creating Innovative Steel Solutions

Creating Innovative Steel Solutions

We now have a world-class research and development team expanding our capabilities to bring new steel products to the marketplace. Our broad product mix includes carbon, stainless, electrical, and third-generation advanced high-strength carbon and specialty steels serving all major markets.
Supplying High-value Steel Across North America

Supplying High-value Steel Across North America

Our competitive advantage in an increasingly quality-focused marketplace strengthens our position in important U.S. markets such as construction, appliances, infrastructure, machinery, equipment, and automotive steel.
Producing Clean Steel

Producing Clean Steel

We have a long history of providing a safe workplace, striving to be good stewards of the environment, and establishing strong and respectful relationships with our communities. Our commitment to sustainability is core to our values and business operations and it extends to our partnerships with stakeholders.

IR Contacts

Corporate Office

Cleveland-Cliffs Inc.
200 Public Square
Suite 3300
Cleveland, OH 44114
T: (216) 694-5700
info@clevelandcliffs.com

Investor Relations

Paul Finan
Senior Vice President of Finance

James Kerr
Director, Investor Relations
ir@clevelandcliffs.com

Transfer Agent

Broadridge Corporate Issuer Solutions
P.O. Box 1342
Brentwood, NY 11717
T: 303-562-9695
shareholder@broadridge.com
https://shareholder.broadridge.com/clf/

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