Cleveland-Cliffs Proposes to Acquire U.S. Steel    View News Release USW Endorsement Letter Investor Presentation Steelworkers Reiterate Vow to Only Back Cliffs in US Steel Deal  USW Rights Explained

Third Quarter 2023 Earnings Conference Call

October 24, 2023 - 8:30 am ET

Learn More Webcast

Cleveland-Cliffs Proposes to Acquire U.S. Steel

News Release USW Endorsement Letter Investor Presentation USW Rights Explained


Letters of Correspondence

July 28, 2023: Initial Offer Letter from Lourenco Goncalves to David Sutherland and David Burritt August 7, 2023: Response Letter from David Burritt to Lourenco Goncalves August 11, 2023: Proposal Clarification Letter from Lourenco Goncalves to David Sutherland and David Burritt August 13, 2023: Rejection Letter from David Burritt to Lourenco Goncalves August 15, 2023: Path Forward Letter from Lourenco Goncalves to David Sutherland and David Burritt August 16, 2023: David Burritt Response to Lourenco Goncalves’ Path Forward Letter August 22, 2023: Notice Under USW Agreement from Lourenco Goncalves to David Burritt

Latest Results

Q2 2023

Quarter Ended Jun 30, 2023

$6.0B

Second-quarter 2023 consolidated revenues were $6.0 billion, compared to $5.3 billion the first quarter of 2023.

$775M

Second-quarter 2023 Adjusted EBITDA* was $775 million, compared to $243 million in the first quarter of 2023.

Source: 10-Q 2023 Q2 & Q2 earnings release

For complete information regarding our financials, see our periodic filings

Latest Annual Filing

For Fiscal Year Ending Dec 31, 2022

Report Links

View 10-K
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About Cleveland-Cliffs

Cleveland-Cliffs is the largest flat-rolled steel producer in North America and a leading supplier of automotive-grade steel. The Company is vertically integrated, from raw materials and scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. The Company serves a diverse range of markets due to its comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 27,000 people across its mining, steel and downstream manufacturing operations in the United States and Canada.

Cleveland-Cliffs received several prestigious industry awards for its performance.

View company profile

Cleveland-Cliffs at a Glance

27K

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

56

Operating Facilities

As of Dec. 31, 2022 • 10-K 2022

Cleveland-Cliffs Company Performance in FY 2022

Total Revenue

In millions

Revenues by Product Line

  • Coated: 31%
  • Hot-rolled: 20%
  • Cold-rolled: 14%
  • Stainless/Electrical: 10%
  • Plate: 8%
  • Slabs and Other Steel Products: 7%
  • Other: 10%

Revenue by Market

  • Automotive: 30%
  • Distributors and Converters: 29%
  • Infrastructure and Manufacturing: 26%
  • Steel Producers: 15%

As of Dec. 31, 2022 • 10-K 2022
For complete information regarding our financials, see our periodic filings.

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
Manager, 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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