Investing.com - Cleveland-Cliffs (NYSE:CLF) reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Cleveland-Cliffs announced earnings per share of $0.35 on revenue of $4B. Analysts polled by Investing.com anticipated EPS of $0.3538 on revenue of $4.21B.
Cleveland-Cliffs shares are up 10% from the beginning of the year, still down 18.19% from its 52 week high of $20.84 set on April 5. They are outperforming the Nasdaq which is up 8.24% from the start of the year.
Cleveland-Cliffs follows other major Basic Materials sector earnings this month
Cleveland-Cliffs's report follows an earnings beat by Dow on Thursday, who reported EPS of $1.36 on revenue of $11.88B, compared to forecasts EPS of $1.1 on revenue of $11.05B.
PPG Industries had beat expectations on April 15 with first quarter EPS of $1.88 on revenue of $3.88B, compared to forecast for EPS of $1.57 on revenue of $3.67B.
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