Investing.com - Cleveland-Cliffs reported on Friday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Cleveland-Cliffs announced earnings per share of $1.71 on revenue of $5.96B. Analysts polled by Investing.com anticipated EPS of $1.62 on revenue of $5.43B.
Cleveland-Cliffs shares are up 35.88% from the beginning of the year and are trading at $29.58 , down-from-52-week-high.They are outperforming the EUR/USD which is down 0% from the start of the year.
Cleveland-Cliffs follows other major Materials sector earnings this month
Cleveland-Cliffs's report follows an earnings beat by Freeport-McMoran on Thursday, who reported EPS of $1.07 on revenue of $6.6B, compared to forecasts EPS of $0.8823 on revenue of $6.35B.
Dow had beat expectations on Thursday with first quarter EPS of $2.34 on revenue of $15.26B, compared to forecast for EPS of $2.01 on revenue of $14.42B.
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