MTAL - Cleveland-Cliffs Freeport-McMoRan Report Q1 Results; Worthington Steel Gets GM Supplier Of The Year And More: Tuesday's Top Mining Stories | Benzinga
Top Stories for April 23, 2024:
- Cleveland-Cliffs Inc (NYSE:CLF) reported first-quarter results, including revenue of $5.2 billion, a net loss of $53 million and adjusted net income of $87 million.
Adjusted EBITDA reached $414 million, marking a significant year-over-year and quarter-over-quarter improvement.
The company announced the completion of a previous $1 billion share repurchase program, having bought back 30.4 million shares. It also introduced a new $1.5 billion share buyback initiative.
Steel shipments totaled 3.9 million net tons and the firm retired all remaining secured notes to enhance its liquidity position, which stood at $4 billion at the end of March 2024.
- Freeport-McMoRan Inc (NYSE:FCX) reported strong first-quarter 2024 results with copper sales and unit net cash costs surpassing estimates from January 2024 and the first quarter of 2023.
Net income reached ...