NUE - Cleveland-Cliffs to Report Q1 Earnings: What's in Store? | Benzinga
Cleveland-Cliffs Inc. (NYSE: CLF) is slated to release first-quarter 2024 results after the closing bell on Apr 22.
The company beat the Zacks Consensus Estimate for earnings in three of the last four quarters, while posted in-line result once. It has a trailing four-quarter earnings surprise of roughly 24.7%, on average. Cleveland-Cliffs is likely to have gained from healthy overall volumes, higher selling prices and lower steelmaking unit costs in the first quarter.
The stock has gained 22.4% in a year's time compared with the industry's 2.4% rise.
Image Source: Zacks Investment Research
Let's see how things are shaping up for the upcoming announcement.
Zacks Model
Our proven model predicts an earnings beat for Cleveland-Cliffs this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earning beat.
Earnings ESP: Earnings ESP for Cleveland-Cliffs is +12.00%. The Zacks Consensus Estimate for the first quarter is currently pegged at 19 cents.
Zacks Rank: Cleveland-Cliffs currently carries a Zacks Rank #3.
What do the Estimates Say?
The Zacks Consensus Estimate ...