Cleveland-cliffs reports first-quarter 2024 results and announces new $1.5 billion share repurchase program

Cleveland--(business wire)--cleveland-cliffs inc. (nyse: clf) today reported first-quarter results for the period ended march 31, 2024. first quarter 2024 highlights repurchased 30.4 million shares, or 6% of total outstanding revenues of $5.2 billion steel shipments of 3.9 million net tons gaap net loss of $53 million and adjusted net income1 of $87 million adjusted eps1 of $0.18 per diluted share adjusted ebitda2 of $414 million 70% adjusted ebitda2 improvement year-over-year and 48% increase.
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