Steel Mills
July 22, 2021
Cleveland-Cliffs Sets All-Time Quarterly Records in Q2
Written by Tim Triplett
Cleveland-Cliffs Inc. reported the best quarterly results in the company’s history with net income of $795 million on revenues of $5.0 billion in the second quarter. That’s a huge turnaround from the pandemic-plagued quarter last year when the company lost $108 million on revenues of just $1.1 billion.
“In the second quarter of 2021, we achieved all-time quarterly records in revenue, net income and adjusted EBITDA. The numbers unequivocally confirm our efficiency in operating the new footprint, resulting from the integration of the two major steel companies acquired in 2020 as a single and indivisible mining and steel company,” said Cliffs Chairman, President and CEO Lourenco Goncalves.
