Why Cleveland-Cliffs Stock Is on Fire Today
Cleveland-Cliffs (NYSE: CLF) stock jumped Friday morning, popping 13.7% as of 10:30 a.m. EDT after the steel giant didn't just handily beat analysts' estimates but set itself up for even stronger growth in 2022.
Cleveland-Cliffs delivered an exceptional third-quarter report today. Here are the numbers you must know:
It was, in fact, a record quarter for the company, backed by a more than threefold jump in steel volumes on strong demand from the infrastructure, automotive, and manufacturing sectors. The astounding growth in its top and bottom lines crushed Wall Street estimates that called for revenue worth around $5.6 billion and earnings of $2.26 per share.
Source Fool.com
