Cleveland-Cliffs Inc. Reports Strong Q2 Performance Amid Tariff Benefits
Cleveland-Cliffs Inc., a leading materials company specializing in steel production, has reported a robust second-quarter performance in 2025, surpassing Wall Street expectations. The company’s adjusted earnings per share (EPS) of -$0.50 exceeded estimates of -$0.71, contributing to a rally in its stock price. This positive financial outcome is attributed to a combination of strong U.S. market conditions and the beneficial impact of Trump-era tariffs.
The tariffs have been credited with boosting Cleveland-Cliffs’ Q2 shipments to a record 4.3 million net tons, marking a significant rebound for the company. This surge in shipments has been instrumental in the company’s return to positive EBITDA, a key indicator of financial health. The favorable tariff environment has been a recurring theme, with Cleveland-Cliffs’ CEO acknowledging their role in the company’s Q2 steel rebound.
In response to these positive developments, Cleveland-Cliffs’ stock has seen a notable increase. The company’s shares rose as investors reacted to the better-than-expected earnings report, with the stock climbing 4% in premarket trading. This performance has also contributed to the broader metals sector’s momentum, with the SPDR S&P Metals & Mining ETF experiencing a 15-week winning streak, partly fueled by Cleveland-Cliffs’ success.
Despite the positive earnings report, Cleveland-Cliffs has indicated potential strategic shifts by putting up a “For Sale” sign, signaling possible future changes in its business operations or structure. This move comes as the company continues to navigate the evolving market landscape.
Cleveland-Cliffs is set to host a conference call at 8:30 AM ET on July 21, 2025, to further discuss its Q2 earnings results and provide additional insights into its strategic direction.
As of July 17, 2025, Cleveland-Cliffs’ stock closed at $9.48, with a market capitalization of approximately $4.64 billion. The company’s performance this quarter highlights its resilience and adaptability in a challenging economic environment, underscored by the strategic advantages gained from existing trade policies.