CLEVELAND-CLIFFS INC.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $18.61B | $19.19B | $22.00B | $22.99B | $20.44B | $5.35B | $1.99B |
| Cost of Revenue | — | $19.47B | $19.12B | $20.62B | $20.47B | $15.91B | $5.10B | $1.41B |
| Gross Profit | — | $-860.0M | $63.0M | $1.37B | $2.52B | $4.53B | $252.0M | $575.7M |
| Gross Margin | — | -4.6% | 0.3% | 6.2% | 11.0% | 22.2% | 4.7% | 28.9% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | $543.0M | $486.0M | $577.0M | $465.0M | $422.0M | $244.0M | $113.0M |
| Operating Income | — | $-1.58B | $-763.0M | $659.0M | $1.94B | $4.01B | $-142.0M | $429.0M |
| Operating Margin | — | -8.5% | -4.0% | 3.0% | 8.4% | 19.6% | -2.7% | 21.6% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | — | $-2.00B | $-950.0M | $579.0M | $1.80B | $3.80B | $-193.0M | $313.0M |
| Income Tax Expense | — | $-581.0M | $-236.0M | $144.0M | $423.0M | $773.0M | $-111.0M | $18.0M |
| Net Income | — | $-1.48B | $-760.0M | $385.0M | $1.34B | $2.99B | $-122.0M | $293.0M |
| Net Margin | — | -7.9% | -4.0% | 1.8% | 5.8% | 14.6% | -2.3% | 14.7% |
| EPS (Basic) | — | $-2.91 | $-1.58 | $0.75 | $2.57 | $5.63 | $-0.32 | $1.06 |
| EPS (Diluted) | — | $-2.91 | $-1.58 | $0.75 | $2.55 | $5.36 | $-0.32 | $1.03 |
| Shares Outstanding (Basic) | 570.4M | 508.0M | 480.0M | 510.0M | 519.0M | 498.0M | 379.0M | 277.0M |
| Shares Outstanding (Diluted) | 570.4M | 508.0M | 480.0M | 511.0M | 524.0M | 558.0M | 379.0M | 284.0M |
| Dividends Per Share | — | — | — | — | — | — | $0.06 | $0.27 |