Cleveland-Cliffs stock plunges after Q4 earnings miss

Steel manufacturer eyes 2026 recovery as full-year loss widens

Published on Feb. 9, 2026

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Cleveland-Cliffs (CLF) shares plummeted 19% on Monday after the company reported its fourth quarter results, with revenue falling short of Wall Street estimates. The steel manufacturer's Q4 consolidated revenues were $4.3 billion, roughly in line with the prior-year period, but the company narrowed its net loss.

Why it matters

Cleveland-Cliffs is a major player in the steel industry, and its financial performance is seen as an indicator of broader trends in the sector. The company's struggles highlight the ongoing challenges facing steel manufacturers, including volatile commodity prices and global economic uncertainty.

The details

Cleveland-Cliffs reported Q4 consolidated revenues of $4.3 billion, which was roughly in line with the prior-year period. However, the company narrowed its net loss, signaling continued financial pressure. The stock plunged 19% in Monday's trading following the earnings release.

  • Cleveland-Cliffs reported its Q4 2025 earnings on February 9, 2026.

The players

Cleveland-Cliffs

A major steel manufacturer based in Cleveland, Ohio.

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What’s next

Cleveland-Cliffs has indicated that it is eyeing a recovery in 2026, but the company's path forward will depend on its ability to navigate ongoing industry challenges and market conditions.

The takeaway

The steep drop in Cleveland-Cliffs' stock price following its Q4 earnings report underscores the ongoing volatility and uncertainty facing the steel industry, with the company's struggles serving as a reminder of the broader economic forces impacting the sector.