Analysts Estimate Cleveland-Cliffs (CLF) to Report a Decline in Earnings: What to Look Out for

Core Viewpoint - Cleveland-Cliffs (CLF) is anticipated to report a significant year-over-year decline in earnings due to lower revenues, with a consensus EPS estimate indicating a loss of $0.58 per share, reflecting a -1060$4.31 billion, which is a decrease of 15.6% from the same quarter last year [3]. Estimate Revisions - Over the last 30 days, the consensus EPS estimate has been revised down by 22.93%, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4]. - The Most Accurate Estimate for Cleveland-Cliffs is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -14.45%, which complicates the prediction of an earnings beat [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation of actual earnings from the consensus estimate, with a strong predictive power for positive readings [7][8]. - Cleveland-Cliffs currently holds a Zacks Rank of 5 (Strong Sell), which further diminishes the likelihood of beating the consensus EPS estimate [11]. Historical Performance - In the last reported quarter, Cleveland-Cliffs was expected to post a loss of $0.31 per share but actually reported a loss of$0.33, resulting in a surprise of -6.45% [12]. - Over the past four quarters, the company has only surpassed consensus EPS estimates once [13]. Industry Comparison - Teck Resources Ltd (TECK), another player in the mining industry, is expected to report earnings of $0.22 per share, reflecting a year-over-year decline of -78.4$1.85 billion, down 38.5% from the previous year [17]. - The consensus EPS estimate for Teck Resources has also been revised down by 23.5% in the last 30 days, resulting in an Earnings ESP of -5.33% and a Zacks Rank of 3 (Hold) [18].