Can 1Q18 Pave the Way for Cleveland-Cliffs Stock to Re-Rate?

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Can 1Q18 Pave the Way for Cleveland-Cliffs Stock to Re-Rate? PART 1 OF 11

What You Can Look Forward to in Cleveland-Cliffs’ 1Q18 Results

Upcoming 1Q18 results

Cleveland-Cliffs (CLF) will release its 1Q18 results before the US market opens on April 20, 2018. It will have a conference call with analysts and investors on the same day at 10:00 AM EST.

What You Can Look Forward to in Cleveland-Cliffs&#8217; 1Q18 Results

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What to look for in the results

Cleveland-Cliffs’ 1Q18 results are important for investors for several reasons. On April 6, 2018, the company announced that it expects to close its Australian operations by June 30, 2018. It will be interesting to see what this exit will mean for Cliffs’ financials going forward.

While the company has already guided for a weaker first quarter due to the usual seasonality and a change in the timing of its revenue recognition, its guidance for the rest of the year will be something to look forward to. Cliffs has started providing EBITDA (earnings before interest, tax, depreciation, and amortization) expectations based on certain variables. Investors will look forward to hearing from the company’s management regarding these variables’ progress year-to-date and expectations going forward.

During the earnings call, Cleveland-Cliffs’ management is expected to provide an update about the HBI (hot briquetted iron) plant and its arrangements to start the project. Cliffs’ management is also expected to address the impact of trade tariffs on steel imports and steel pricing in the United States.

Peers’ results

Nucor (NUE) is scheduled to release its 1Q18 earnings results on April 19, and AK Steel (AKS) and U.S. Steel Corporation (X) are scheduled to release their results on April 30. ArcelorMittal (MT), the world’s biggest steel producer, has scheduled its 1Q18 earnings release date for May 11.

Series preview

In this series, we’ll see what investors can expect from Cleveland-Cliffs’ 1Q18 earnings report. We’ll look at the expectations for the company’s volumes and realized prices for its US and Asia-Pacific divisions. We’ll also discuss earnings estimates for the company.

Let’s start by looking at the expectations for CLF’s US volumes in the next part of this series.


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