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Cleveland-Cliffs shares what happened during their earnings call for the third quarter of 2026.

ResultsRead the original at Benzinga
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Cleveland-Cliffs' adjusted EBITDA more than doubled in Q3, and it expects $715 million in Q4. 2027 contract renewals are expected to add over $1 billion in EBITDA. Stelco's galvanized steel market faces limited import quotas, but stronger U.S. prices and output support the broader business.

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The rise came as shipments and selling prices increased and costs improved. Cleveland-Cliffs also expects 2027 contract renewals to add more than $1 billion in adjusted EBITDA. Stelco still faces limited import quotas for galvanized steel. That setback is confined to one Canadian product market, while the reported recovery and stronger U.S. prices support the wider business.

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