Cleveland-Cliffs Inc. Reports Advance In Q3 Profit, Beats estimates

(RTTNews) - Cleveland-Cliffs Inc. (CLF) reported earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $264 million, or $0.52 per share. This compares with $152 million, or $0.29 per share, in last year's third quarter.

Analysts on average had expected the company to earn $0.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.7% to $5.61 billion from $5.65 billion last year.

Cleveland-Cliffs Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $264 Mln. vs. $152 Mln. last year. -EPS (Q3): $0.52 vs. $0.29 last year. -Analyst Estimate: $0.43 -Revenue (Q3): $5.61 Bln vs. $5.65 Bln last year.