Cleveland-Cliffs Reports $1.4 Billion Annual Loss Amid Stagnant 2025 Revenues

Key Facts

1Cleveland-Cliffs reported a GAAP net loss of $235 million for the fourth quarter of 2025.

2Full-year net loss reached approximately $1.4 billion on revenues of $18.6 billion.

3Fourth-quarter revenue remained essentially unchanged year-over-year at $4.3 billion.

Cleveland-Cliffs (CLF) reported disappointing financial results for the fourth quarter and full year 2025, highlighting significant operational headwinds. The company posted a GAAP net loss of $235 million for the final quarter, contributing to a substantial full-year deficit. Total annual net losses reached approximately $1.4 billion, even as the firm generated $18.6 billion in total revenue. Fourth-quarter revenue remained essentially flat year-over-year at $4.3 billion, indicating a lack of growth momentum. These results stem from a difficult environment within the broader steel industry and various internal operational challenges faced throughout the year. The combination of heavy losses and stagnant top-line growth signals fundamental weakness that may weigh on investor sentiment and the stock's performance.