Cleveland-Cliffs: 3 Key Takeaways for Long-Term Investors
Key PointsThird-quarter adjusted EBITDA more than doubled sequentially to $612 million.
Cleveland-Cliffs reported strong Q3 2026 earnings, with adjusted EBITDA more than doubling to $612 million. The company's pricing power and supply contracts are driving this growth, potentially adding $1 billion to EBITDA. Management is also pushing back a major maintenance project and selling assets to reduce debt. The company sees a path to over $4 billion in EBITDA by 2027, capitalizing on favorable market conditions and strong domestic demand.
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