Cleveland-Cliffs made $74 million in profit in the fourth quarter, or 14 cents per share.
That compared to $63 million in net income or 23 cents per share in the same quarter a year earlier.
The Cleveland-based steelmaker, which has swollen in size due to its acquisitions of ArcelorMittal USA and AK Steel, brought in $2.3 billion in revenue in the fourth quarter, as compared to $534 million in revenue in the fourth quarter of 2019. The company pulled in $286 million in earnings before interest, taxes, depreciation and amortization, up from $111 million in EBITDA at the same time the previous year.
âOur strong fourth-quarter results offer just a sample of what we expect to accomplish in 2021, when we will show the full magnitude of the ArcelorMittal USA acquisition as well as the added contribution from our state-of-the-art direct reduction plant, Chairman, President and CEO Lourenco Goncalves said. The integration of the ArcelorMittal USA assets into our portfolio is going
Great Lakes Winter Commerce Act, bipartisan legislation that will codify the U.S. Coast Guard’s icebreaking mission on the Great Lakes and increase the icebreaking capacity of the Great Lakes fleet. Icebreaking is critical for commerce in the Great Lakes, and increasing icebreaking capacity will help the many businesses and workers that rely on the maritime industry to transport their goods to market and grow our regional economy.
“Inadequate icebreaking capacity in the Great Lakes is costing us thousands of American jobs and millions in business revenue. We must boost our icebreaking capacity in the Great Lakes to keep our maritime commerce moving,”
WARREN A Newcomerstown woman has filed a wrongful death suit on behalf of the estate of her late husband against the operators of the Warren coke plant, cla