Cleveland-Cliffs Shares Tumble 24% After Q4 Miss, Cuts 2026 Outlook
Cleveland-Cliffs shares plunged 24% after reporting fourth-quarter earnings that missed analyst expectations and issuing guidance cuts for 2026 citing elevated scrap costs and softening steel demand. Investors reacted to the widened margin pressure from rising input expenses and lower volume outlook.
1. Stock Plunge on Earnings Shortfall and Weaker Forecast
Cleveland-Cliffs’ stock fell 24% following a fourth-quarter earnings report that undershot analyst forecasts and a revised 2026 outlook reflecting higher scrap metal costs and reduced steel shipments. The company warned that elevated input prices and sluggish auto and construction demand will weigh on margins.
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