CLEVELAND, OH— Cleveland Cliffs is reporting $20.4 billion in full-year 2021 revenues.
That’s compared to the previous year’s consolidated revenues of $5.3 billion. CCI generated net income of $3 billion in 2021, compared to a net loss of $81 million in 2020.
In the fourth quarter of 2021, CCI reports consolidated revenues were $5.3 billion, compared to prior-year fourth-quarter consolidated revenues of $2.3 billion.
And the Cliffs Board of Directors has authorized a new share repurchase program for the Company to buy back its outstanding common shares. Under the program CCI will buy up to a maximum of $1 billion worth of shares via acquisitions in the open market or privately negotiated transactions.
