CLEVELAND, OH— Cleveland-Cliffs’ second quarter revenues edged down slightly from the first quarter of the year, from $5.2 to $5.1 billion.
Net income was reported at $9 million and adjusted net income was $50 million. Second-quarter adjusted EBITDA was $323 million, compared to $414 million in the first quarter of the year.
As of June 30, Cliffs’ long-term debt was $3.5 billion and net debt was
$3.4 billion, following a net debt reduction of $237 million over the quarter.
CCI ended the second quarter of 2024 with total liquidity of $3.7 billion.
