CLEVELAND, OH-- Cleveland Cliffs has released its third-quarter 2018 results.
The company reports consolidated revenues of $742 million, compared to last year’s third-quarter consolidated revenues of $597 million. The cost of goods sold was $480 million, compared to $439 million reported in the third quarter of 2017.
For the nine months ended September 30, net income was $519 million, compared to $53 million during the same period in 2017.
U.S. iron ore pellet sales volume in the third quarter of 2018 was 6.5 million long tons. CCI says the 10 percent increase from the third-quarter 2017 volume of 5.9 million long tons was driven primarily by increased customer demand.
