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Update: Cleveland-Cliffs Shares Fall After Company Reports Q1 Results

-- (Updates with the latest stock move in the headline and in the first paragraph, capital expenditure outlook in the sixth paragraph)

Cleveland-Cliffs (CLF) shares were down 6.9% in early Monday trading after the steel producer reported its first-quarter results.

The company posted a quarterly adjusted net loss of $0.40 per diluted share, narrowing from a loss of $0.93 a year earlier.

Analysts polled by FactSet expected a loss of $0.43.

Revenue for the quarter ended March 31 was $4.92 billion, up from $4.63 billion a year earlier.

Analysts surveyed by FactSet expected $4.81 billion.

The company said it maintained its expectation for 2026 capital expenditures of about $700 million. Four analysts polled by FactSet expect $705 million.

Price: $9.20, Change: $-0.74, Percent Change: -7.44%

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