-- (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%