Last year reported on 11/14. Based on what was discussed on the Q2 CC there should be a nice upward spike in the iron ore revenue. From what I've seen every company that has recently reported EPS and has iron ore operations has had an upside surprise. One example is CLF. Hopefully we will have an update on Pea Ridge as well.
Cliffs' 3Q results look good for helping boost MFC's earnings and outlook. From Zacks 10/25 press release:
Eastern Canadian Iron Ore: Sales volumes in the reported quarter rose 9% year over year to 2.6 million tons. The higher sales volume was due to higher product sales from Wabush Mine due to the timing of vessel shipments. Revenues per ton for the segment leapt 3% year over year to $109.52 due to a 17% increase in seaborne iron ore pricing. Cash cost per ton decreased 6% to $99.96.
Outlook: Cliffs expects healthy pace of steelmaking in China to support demand for its iron ore across its Eastern Canada and Asia Pacific businesses. The company expects healthy demand for U.S. ore and North American coal despite weak steel production in North America. It expects pricing of its commodities to remain volatile.
U.S. Iron Ore Outlook: Cliffs reiterated its sales and production volume guidance of 21 million tons and 20 million tons, respectively for 2013. Cash cost guidance was maintained in the range of $65-$70 per ton. Cliffs expects to sell 22 - 23 million tons in 2014.
Eastern Canadian Iron Ore Outlook: The company increased its guidance for sales and production volume to 8.5-9 million tons from its previous expectation of 8-9 million tons. Cliffs expects to sell about 1.5 million tons of iron ore pellets from its Eastern Canadian Iron Ore segment, with iron ore concentrate sales making up the remainder of the expected full-year sales volume range. Cliffs maintained its full-year 2013 cash cost per ton guidance of $100-$105.