Which Victor are you talking about, the electronic, the basic or the power trap? Has to be the basic from long ago...
Profit or Prophet? As you posted makes absolutely no sense. One would think someone that has deep ties in the religion would know the difference on that one or is you postings just smoke and mirrors?
The difference is between GAAP and NON GAAP numbers. The NON GAAP removes the gains from buying back bonds at a discount. What I find interesting is that when CLF takes an impairment charge, Yahoo will report the GAAP earnings that reduces earnings. But when they take a GAAP earnings that includes the gains from buying bonds at a discount, they report the NON GAAP numbers that remove the gain.
Joe, you also need to factor in the discounted price CLF can buy back bonds at, you are using face value. Also you can factor in that if they get their debt down to $1 billion, they can issue new bonds to pay off any bond that is due or they can use their revolving credit line.
Ca, you are right on CLF's contract prices. However, with the price of iron ore going up, that will help future contracts.
jk, remember all those asset write downs? The tax advantage on all of those that are amortized forward will pay the majority of that debt by 2021. The rest will come from asset sales and other savings.
Thanks again for this information, good to have before I head out the door.
Yesterday's action was a great move off of earnings with many new investors picking up shares leaving shorts with fewer shares to cover with. Now we should see a massive short squeeze with iron ore prices going up.
I agree, expect earnings to be zero but the guidance to be very positive with the increase in iron ore and steel prices. Plus the planned debt reduction from asset sales. LG could detail their debt reduction to $1 billion would be huge. Bottom line will be the company is on stable ground.