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What Upside Is Priced into CLF’s Revenue Estimates for Q3 2018?

Annie Gilroy
What Upside Is Priced into CLF’s Revenue Estimates for Q3 2018?

Wall Street analysts expect Cleveland-Cliffs (CLF) to generate revenue of $731 million in the third quarter, which implies a rise of 4.7% YoY (year-over-year). This expectation is the result of the company’s guidance for higher volumes along with higher spot HRC (hot-rolled coil) prices prevailing in the market compared to last year’s corresponding period. As we discussed earlier in this series, CLF expects higher volumes in the third quarter.