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Earnings Preview · Friday, April 17, 2026

Apr 17, 2026 · 08:25 PM ET

# Victory Lane Earnings Preview

CLF — Cleveland-Cliffs Inc

Earnings Date: Monday, April 20, 2026 at 6:00 AM ET (before market)

Consensus Estimates: EPS loss of $0.40 per share on revenue of $4.86 billion

Whisper Number: Loss of $0.28 per share (more optimistic than consensus)

Revenue Growth: 5.0% year-over-year growth expected

Investor Sentiment: 31.5% bearish heading into earnings

Options Activity: Market pricing in 12.9% move versus 13.5% historical average move - slightly below typical volatility expectations

The whisper number suggests potential for a beat relative to the already-low consensus bar, with options traders expecting a more muted reaction than recent quarters have delivered.

1.3x
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