Cleveland-Cliffs Inc. revenue by segment CLF

Annual Quarterly

Cleveland-Cliffs Inc. splits its revenue 2 ways in its filings. By operating segments, the largest line in Q3 of fiscal 2026, the quarter ended Sep 30, 2026 was Steelmaking at $5.5 billion, 98% of the total. By sales mix, the largest line in Q3 of fiscal 2026, the quarter ended Sep 30, 2026 was Hot Rolled Steel at $1.7 billion, 31% of the total.

USD in millions. The percent under a figure is the change from the same quarter a year earlier.

Line	TTM Sep 30, 2026	Q3 FY2026 Sep 30, 2026	Q2 FY2026 Jun 30, 2026	Q1 FY2026 Mar 31, 2026	Q4 FY2025 Dec 31, 2025	Q3 FY2025 Sep 30, 2025	Q2 FY2025 Jun 30, 2025	Q1 FY2025 Mar 31, 2025	Q4 FY2024 Dec 31, 2024
Revenue	20,073	5,612	5,226	4,922	4,313	4,734	4,934	4,629	4,325
Operating segments
Steelmaking	19,560 +8.2% share 97.4%	5,492 +19.8% share 97.9%	5,096 +6.0% share 97.5%	4,797 +6.7% share 97.5%	4,175 -2.0% share 96.8%	4,585 share 96.9%	4,808 share 97.4%	4,495 share 97.1%	4,259 share 98.5%
Other Businesses	672 +2.6% share 3.3%	169 -2.3% share 3.0%	177 +8.6% share 3.4%	167 +3.1% share 3.4%	159 +1.3% share 3.7%	173 share 3.7%	163 share 3.3%	162 share 3.5%	157 share 3.6%
Eliminations	-159 -42.0% share -0.8%	-49 -104.2% share -0.9%	-47 -27.0% share -0.9%	-42 -50.0% share -0.9%	-21 +8.7% share -0.5%	-24 share -0.5%	-37 share -0.7%	-28 share -0.6%	-23 share -0.5%
Sales mix
Hot Rolled Steel	—	1,749 +55.9% share 31.2%	1,539 +15.5% share 29.4%	1,410 +20.9% share 28.6%	1,150 +11.7% share 26.7%	1,122 share 23.7%	1,332 share 27.0%	1,166 share 25.2%	1,030 share 23.8%
Coated Steel	—	1,652 +14.6% share 29.4%	1,532 +10.1% share 29.3%	1,431 +5.1% share 29.1%	1,236 +0.7% share 28.7%	1,442 share 30.5%	1,392 share 28.2%	1,361 share 29.4%	1,227 share 28.4%
Cold Rolled Steel	—	704 +10.7% share 12.5%	660 +2.3% share 12.6%	637 +7.8% share 12.9%	530 -8.8% share 12.3%	636 share 13.4%	645 share 13.1%	591 share 12.8%	581 share 13.4%
Other	—	561 +38.5% share 10.0%	527 +26.4% share 10.1%	452 +10.0% share 9.2%	409 -5.3% share 9.5%	405 share 8.6%	417 share 8.5%	411 share 8.9%	432 share 10.0%
Stainless And Electrical Steel	—	514 +10.3% share 9.2%	525 +21.0% share 10.0%	465 +4.7% share 9.4%	404 -3.1% share 9.4%	466 share 9.8%	434 share 8.8%	444 share 9.6%	417 share 9.6%
Plate Steel	—	267 -6.6% share 4.8%	253 -8.0% share 4.8%	254 +2.8% share 5.2%	—	286 share 6.0%	275 share 5.6%	247 share 5.3%	—

How these figures are calculated

Quarterly columns are single-quarter amounts. When a 10-Q reports only a year-to-date total, as cash flow statements do, the quarter is that total minus the previous quarter's year-to-date total. The fourth quarter is the annual report's full year minus the first nine months. A column marked YTD is a year-to-date total, shown when the earlier report needed for the single quarter is missing. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. The first column adds the latest year-to-date segment amount to the last fiscal year and subtracts the year-ago year-to-date amount. More on our methodology.

Company profile

Industry: Metal Mining (SIC 1000)
Listed as: CLF (NYSE)
Fiscal year ends: December 31
Incorporated in: OH
Headquarters: Cleveland, OH
SEC filer status: Large accelerated filer
SEC CIK: 764065
Former names: CLIFFS NATURAL RESOURCES INC. (until Aug 14, 2017); CLEVELAND CLIFFS INC (until Oct 15, 2008)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.