Stelco posts its strongest quarterly performance since Cleveland-Cliffs acquired the company, according to coverage that also notes ongoing workforce reductions. BNN Bloomberg says the results are the best since the takeover, while the Winnipeg Free Press links the same quarter update to layoffs.
Quartz adds financial detail from Cleveland-Cliffs’ reporting, saying the parent company beats profit estimates and that adjusted EBITDA reaches $612 million. Quartz also reports Cleveland-Cliffs forecasts fourth-quarter adjusted EBITDA near $715 million and says it is idling galvanizing lines at Stelco, pointing to production and cost actions alongside the restructuring and staffing moves mentioned by other outlets.
