Cliffs reports a good second quarter, predicts more of the same. Shares up on big volume this morning.* Earnings per share from continuing operations increases 171 percent to $0.76 per share.* U.S. Iron Ore realized revenue rate increases 16 percent to $113 per long ton.* Full-year U.S. Iron Ore pellet sales volume expectation increases to 21 million long tons.Lourenco Goncalves, Cleveland-Cliffs' Chairman, President and Chief Executive Officer, said, “Our second quarter is a definitive statement about the new Cliffs and our earnings power. After almost four years of consistent execution of a well-designed and thoroughly implemented strategy, our company has become a very powerful cash-generating enterprise. With the announced sale of the Asia Pacific Iron Ore segment, we have now completed our multi-year transformation back to our roots as a supplier of high-grade iron units to the Great Lakes steel industry. <snip>Going forward, we expect 2019 to be a continuation of a great 2018https://finance.yahoo.com/news/cleveland-cliffs-inc-reports-...
Company initiates a 5¢ quarterly dividend beginning in January, 2019, and announces a $200 million buyback.
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