Full-Time
Integrated steel production from ore onward
No salary listed
No H1B Sponsorship
East Chicago, IN, USA
In Person
Relocation assistance may be considered for highly qualified candidates from outside the local area.
Bachelor's
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Cleveland-Cliffs is a vertically integrated steel maker and iron ore producer, the largest flat-rolled steel producer in North America. It controls the full chain from iron ore mining to downstream finishing, processing, and distribution, forming a closed-loop system that secures raw-material supply and tightens cost and quality control. Its products include hot-rolled, cold-rolled, and coated steel, as well as iron ore sold to other steelmakers, with a focus on serving the North American market across automotive, infrastructure, and manufacturing sectors. Unlike many peers, Cleveland-Cliffs differentiates itself through end-to-end integration and a strong regional footprint, enabling customized solutions and reliable supply for its customers. The company aims to maintain material availability, translate supply-chain advantages into stable pricing and quality, and grow its leadership in North American steel production.
Company Size
5,001-10,000
Company Stage
IPO
Headquarters
Cleveland, Ohio
Founded
1847
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401(k) Retirement Plan
Paid Vacation
Education Assistance
Cleveland-Cliffs reported second-quarter revenue of $5.23 billion, up 5.9% year-over-year and beating the consensus estimate of $5.13 billion. The steelmaker posted a loss per share of $0.20, narrower than the $0.50 loss in the year-ago quarter and slightly better than analysts' expectation of a $0.21 loss. External sales volumes totalled 4,025 thousand tonnes, falling short of the 4,105 thousand tonne analyst estimate. However, the average net selling price per tonne of $1,124 exceeded expectations of $1,109.49. Steelmaking revenue reached $5.05 billion, surpassing the $4.99 billion estimate. Stainless and electrical steel revenues jumped 21% to $525 million, whilst hot-rolled steel revenues rose 15.5% to $1.54 billion.
Cleveland-Cliffs reported its Q2 2026 earnings, with EBITDA tripling compared to the previous quarter. Management attributed the performance to automotive volume recovery, footprint optimisation, and the expiration of legacy supply contracts. Automotive shipments reached a two-year high. The company guided Q3 2026 adjusted EBITDA to approximately $575 million, double the Q2 results. Management expects a $500 million year-over-year EBITDA improvement in 2027 from resetting fixed-price contracts at higher market levels. Cleveland-Cliffs targets a leverage ratio below 2.5x by mid-2027, utilising operational cash flow and approximately $400 million in expected property sale proceeds. The company returned to positive free cash flow, supported by an improved product mix. Management is implementing AI-based initiatives with Palantir to optimise mill schedules and reduce downtime.
Cleveland-Cliffs reported adjusted EBITDA of $286 million in Q2, its strongest quarterly result in two years, and returned to positive free cash flow. The steelmaker issued Q3 guidance of approximately $575 million in adjusted EBITDA, which would mark its strongest quarter in three years. The improvement is driven by higher steel prices, improved automotive demand, lower costs and increased shipment volumes. Automotive shipments reached a two-year high during the quarter. CEO Lourenco Goncalves said Q2 results showed "tangible evidence" of the earnings recovery management had forecast, though he noted the quarter "still understates where this company is headed". Debt reduction remains the top capital priority. Cleveland-Cliffs aims to reduce leverage below 2.5 times by this time next year using free cash flow and planned asset-sale proceeds.
Celso Goncalves named Cleveland Cliffs' president, joins board. * Jul 23, 2026 Updated Jul 23, 2026 Cleveland-Cliffs Inc. on July 23 announced that its Board of Directors has promoted Executive Vice President and Chief Financial Officer Celso Goncalves to serve as President and Chief Financial Officer. He also was appointed to the Board of Directors, effective immediately. The appointment marks an important step in the evolution of Cleveland-Cliffs' leadership and reflects the board's confidence in Celso Goncalves' proven leadership, strategic vision and substantial contributions to the company's success, Cliffs said in a news release. As part of this promotion, Lourenco Goncalves, his father, will continue to lead the company as Chairman and Chief Executive Officer, relinquishing the title of President. Celso Goncalves has served as Executive Vice President and Chief Financial Officer since 2021 and has been with the Company since 2016. Prior to joining Cleveland-Cliffs, he held investment banking positions at Deutsche Bank and Jefferies. "During his tenure at Cleveland-Cliffs, Celso has been instrumental in helping transform the company into the largest producer of flat-rolled steel in North America, enhancing financial flexibility, managing capital allocation initiatives and supporting the execution of the company's strategic growth and integration objectives, " said Cliffs' Lead Director Mike Michael. "The board is very pleased to recognize and reward his performance with this well-deserved promotion." "To those following Cliffs for a long time, this appointment should come as no surprise. In his 10 years here, Celso has earned the trust and respect of our board, our management team, our employees, and our investors through his unwavering commitment to Cleveland-Cliffs," added Lourenco Goncalves, Cliffs' Chairman and Chief Executive Officer. "He has been a key architect of every major strategic and financial accomplishment we have achieved over the past decade. His elevation to President and his appointment to our board are natural progressions that recognize both his outstanding performance and his increasing leadership responsibilities across the enterprise. "This appointment also represents the beginning of a thoughtful and deliberate leadership transition toward the future of Cleveland-Cliffs. To be perfectly clear, I remain fully committed to leading this company for years to come. I will continue to drive our strategy and guide Cleveland-Cliffs through our next phase of delivering stronger and more sustainable results. Celso's expanded role positions us exceptionally well for the future, ensuring continuity in the execution of the disciplined strategy that has transformed Cleveland-Cliffs into the industry leader it is today," Lourenco Goncalves concluded. Celso Goncalves earned his Master of Business Administration (M.B.A.) from the Tepper School of Business at Carnegie Mellon University and his Bachelor of Science (B.S.) from the Marshall School of Business at the University of Southern California. He has also passed the FINRA Securities Industry Essentials Exam, FINRA Series 79 Investment Banking Representative Exam, and FINRA Series 63 Uniform Securities Agent State Law Exam. He holds the Certified Treasury Professional (C.T.P.) designation from the Association of Financial Professionals.
Cleveland-Cliffs shares jumped nearly 20% on Thursday after CEO Lourenco Goncalves forecast the company's strongest second-half earnings performance since 2021. The steelmaker reported second-quarter revenue of $5.2 billion, beating estimates of $5.14 billion, with a narrower-than-expected loss of $0.20 per share. Management expects third-quarter EBITDA to more than double compared to the second quarter, with fourth-quarter EBITDA set to exceed that level. The company projects average selling prices to increase by roughly $55 per net ton from second to third quarter, whilst shipments should rise by about 300,000 net tons. Cleveland-Cliffs returned to positive free cash flow in the quarter and has begun reducing debt, targeting leverage below 2.5x by this time next year. The company cited stronger domestic steel demand, lower import competitiveness, and AI-driven operational efficiencies as key tailwinds.