CLEVELAND, OH — The road to financial recovery continues to trend in the right direction for Cliffs Natural Resources.
The company recorded consolidated revenues of $569 million for the second quarter of 2017. That’s a 15% increase compared to last year.
Cliffs reported a net income of $77 million, up $47 million from twenty 2016. U.S. Iron Ore pellet sales were also up 4% this quarter, coming in at 4.3 million long tons.
The price per long run was also up 6%.
Cliffs CEO Lourenco Goncalves said in a statement, “Our second quarter results clearly demonstrate the true power of our U.S. Iron Ore business.”
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