As expected, the company's results were negatively impacted by lower realized iron ore prices. However, Cliffs' cost rationalization efforts helped offset some of the negative effects of a weak commodities pricing environment on the company's results. Cliffs' adjusted EBITDA figure, which excludes the impact of one-time and non-cash items on the company's profits, stood at $65 million in Q2 2015, as compared to $224 million in the corresponding period of 2014. Cliffs changed its reporting struct...
Cliffs' Earnings Review: Lower Iron Ore Prices Negatively Impact Q2 Results
Forbes - 30 Jul 2015 19:46
As expected, the company's results were negatively impacted by lower realized iron ore prices. However, Cliffs' cost rationalization efforts helped offset some of the negative effects of a weak commodities pricing environment on the company's results. Cliffs' adjusted EBITDA figure, which excludes the impact of one-time and non-cash items on the company's profits, stood at $65 million in Q2 2015, as compared to $224 million in the corresponding period of 2014. Cliffs changed its reporting struct...
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