Cleveland-Cliffs (CLF) Operating Expenses (2009 - 2026)
Cleveland-Cliffs (CLF) posted quarterly Operating Expenses of $5.3 billion for Q2 2026, down 2.94% year-over-year from $5.4 billion in Q2 2025, and up 2.73% quarter-over-quarter from $5.1 billion in Q1 2026.
Cleveland-Cliffs (CLF) Operating Expenses (2009 - 2026) Analysis & Trends
Cleveland-Cliffs (CLF) has reported Operating Expenses for 18 consecutive years, with $5.3 billion the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Expenses fell 2.94% year-over-year to $5.3 billion; the TTM figure through Jun 2026 stood at $20.0 billion (down 1.16% YoY), while the FY2025 annual figure was $20.2 billion, up 1.21% from the prior year.
- Operating Expenses improved to $5.3 billion in Q2 2026 per CLF's latest filing, from $5.1 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $5.5 billion in Q2 2023 and bottomed at $4.6 billion in Q4 2025.
- Historically, Operating Expenses has averaged $5.2 billion across 5 years, with a median of $5.2 billion in 2022.
- Annual changes were most pronounced in 2022 — Operating Expenses jumped 38.19% — and 2024, when it declined 8.52%.
- Cleveland-Cliffs' Operating Expenses stood at $5.2 billion in 2022, then climbed by 0.08% to $5.2 billion in 2023, then declined by 8.41% to $4.8 billion in 2024, then decreased by 3.05% to $4.6 billion in 2025, then rose by 13.59% to $5.3 billion in 2026.
- Business Quant data shows CLF's Operating Expenses at $5.3 billion in Q2 2026, $5.1 billion in Q1 2026, and $4.6 billion in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Ternium | 106.22 Bn | 96.33 Bn | 941.02 Mn | -427.76 Mn |
| 2 | Nucor | 55.03 Bn | 52.34 Bn | 2.03 Bn | 405.00 Mn |
| 3 | ArcelorMittal | 54.04 Bn | 49.19 Bn | - | -780.00 Mn |
| 4 | Steel Dynamics | 31.61 Bn | 31.03 Bn | 958.97 Mn | 193.45 Mn |
| 5 | Reliance | 19.53 Bn | 19.29 Bn | 1.30 Bn | 4.19 Bn |
| 6 | Cleveland-Cliffs | 6.15 Bn | 6.08 Bn | 132.00 Mn | 5.28 Bn |
| 7 | Gerdau | 5.42 Bn | 4.28 Bn | 558.98 Mn | -64.82 Mn |
| 8 | GRUPO SIMEC, S.A.B. de C.V | 4.56 Bn | 3.00 Bn | - | - |
| 9 | Posco Holdings | 4.34 Bn | 1.84 Bn | 1.04 Bn | -65.40 Mn |
| 10 | Worthington Steel | 1.70 Bn | 1.61 Bn | 118.80 Mn | 81.10 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 5.28 Bn |
| Mar 31, 2026 | 5.14 Bn |
| Dec 31, 2025 | 4.64 Bn |
| Sep 30, 2025 | 4.94 Bn |
| Jun 30, 2025 | 5.44 Bn |
| Mar 31, 2025 | 5.17 Bn |
| Dec 31, 2024 | 4.79 Bn |
| Sep 30, 2024 | 4.83 Bn |
| Jun 30, 2024 | 5.09 Bn |
| Mar 31, 2024 | 5.24 Bn |
| Dec 31, 2023 | 5.23 Bn |
| Sep 30, 2023 | 5.28 Bn |
| Jun 30, 2023 | 5.50 Bn |
| Mar 31, 2023 | 5.33 Bn |
| Dec 31, 2022 | 5.23 Bn |
| Sep 30, 2022 | 5.47 Bn |
| Jun 30, 2022 | 5.50 Bn |
| Mar 31, 2022 | 4.86 Bn |
| Dec 31, 2021 | 4.23 Bn |
| Sep 30, 2021 | 4.36 Bn |