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BRIEF-Cliffs Natural Q4 adjusted EPS $0.42 from continuing operations
February 9, 2017 / 1:22 PM / 10 months ago

BRIEF-Cliffs Natural Q4 adjusted EPS $0.42 from continuing operations

Feb 9 (Reuters) - Cliffs Natural Resources Inc

* Cliffs natural resources inc - in 2017, cliffs expects to generate $510 million of net income and $850 million of adjusted ebitda

* Cliffs natural resources inc. Reports fourth-quarter and full-year 2016 results

* Q4 revenue $754 million versus i/b/e/s view $675.2 million

* Q4 adjusted earnings per share $0.42 from continuing operations

* Q4 earnings per share view $0.23 -- Thomson Reuters I/B/E/S

* Cliffs natural - for 2017, cliffs expects full-year sales and production volumes of approximately 19 million long tons from its u.s. Iron ore business

* Cliffs natural resources inc - u.s. Iron ore pellet sales volume in q4 of 2016 was 6.9 million long tons, a 53 percent increase

* Cliffs natural resources inc - cliffs’ full-year 2017 asia pacific iron ore expected sales and production volume is approximately 11.5 million tons

* Cliffs natural resources inc - fourth-quarter 2016 asia pacific iron ore sales volume of 2.9 million metric tons increased 1 percent from prior-year quarter

* Cliffs natural resources inc - full-year 2017 u.s. Iron ore cash cost of goods sold and operating expense expectation is $55 - $60 per long ton

* Cliffs natural resources inc - full-year 2017 product mix for asia pacific iron ore is expected to contain 50 percent lump ore and 50 percent fines

* Cliffs natural resources inc - expects full-year 2017 capital expenditures to be $105 million

* Cliffs natural-will no longer separate cash cost of goods sold, operating expense rate into “cash production cost per ton”, “non-production cash cost per ton”

* Cliffs natural resources inc - “underlying business environment was far from ideal during almost all of 2016”

* Cliffs natural resources inc - in future quarters, cliffs anticipates continuing to update 2017 net income and adjusted ebitda guidance Source text for Eikon: Further company coverage:

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