mens timberland sandals Cliffs reports growth in 2017
MARQUETTE Cleveland Cliffs Inc. on Thursday reported its fourth quarter and full year results for 2017, which includes higher consolidated revenues and net income than the prior year.
The company recorded consolidated revenues of $2.3 billion and a net income of $371 million, or $1.28 per diluted share, according to a press release. That higher than 2016 figures of $2.1 billion in consolidated revenues and a net income of $199 million, or 87 cents per share.
2017 fourth quarter consolidated revenues were $601 million, down slightly from 2016 fourth quarter figure of $754 million. However, 2017 recorded net income of $318 million was higher than the same time period in 2016, which was $81 million.
delivered in 2017 strong and sustainable financial results, and that was exactly what I promised one year ago,
Lourenco Goncalves, Cliffs chairman, president and CEO, said in the release. a consequence of the several successful initiatives implemented in overall strategy, commercial, operations and finance since I joined this great company in August of 2014, we have delivered in 2017 the second consecutive year of greater than 25 percent EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) growth. 2017 was also the year in which the industry finally woke up to the importance of both rational supply behavior and environmental compliance. This new,
more logical approach to business should provide us solid support to deliver even stronger results in 2018.