Cleveland-Cliffs Ranked #170 on Fortune 500 list for 2023
June 05 2023 - 11:23AM
Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it
was named to the Fortune 500 list, once again among the top 200
companies. Cleveland-Cliffs’ 2022 revenue of $23 billion earned
Cleveland-Cliffs the ranking of 170 on the list for 2023. The
Fortune 500 list ranks companies that are incorporated and operate
in the U.S. by total revenues for their respective fiscal
years.
Lourenco Goncalves, Cleveland-Cliffs’ Chairman, President, and
CEO said, “Once again, Cleveland-Cliffs is among the top 200
companies on Fortune list, at this time as #170. As we grow and
climb higher on Fortune’s rank, we continue to demonstrate our
ability to outperform ourselves year after year.” Mr. Goncalves
added: “The main key to our success is our workforce of 27,000
employees, and we thank each one of our employees for their great
work and their sense of common purpose. We also thank our Union
partners for working hard with us to make Cleveland-Cliffs the
great company we are today and will certainly be in the
future.”
To view Cleveland-Cliffs’ company profile on Fortune 500 and the
interview with Lourenco Goncalves done by the CEO of Fortune, Alan
Murray, please visit the website at
https://fortune.com/company/cleveland-cliffs/.
FORTUNE 500 Methodology:
Companies are ranked by total revenues for their respective
fiscal years. Included in the survey are companies that are
incorporated in the U.S. and operate in the U.S. and file financial
statements with a government agency. This includes private
companies and cooperatives that file a 10-K or a comparable
financial statement with a government agency, and mutual insurance
companies that file with state regulators. It also includes
companies that file with a government agency but are owned by
private companies, domestic or foreign, that do not file such
financial statements. Excluded are private companies not filing
with a government agency; companies incorporated outside the U.S.;
and U.S. companies consolidated by other companies, domestic or
foreign, that file with a government agency. Also excluded are
companies that failed to report full financial statements for at
least three-quarters of the current fiscal year. Percent change
calculations for revenue, net income, and earnings per share are
based on data as originally reported. They are not restated for
mergers, acquisitions, or accounting changes. The only changes to
the prior years’ data are for significant restatement due to
reporting errors that require a company to file an amended
10-K.
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in
North America. Founded in 1847 as a mine operator, Cliffs also is
the largest manufacturer of iron ore pellets in North America. The
Company is vertically integrated from mined raw materials, direct
reduced iron, and ferrous scrap to primary steelmaking and
downstream finishing, stamping, tooling, and tubing.
Cleveland-Cliffs is the largest supplier of steel to the automotive
industry in North America and serves a diverse range of other
markets due to its comprehensive offering of flat-rolled steel
products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs
employs approximately 27,000 people across its operations in the
United States and Canada.
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MEDIA CONTACT: Patricia Persico Senior Director,
Corporate Communications (216) 694-5316
INVESTOR CONTACT: James Kerr Manager, Investor Relations
(216) 694-7719
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