Cliffs Natural Resources is expected to book a narrower loss than a year ago when it reports first-quarter earnings on Tuesday, April 28, 2015. Analysts are expecting a loss of 19 cents per share, up from a loss of 68 cents per share a year ago.
The consensus estimate hasn't changed over the past month, but it's down from three months ago when it was a loss of 18 cents. Analysts are projecting a loss of 26 cents per share for the fiscal year. After being $940 million a year ago, analysts project revenue to drop 40% year-over-year to $562.5 million for the quarter. For the year, revenue is projected to roll in at $2.94 billion.
A year-over-year revenue increase in the fourth quarter came after three straight quarters of falling revenue.
Other companies in the basic materials sector include: Vale and BHP Billiton.
Earnings estimates provided by Zacks.
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