Cliffs Natural Resources announced first-quarter earnings on Thursday, highlighting $940 million in consolidated revenues.
According to Cliffs, the revenues are down 18 percent over the previous year. Cliffs attributed this to significant decreases in market pricing for iron ore and metallurgical coal, along with global iron ore sales volumes which was weather related.
"The first-quarter's winter weather in North America was some of the worst conditions we have experienced in 30 years," said Gary Halverson, Cliffs' President and CEO. "Despite this, we are maintaining our full-year 2014 sales and production volume guidance, as well as our cash-cost outlook in all of our North American business segments."
To view a full break-down of the first-quarter revenue for Cliffs Natural Resources, click here.