Cliffs Natural Resources Inc. (NYSE: CLF) reported first-quarter 2016 results before markets opened Thursday. The iron ore and coal miner posted earnings per share (EPS) of $0.62 on revenues of $306 million. In the same period a year ago, the company reported a loss per share of $4.26 on revenues of $446 million. The consensus estimates called for a net loss of $0.10 per share on revenues of $271.8 million.
The company reported net profit of $117 million, compared with a year-earlier loss of $762 million. During the quarter, it recorded a $179 million gain on debt restructuring and extinguishment.
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