Monitor for follow-on orders or contract expansions under this DR-GOES program, which could signal deeper DoD reliance on domestic electric steel production and increase revenue visibility.
Price Chart
Executive Summary
Cleveland-Cliffs Inc., through its subsidiary Cliffs Steel Inc, was awarded a $99.99 million Department of Defense contract for Domain Refined Grain Oriented Electric Steel (DR-GOES). The award represents approximately 0.51% of the company's annualized revenue of $19.6 billion, a modest but notable addition to its government business.
Key Financial Metrics
Key Facts
- Award amount: $99,990,000
- Awarding agency: Department of Defense
- Contract for Domain Refined Grain Oriented Electric Steel (DR-GOES)
- Period of performance starts 2026-07-01
- Award represents ~0.51% of annualized revenue ($19.6B)
Financial Impact
$99.99 million contract award, approximately 0.51% of annualized revenue
Risk Factors
- Contract size is small relative to total revenue, limiting material impact
- Government contracts may carry execution, funding, or renegotiation risks
Investment Themes
Documents Analyzed
This report is based on 1 federal contract record from official U.S. government contract data.
| Document | Accession Number |
|---|---|
| GOVT-CONTRACT Data (Synthetic) | contract-SP800026F0033 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | Institutional Cluster | $14.03 $13.05 | ▲ +6.99% | ▲ +5.80% | $13.38 (+4.63%) |
Oct 19, 2026 8d ago | 8-K | $14.10 $13.65 | ▼ −3.19% | ▼ −3.53% | $13.38 (−5.11%) |
Oct 6, 2026 20d ago | ANALYST-UPGRADE | $12.25 $12.06 | ▼ −1.55% | ▼ −1.31% | $13.38 (+9.22%) |
Jul 24, 2026 13w ago | ANALYST-UPGRADE | $11.93 $12.25 | ▲ +2.68% | ▲ +2.66% | $13.38 (+12.15%) |
Jul 23, 2026 13w ago | 8-K | $10.96 $11.93 | ▲ +8.85% | ▲ +8.75% | $13.38 (+22.08%) |
Jul 1, 2026 16w ago | GOVT-CONTRACT | $9.86 $9.77 | ▼ −0.91% | ▼ −1.79% | $13.38 (+35.70%) |
Jun 22, 2026 18w ago | ANALYST-DOWNGRADE | $11.89 $11.16 | ▲ +6.14% | ▲ +4.69% | $13.38 (−12.53%) |
Jun 12, 2026 19w ago | Institutional Cluster | $13.78 $13.63 | ▼ −1.09% | ▼ −2.85% | $13.38 (−2.90%) |
Jun 11, 2026 19w ago | Institutional Cluster | $13.71 $13.78 | ▲ +0.51% | ▼ −0.03% | $13.38 (−2.41%) |
Jun 9, 2026 19w ago | ANALYST-UPGRADE | $12.72 $12.41 | ▼ −2.44% | ▼ −0.86% | $13.38 (+5.19%) |
US Market Status
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