Bad Earnings Call

[alpha]

 

CEO of Cleveland-Cliffs had a melt down on recent earnings call, he suggests one analyst should commit suicide. One of the worst calls I've heard in a while :D

 

 

https://www.cnbc.com/video/2018/10/19/ceo-berates-analysts-on-conference-call-you-are-a-disaster--they-will-have-to-commit-suicide.html?__source=cnbcembedplayer

[abitofvalue]

Not hso first rodeo.. check out the call from Jan I think. Not as wild but pretty much called put analysts then too.

 

Interesting shot at TSLA in response to question about him getting on Twitter.

[John Hjorth]

alpha,

 

Are you sure your melt down diagnosis is correct? Your post reads like it could be cerebral hemorrhage too. Both can cause funny talk. [ : - ) ]

[Pelagic]

Don't see it as a meltdown at all. Yes he was a bit harsh but from my understanding of the situation the GS analyst who he called out specifically used an incorrect share count in his earnings target which created the "miss". CLF based their earnings figure on 310M fully diluted shares outstanding whereas GS used 303M non-diluted. The CEO was understandably frustrated with the analyst's inability to check his own work and the market's response to CLF's "miss" which would have actually been a beat by a penny ($.67 vs $.66) if CLF had reported using the same share count. That's my understanding of the situation at least.

 

Listening to the call again, the suicide comment was directed at short sellers in general not the specific analyst from GS. Gonclaves and Musk should do lunch sometime, they can share notes on how to inflict maximum pain on shortsellers.

[Gregmal]

This was epic. Antics aside, Goncalves is the man and the definition of a shareholder friendly CEO. What he's done here is remarkable.