Cleveland-Cliffs is exploding higher following an earnings report released late yesterday that revealed the company's strongest quarter in three years. Investors are reacting positively to the company's return to profitability, with Q3 earnings of $0.28 per share beating consensus estimates of $0.24. The rally is further fueled by an ambitious 2027 outlook, as management projects adjusted EBITDA to exceed $4 billion, citing favorable steel pricing, contract renewals, and the potential benefit of tariffs. While peers like Nucor and Steel Dynamics are seeing only modest gains, Cleveland-Cliffs is significantly outperforming the sector on the back of this improved operational performance and forward-looking guidance.