Cleveland-Cliffs CEO Lourenco Goncalves doubled-down on his attack of Wall Street analysts, saying during an interview with CNBC's "Closing Bell" on Friday he would "absolutely" talk this way to them again.
"Oh yeah, absolutely...when you're not the CEO of Facebook, Google or Tesla, being on CNBC at 3 p.m. is a big accomplishment," Goncalves said.
Earlier on Friday, Goncalves ripped Wall Street analysts in a rant during his company's third-quarter conference call, especially targeting Goldman Sachs' Matthew Korn. The CEO questioned Korn for saying Cleveland-Cliffs had a "slight" miss on its operating results, even though the company reported an increase in profit and improving revenue. After seeing Korn's report, Goncalves went after Korn, saying "you can run but you can't hide."
"It's totally unacceptable that a Goldman Sachs analyst has a bad math and puts out a paper before the call – before the call – calling a miss when it's not a miss," Goncalves said on Closing Bell.
Cleveland-Cliffs bills itself as the largest and oldest iron ore miner in the U.S.
During the conference call, Goncalves referred to an unspecific individual and said the company's stock buybacks "are going to screw this guy so badly that ... they will have to commit suicide."
""It's unbelievable that this big banks has still employ this type of people. You should resign for your lack of knowledge of things, it's not like that you don't understand, you are very one of the best, it's not like you don't understand our business, you don't understand your own business. You are a disaster. You are an embarrassment to your parents," Goncalves said during the earnings call.
This story is developing. Please check back for updates.
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