Cliffs Natural Resources (NYSE: CLF) reported earnings yesterday. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Cliffs Natural Resources missed estimates on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew and GAAP earnings per share dropped significantly.

Margins dropped across the board.

Revenue details
Cliffs Natural Resources chalked up revenue of $1.26 billion. The 13 analysts polled by S&P Capital IQ predicted a top line of $1.29 billion on the same basis. GAAP reported sales were 6.9% higher than the prior-year quarter's $1.18 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $2.63. The 19 earnings estimates compiled by S&P Capital IQ anticipated $1.10 per share. GAAP EPS of $2.63 for Q1 were 15% lower than the prior-year quarter's $3.11 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 24%, 2,200 basis points worse than the prior-year quarter. Operating margin was 18.3%, 2,290 basis points worse than the prior-year quarter. Net margin was 29.7%, 610 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.82 billion. On the bottom line, the average EPS estimate is $2.25.

Next year's average estimate for revenue is $7.29 billion. The average EPS estimate is $9.20.

Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cliffs Natural Resources is outperform, with an average price target of $88.39.

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