topstockalerts
Oct 29, 10:38 PM
Teck Resources reported a sharp increase in Q3 2026 profitability, driven by record copper prices, higher zinc prices and increased production. Net profit attributable to shareholders surged to C
$1.592B from C
$281M a year earlier, partly reflecting a C
$667M after-tax impairment reversal at its Trail operations.
Adjusted EBITDA nearly doubled, rising 97% year over year to C
$2.305B from C
$1.171B. Revenue increased 33.4% to C
$4.517B, while adjusted attributable profit climbed to C
$923M, or C
$1.88 per share, versus C
$372M, or C
$0.76 per share, a year earlier.
Copper production rose 11% to 115,700 tonnes, while the average copper price jumped 44% year over year to
$6.40 per pound. Copper segment gross profit more than tripled to C
$1.223B, and net cash costs fell to
$1.77 per pound from
$2.09.
Teck lowered its 2026 net cash cost guidance for copper to
$1.80–
$2.00 per pound from
$1.85–
$2.20, and for zinc to
$0.30–
$0.40 per pound from
$0.65–
$0.75.
$TECK
