President and Chief Executive Jonathan Price attributed the performance to margin growth across the company’s copper business and consistent cash flow from its zinc operations. Revenue climbed 33% to 4.52 billion Canadian dollars, while adjusted earnings before interest, taxes, depreciation, and amortization rose 97% compared to the previous year. Profit per share reached 3.24 Canadian dollars, a significant increase from 0.57 Canadian dollars in the same period last year.
In section Market Quotes
Teck Resources Reports Earnings Surge Amid Anglo American Merger Push
Record copper prices and ramped-up production fueled a sharp earnings spike for Teck Resources, as the Canadian miner confirmed its 35 billion dollar merger with Anglo American remains on schedule. The company reported a net income jump to 1.59 billion Canadian dollars for the third quarter, signaling robust momentum for the deal.
Despite the financial success, Teck faces operational hurdles. Severe weather forced an extended shutdown at the Carmen de Andacollo mine, pushing overall copper production toward the lower end of the company's annual guidance range. Nevertheless, the miner lowered its 2026 net cash unit cost estimates, citing strong performance and favorable byproduct pricing. Teck expects the Anglo American merger to close within the original 12-to-18-month window, potentially unlocking 800 million U.S. dollars in annual pretax synergies.
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