Teck Resources Third-Quarter Revenue Rises to C$4.52 Billion as Adjusted EBITDA Jumps 97% to C$2.31 Billion
Canadian miner Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) reported unaudited third-quarter 2026 results on October 29 in Vancouver. Revenue was C$4.517 billion, up from C$3.385 billion a year earlier, and adjusted EBITDA was C$2.305 billion, 97% higher than the same period last year.
Profit before taxes was C$2.276 billion. Profit attributable to shareholders was C$1.592 billion, or C$3.24 per share, while adjusted profit attributable to shareholders was C$923 million, or C$1.88 per share, compared with C$372 million, or C$0.76 per share, a year earlier. Cash flow from operations was C$1.6 billion, increasing the company's net cash position by C$655 million in the quarter. Liquidity at September 30, 2026 was C$10.9 billion, including C$6.7 billion of cash.
Copper drove the growth. Copper prices averaged a record US$6.40 per pound in the quarter, production rose 11% to 115,700 tonnes with increases at all copper operations except Carmen de Andacollo, where extreme weather caused an extended shutdown, and copper net cash unit costs fell to US$1.77 per pound from US$2.09 a year earlier. The zinc segment recorded a pre-tax impairment reversal of C$888 million at Trail Operations under its optimized feed strategy.
Teck said its merger of equals with Anglo American remains on track to close within the originally stated 12 to 18 months from announcement, with the future executive leadership team already named. The combination is expected to deliver about US$800 million in annual pre-tax synergies. The company reduced its 2026 copper net cash unit cost guidance to US$1.80 to US$2.00 per pound and also lowered zinc cost guidance, while annual production guidance was unchanged.
President and CEO Jonathan Price said the third-quarter results showcase the underlying strength of the business, with increased production, disciplined execution and record copper prices driving strong financial performance and cash generation, achieved while dealing with severe weather events across the copper operations and prioritizing the safety of its people.
Source: GSM · USA (original Chinese edition)
Photo: 图：加拿大 British Columbia 的 Highland Valley 铜矿航拍，该矿为 Teck Resources 旗下铜矿之一，画面下方为尾矿坝。照片：Alvestrand 摄，CC BY-SA 3.0，经 Wikimedia Commons。 / An aerial view of the Highland Valley Copper mine in British Columbia, Canada, one of Teck Resources' copper operations, with its tailings dam below. Photo: Alvestrand, CC BY-SA 3.0, via Wikimedia Commons.
