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FINWIRES

Teck Resources' Q1 Adjusted Earnings Surge YoY on Record Copper Sales

-- Teck Resources (TECK-B.TO) was at last look down 1.2% in US premarket trade after it earlier Thursday reported a jump in first-quarter adjusted earnings, supported by record quarterly copper sales.

Adjusted profit attributable to shareholders was C$858 million, or $1.75 per share, a surge from $303 million, or $0.60 per share. The result beat the first-quarter non-GAAP consensus earnings per share estimate of $1.12 compiled by FactSet.

Revenue came in at $3.94 billion, up from $2.29 billion. The result beat the first-quarter sales consensus sales estimate of $3.23 billion compiled by FactSet.

Adjusted EBITDA was $2.09 billion, up from $927 million. The increase was driven by record quarterly copper sales volumes, higher commodity prices and increased revenue from by-products.

Quebrada Blanca copper sales volumes of 70,300 tonnes in the first quarter was a quarterly record. Production volumes for the quarter were 55,500 tonnes.

Teck maintained its 2026 copper production guidance of 455,000 to 530,000 tonnes.

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