started · updated
Teck Resources reports C$1.59 billion third quarter profit
Teck Resources reported a third quarter profit of C$1.59 billion, or C$3.24 per share. A significant portion of these earnings, specifically a C$888 million pre-tax impairment reversal at its Trail Operations, was driven by a non-cash accounting adjustment rather than mining output.
At the Trail Operations complex, gross profit for the third quarter reached $168 million, up from $53 million in the same period last year. This increase was attributed to higher metal prices and optimized feed strategies. The impairment reversal restores the book value of the Trail complex following a writedown in 2024.
Despite the profit boost, copper production fell 15% to 115,700 tonnes compared to the second quarter. This decline was influenced by weather-related challenges at the Quebrada Blanca site, including snowstorms and power outages. However, revenue rose to C$4.52 billion, supported by record copper prices averaging US$6.40 per pound and the start of the Red Dog shipping season.
Entities
Quebrada Blanca · Red Dog · Teck Resources · Trail Operations
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Trail produced 61,900 tonnes of refined zinc in the third quarter. grandforksgazette.ca · todayinbc.com
- [○ 1 SOURCE] Quebrada Blanca copper production fell to 47,200 tonnes. thedeepdive.ca
- [● 2 SOURCES] Trail Operations gross profit for Q3 was $168 million. grandforksgazette.ca · todayinbc.com
- [○ 1 SOURCE] Copper output fell 15% to 115,700 tonnes in the third quarter. thedeepdive.ca
- [○ 1 SOURCE] Copper prices averaged US$6.40 per pound during the quarter. thedeepdive.ca
- [● 3 SOURCES] Teck recorded a C$888 million pre-tax impairment reversal at Trail Operations. grandforksgazette.ca · todayinbc.com · thedeepdive.ca
- [● 2 SOURCES] Refined lead production at Trail rose to 21,800 tonnes. grandforksgazette.ca · todayinbc.com
- [○ 1 SOURCE] Teck Resources reported a third quarter profit of C$1.59 billion. thedeepdive.ca