Quarterly ResultJul 24, 2026, 06:07 AM
Teck Q2 Adjusted EBITDA $2.2B, EPS $1.93; Copper Production Up 25%
AI Summary
Teck Resources Limited reported strong unaudited second quarter results for 2026, driven by robust operational and financial performance. Adjusted EBITDA surged 204% to $2.2 billion, with adjusted profit attributable to shareholders reaching $948 million, or $1.93 per share. The company saw significant increases in copper production and improved unit costs, alongside strong performance in its zinc segment. Teck also provided updates on its merger with Anglo American and a strategic investment agreement for critical minerals expansion.
Key Highlights
- Adjusted EBITDA of $2.2 billion in Q2 2026, up 204% year-over-year.
- Adjusted profit attributable to shareholders was $948 million, or $1.93 per share.
- Copper production volumes increased 25% to 135,900 tonnes in Q2 2026.
- Copper net cash unit costs reduced to US$1.64 per pound from US$2.02.
- Zinc segment gross profit before D&A was $353 million, up from $159 million.
- Merger with Anglo American plc progressing, expected to close within 12-18 months.
- Strategic Investment Agreement signed for germanium, gallium, and antimony expansion.
- QB net cash unit costs decreased significantly to US$1.83 per pound.
Price Impact
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