Teck Resources (TECK)
NYSE:TECK
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Earnings Data
Report Date
Jul 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.71Last Year’s EPS
0.28Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a markedly positive operational and financial picture: adjusted EBITDA and copper performance surged, cash generation and liquidity strengthened, major projects (Highland Valley MLE and QB TMF) progressed materially, and the Anglo merger is advancing. Key challenges include remaining TMF execution work and infrastructure timing, elevated zinc unit-cost guidance driven by lower zinc volumes, a large seasonal working-capital build, and macro cost risk from higher diesel/WTI. Despite these project and macro risks, management maintained guidance and highlighted strong near-term cash flow sensitivity to sustained high copper prices.Company Guidance
Adjusted EBITDA More Than Doubled
Adjusted EBITDA increased 125% year-over-year to $2.1 billion in Q1 2026, driven by record copper sales volumes, higher commodity prices and optimized feed at Trail.
Strong Cash Generation and Liquidity
Operating cash flow was $1.0 billion in Q1; net cash position increased $338 million to $488 million; additional $276 million generated in April; total available liquidity reported at $9.8 billion.
Record and Growing Copper Performance
Copper production rose 32% YoY to 140,000 tonnes; copper gross profit before D&A increased 158% YoY to $1.8 billion; copper gross profit margin before D&A improved to 52% from 47%.
QB Delivered Record Quarterly Copper Sales
QB produced 56,000 tonnes in Q1 and achieved record quarterly copper sales of 70,000 tonnes (drawing down inventory); mill availability was 92% and asset utilization 87% despite planned maintenance.
Trail Operations Profitability Recovery
Gross profit before D&A at Trail improved to $258 million in Q1 from $80 million in Q1 2025 (up ~222%), benefiting from optimized feed strategy and higher by-product prices.
Zinc Segment Improvement
Zinc gross profit before D&A increased 72% YoY to $387 million; refined zinc production at Trail rose by 16,000 tonnes; Red Dog zinc sales in the quarter were above guidance at 52,000 tonnes.
Unit Costs Declined
Net cash unit costs improved: copper net cash unit cost decreased by $0.27 US/lb YoY; zinc net cash unit cost decreased by $0.08 US/lb YoY, reflecting higher by-product credits and production.
Highland Valley Mine Life Extension Progress
Detailed engineering >90% complete and procurement >95% complete; $188 million invested in Q1; 2026 capex guidance for the project unchanged at $900M–$1.2B and total project cost unchanged at $2.1B–$2.4B.
TMF Progress at QB
Completed Rock Bench 4 in Q1; Rock Bench 5 expected by end of Q2; sand deposition rates improved after new cyclone installation; secondary sand cyclone approved to further improve sand quality.
Favourable Commodity Price Environment and Scenarios
Average copper price in Q1 was a record $5.83 US/lb. Management provided illustrative FY scenarios: at $5.50 US/lb copper EBITDA ~$6.6B and operating cash ~$5.5B; at ~$6 US/lb copper EBITDA ~$7.1B and operating cash ~$5.9B.
Safety Performance
High potential incident frequency rate of 0.05 in Q1, below 2025 annual rate of 0.06 (matching best-ever result).
Merger Progressing
Merger of equals with Anglo American received South Korea approval and regulatory review with China is proceeding normally; integration planning advancing and timeline unchanged at 12–18 months from announcement.
TECK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TECK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 23, 2026 | $59.26 | $60.75 | +2.51% |
Feb 19, 2026 | $59.25 | $59.19 | -0.12% |
Oct 22, 2025 | $42.67 | $42.01 | -1.57% |
Jul 24, 2025 | $38.36 | $34.91 | -8.99% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Teck Resources (TECK) report earnings?
Teck Resources (TECK) is schdueled to report earning on Jul 23, 2026, Before Open (Confirmed).
What is Teck Resources (TECK) earnings time?
Teck Resources (TECK) earnings time is at Jul 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TECK EPS forecast?
TECK EPS forecast for the fiscal quarter 2026 (Q2) is 0.71.
