Teck Resources Limited had a strong year with significant advancements in its transformation strategy, robust financial performance, and record copper production. Despite some challenges in zinc production and potential tariff impacts, the company's overall outlook remains positive, with strategic growth in copper and strong shareholder returns.

Company Guidance

In the fourth quarter of 2024, Teck Resources Limited reported substantial progress and financial performance, marked by significant metrics. The company completed the sale of its steelmaking coal business, repositioning as a pure-play energy transition metals company with a focus on copper and zinc. This transaction generated $8.6 billion, leading to a historic return of $1.8 billion in cash to shareholders, including $514 million in dividends and $1.25 billion in share buybacks. Teck reduced its debt by $2.5 billion and maintained $11.3 billion in liquidity, including $7.1 billion in cash. The company achieved a record 446,000 tons in annual copper production, contributing to a doubled adjusted EBITDA of $2.9 billion for the year. Cost management led to a 21% reduction in corporate costs, saving $88 million. Teck also set a new quarterly copper production record and reported a 160% increase in adjusted EBITDA for Q4 to $835 million. The company's outlook for 2025 includes further growth in copper production to 490-565 thousand tons, a reduction in copper net cash unit costs to $1.65-$1.95 per pound, and continued shareholder returns, demonstrating their strong financial positioning and strategic execution.

Transformation and Strategic Shift

Teck Resources Limited transitioned to a pure-play energy transition metals company by completing the sale of its steelmaking coal business for $8.6 billion. This enabled a significant cash return to shareholders and strengthened the balance sheet.

Strong Financial Performance

In 2024, Teck Resources Limited returned $1.8 billion in cash to shareholders, reduced debt by $2.5 billion, and maintained $11.3 billion in liquidity. Adjusted EBITDA doubled to $2.9 billion, and corporate costs were reduced by 21%.

Record Copper Production

Annual copper production increased by 50% to 446,000 tons, with continued growth expected. QB ramped up to design throughput rates, contributing to record copper production in three consecutive quarters.

Zinc Segment Performance

Red Dog increased zinc in concentrate production while reducing costs. Zinc sales volumes increased by 24% in Q4, driven by strong sales from Red Dog.

Cash Returns and Share Buybacks

Teck Resources Limited returned a total of $1.8 billion to shareholders in 2024, including $549 million in Q4. The company authorized $3.25 billion in share buybacks, with $1.8 billion remaining for future buybacks.

Sustainability and Recognition

Teck Resources Limited released its 2024 climate change and nature report and was named one of Canada's top 100 employers and one of the world's top companies for women.

Positive Outlook for Copper Growth

Copper production is expected to grow to 490,000 to 565,000 tons in 2025, with a reduction in net cash unit cost and improved EBITDA margins.

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Teck Resources (TECK) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TECK Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 24, 2025	2025 (Q1)	0.23 / -	0.529	―	―	―
Feb 20, 2025	2024 (Q4)	0.23 / 0.32	0.987	-67.86% (-0.67)
Oct 24, 2024	2024 (Q3)	0.28 / 0.42	0.536	-21.05% (-0.11)
Jul 24, 2024	2024 (Q2)	0.51 / 0.56	0.86	-35.25% (-0.30)
Apr 25, 2024	2024 (Q1)	0.60 / 0.53	1.255	-57.87% (-0.73)
Feb 22, 2024	2023 (Q4)	1.04 / 0.99	0.754	30.84% (+0.23)
Oct 24, 2023	2023 (Q3)	0.74 / 0.54	1.227	-56.32% (-0.69)
Jul 27, 2023	2023 (Q2)	0.85 / 0.86	2.291	-62.46% (-1.43)
Apr 26, 2023	2023 (Q1)	1.29 / 1.25	2.087	-39.86% (-0.83)
Feb 21, 2023	2022 (Q4)	0.88 / 0.75	1.791	-57.87% (-1.04)

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

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TECK Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 20, 2025	$42.70	$43.36	+1.55%
Oct 24, 2024	$49.45	$46.72	-5.52%
Jul 24, 2024	$45.26	$44.63	-1.39%
Apr 25, 2024	$44.82	$48.86	+9.01%

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.

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