The call highlighted strong financial performance and shareholder returns driven by strategic shifts and operational efficiency. However, concerns were raised due to production guidance reductions and operational challenges at key projects like QB and Trail. Despite these issues, the company's financial health and strategic focus on growth and shareholder returns remain strong.

Company Guidance

During the third quarter earnings call for Teck, the company provided extensive guidance on its financial and operational metrics. Teck announced the completion of the QB2 project within the capital guidance range of USD 8.6 billion to $8.8 billion, alongside the demobilization of its construction workforce. As of September 30, 2024, the company reported a net cash position of $1.8 billion, having reduced its debt by USD 1.5 billion. It returned $720 million to shareholders through dividends and share buybacks in Q3, contributing to over $1.3 billion in returns year-to-date. The company updated its 2024 net cash unit cost guidance range to $0.45 to $0.55 per pound, improving by $0.10 due to strong operational performance. Copper production guidance for 2024 was adjusted to 420,000 to 455,000 tonnes, acknowledging a slower ramp-up at QB operations. For 2025, the QB production guidance was set at 240,000 to 280,000 tonnes, reflecting ongoing improvement efforts and anticipated higher grades. Teck also emphasized its strategic focus on safety, health, and sustainability, noting a 33% reduction in its high potential incident frequency rate year-over-year to $0.10.

Record Financial Performance

Adjusted EBITDA more than doubled, and adjusted EPS nearly quadrupled compared to the same period last year, driven by strong copper and zinc prices and increased copper sales volumes.

Significant Shareholder Returns

Returned $720 million to shareholders through dividends and share buybacks in the quarter, with over $1.3 billion returned year-to-date.

Copper Production Growth

Achieved another consecutive record quarter of copper production, with QB operations continuing to ramp up.

Debt Reduction and Strong Balance Sheet

Reduced debt by USD 1.5 billion, achieving a net cash position of $1.8 billion as of September 30.

Operational Efficiency Improvements

Improved zinc net cash unit cost guidance by $0.10 per pound, reflecting strong operational performance and lower operating costs.

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Teck Resources (DE:TEKB) 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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DE:TEKB Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 25, 2018	2018 (Q2)	- / 0.76	0.677	12.00% (+0.08)	―	―
Oct 24, 2018	2018 (Q3)	- / 0.54	0.731	-25.93% (-0.19)	―	―
Feb 12, 2019	2018 (Q4)	- / 0.58	0.819	-28.93% (-0.24)	―	―
Apr 23, 2019	2019 (Q1)	- / 0.67	0.887	-24.43% (-0.22)	―	―
Jul 25, 2019	2019 (Q2)	- / 0.55	0.758	-27.68% (-0.21)	―	―
Oct 24, 2019	2019 (Q3)	- / 0.49	0.542	-10.00% (-0.05)	―	―
Feb 21, 2020	2019 (Q4)	- / 0.15	0.582	-74.42% (-0.43)	―	―
Apr 21, 2020	2020 (Q1)	- / 0.12	0.67	-82.83% (-0.56)	―	―
Jul 23, 2020	2020 (Q2)	- / 0.12	0.548	-79.01% (-0.43)	―	―
Oct 27, 2020	2020 (Q3)	- / 0.16	0.487	-66.67% (-0.32)	―	―

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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DE:TEKB Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 24, 2024	€46.19	€43.72	-5.36%
Jul 24, 2024	€41.22	€41.80	+1.41%
Apr 25, 2024	€41.76	€45.35	+8.59%
Feb 22, 2024	€34.13	€34.73	+1.73%

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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