Canada's Teck Resources Q3 revenue beats on higher output, copper prices
TECK•Teck Resources reported Q3 revenue of C$4.52 billion and adjusted EPS of C$1.88, beating analyst estimates of C$4.25 billion and C$1.57. It maintained 2026 copper production guidance and lowered its cost outlook for copper and zinc.
1. Q3 results
Teck Resources said Q3 results were driven by higher copper and zinc prices, increased production and lower unit costs. Revenue was C$4.52 billion, adjusted EPS was C$1.88 and adjusted EBITDA was C$2.31 billion, each above analyst estimates. Copper averaged a record US$6.40 per pound, while copper production rose 11% year over year.
2. Production and costs
Copper net cash unit costs fell to US$1.77 per pound from US$2.09 a year earlier, reflecting strong cost performance and lower smelter processing charges. Teck maintained its 2026 copper production guidance for QB at 200,000–235,000 tonnes. It lowered its 2026 copper net cash unit cost outlook to US$1.80–$2.00 per pound and its zinc outlook to US$0.30–$0.40 per pound.
