Teck Resources Q1 EBITDA Doubles to $2.1B, Net Cash Up $338M
Teck Resources posted Q1 adjusted EBITDA of $2.1 billion on record copper sales, more than doubling year-ago levels and increasing net cash by $338 million. Shareholders elected all 11 directors with over 97.7% support, reappointed PwC with 97.8% approval and endorsed executive pay at 98.2%.
1. Q1 2026 Financial Performance
Teck recorded adjusted EBITDA of $2.1 billion in Q1 2026, more than double the prior-year quarter, driven by record copper sales volumes and higher commodity prices. Operating cash flow surged, boosting the quarter-end net cash position by $338 million.
2. Operational Updates and Merger Progress
The company maintained its full-year production guidance while noting that Trail asset profitability will hinge on commodity prices, treatment charges and foreign exchange rates. Permanent infrastructure at the QB project is slated for installation in 2027 without risk to guidance, and the merger with Anglo American secured South Korea approval and awaits Chinese regulatory clearance.
3. Shareholder Meeting Voting Results
At the April 23 AGM, 78.53% of outstanding shares voted to elect all 11 directors with each candidate securing over 97.7% support. Shareholders also reappointed PwC as auditor with 97.8% approval and endorsed the executive compensation advisory resolution with 98.2% support.