Canada's Teck Resources Q1 revenue, profit beats estimates on higher output, commodity prices

Teck Resources

23/04/2026 06:11

Overview

Canada mining company's Q1 revenue rose sharply, beating analyst expectations

Adjusted EPS for Q1 beat analyst expectations

Company cites record copper sales and higher prices as key drivers of results

Outlook

Teck sees 2026 copper production at 455,000–530,000 tonnes

Company expects 2026 zinc production of 410,000–460,000 tonnes

Teck maintains 2026 copper net cash unit cost guidance at US$1.85–US$2.20/lb

Result Drivers

RECORD COPPER SALES - Co said record quarterly copper sales volumes, especially from Quebrada Blanca, drove results

HIGHER COMMODITY PRICES - Co attributed improved results to significantly higher commodity prices, particularly copper

OPERATIONAL STABILITY AT QB - Co said ongoing operational stability and improved throughput at Quebrada Blanca supported strong production and sales

Company press release: ID:nGNX7fxjVr

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
C$3.94 bln
C$3.14 bln (5 Analysts)
Q1 Adjusted EPS
Beat
C$1.75
C$1.15 (9 Analysts)
Q1 EPS
C$1.67
Q1 Adjusted EBITDA
Beat
C$2.09 bln
C$1.59 bln (8 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the diversified mining peer group is "buy"

Wall Street's median 12-month price target for Teck Resources Ltd is C$80.00, about 1.3% above its April 22 closing price of C$81.05

The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 25 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)