Teck Resources 2Q Profit Jumps on Higher Copper Output, Prices

Dow Jones07-23 18:57

Teck Resources profit rises in the second quarter as higher copper output and prices drive revenue growth.

The Canadian diversified mining company early on Thursday posted a higher net income of 854 million Canadian dollars ($606.2 million), or C$1.74 a share, up from C$206 million, or C$0.41 a share, in the comparable quarter a year ago.

Adjusted earnings were C$1.93 a share. According to FactSet, analysts were expecting C$1.35 a share.

Revenue rose to C$3.61 billion from C$2.02 billion, exceeding forecasts of C$3.39 billion.

Copper production volumes rose by 25% to 135,900 metric tons, with broad-based production increases across its copper operations. Demand for copper has been rising alongside prices in recent years given its importance as an industrial metal that is a key component in everything from artificial intelligence data centers to electric vehicles.

Chief Executive Jonathan Price credits strong copper sales volumes as well as a favorable commodity price environment for the quarter's performance.

Last September, Teck agreed to a merger with U.K.-based diversified mining major Anglo American, one of the biggest deals in the mining industry, that will create one of the world's largest copper producers with a combined market value of more than $53 billion.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

July 23, 2026 06:57 ET (10:57 GMT)

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According to FactSet, analysts were expecting C$1.35 a share. \n\n\n  Revenue rose to C$3.61 billion from C$2.02 billion, exceeding forecasts of C$3.39 billion. \n\n\n  Copper production volumes rose by 25% to 135,900 metric tons, with broad-based production increases across its copper operations. Demand for copper has been rising alongside prices in recent years given its importance as an industrial metal that is a key component in everything from artificial intelligence data centers to electric vehicles. \n\n\n  Chief Executive Jonathan Price credits strong copper sales volumes as well as a favorable commodity price environment for the quarter's performance. \n\n\n  Last September, Teck agreed to a merger with U.K.-based diversified mining major Anglo American, one of the biggest deals in the mining industry, that will create one of the world's largest copper producers with a combined market value of more than $53 billion. \n\n\n \n\n\n  Write to Adriano Marchese at adriano.marchese@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 23, 2026 06:57 ET (10:57 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2653999741","isCrawlerRequest":true}