Teck Resources Q3 Net Profit Up, But Adj. EPS Falls - Quick Facts

(RTTNews) - Teck Resources Ltd. (TCK, TCK_A.TO, TCK_B.TO) posted higher third-quarter profit attributable to shareholders of C$267 million, or C$0.46 per share, versus C$256 million, or C$0.44 per share, a year before. However, excluding the effect of certain transactions, adjusted profit totaled C$252 million, or C$0.44 per share in the recent quarter, down sharply compared with last year's C$425 million, or C$0.73 per share, hurt by significantly lower coal prices, partially offset by record sales volumes for coal in the quarter.

For the recent quarter, revenues amounted to C$2.52 billion.

Compared with last year, profits are lower as a result of lower prices for all of the company's principal products. Coal and copper prices in the third quarter declined by 28% and 8%, respectively, on a year-over-year basis. Based on sales volumes, these lower prices resulted in the company's revenues being nearly C$410 million lower than the year-ago quarter. The company added that the production and sales volumes were at or above last year's levels for its major products other than copper.