Teck Resources posts strong Q3 2026 results and lowers cost guidance amid merger progress
Teck Resources reported unaudited third‑quarter 2026 results showing adjusted EBITDA of C$2.3 billion and adjusted profit per share of C$1.88, both well above the prior year. The company lowered its 2026 net‑cash unit‑cost guidance for copper and zinc and said the merger with Anglo American remains on track to close within 12‑18 months. Record copper prices and higher production drove the performance despite severe weather disruptions at several sites.
Why it matters
The earnings beat and lower cost guidance improve Teck’s cash generation outlook, which may support higher dividends or debt reduction, and the unchanged merger timeline reduces uncertainty for shareholders awaiting the combined entity. Analysts at StoneX raised their price target to $72, reflecting the stronger results.
Key facts
- 1Adjusted EBITDA for Q3 2026 was C$2.3 billion, up 97% year‑over‑year. saultstar.com
- 2Adjusted profit attributable to shareholders was C$923 million, or C$1.88 per share, versus C$372 million, or C$0.76 per share, a year‑over‑year increase. saultstar.com
- 3Revenue for Q3 2026 was C$4.52 billion, a 33.7% year‑over‑year increase. seekingalpha.com
- 4Copper production in Q3 2026 was 115,700 tonnes, 11% higher than the same period last year. saultstar.com
- 5The merger with Anglo American is expected to close within 12‑18 months of the September 2025 announcement. saultstar.com
- 6StoneX raised its price target for Teck Resources to $72 from $67. tradingview.com
Summary written by AlphAI AI Desk from 11 of 11 sources. Not investment advice. Figures are as stated by the linked sources.