Commodity prices and increased copper sales volumes boost Teck Q1 profit
VANCOUVER - Teck Resources Ltd. reported higher commodity prices and copper sales volumes boosted its first-quarter profit as its revenue rose.
The mining company, which completed the sale of its steelmaking coal business last summer, says its profit from continuing operations attributable to shareholders amounted to $370 million or 73 cents per diluted share for the quarter ended March 31.
The result compared with a loss of $125 million or 24 cents per diluted share in the same quarter last year.
On an adjusted basis, Teck says its profit from continuing operations amounted to 60 cents per diluted share for its latest quarter, compared with an adjusted loss of a penny per diluted share a year earlier.
Revenue for the quarter totalled $2.29 billion, up from $1.62 billion.
The company's realized copper price for the quarter was US$4.27 per pound, up from US$3.86 a year earlier, while it realized US$1.28 per pound for zinc, up from US$1.12 in the same quarter last year.
This report by The Canadian Press was first published April 24, 2025.
Companies in this story: (TSX:TECK.B)
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