Teck Resources Ends 2024 with Record Copper Output and Profits

Teck Resources has reported record copper production and strong financial results as it navigates trade uncertainties. CEO Jonathan Price stated that 2024 was a transformational year for the company.

Date: 22-02-2025

AI Rating: 7

Earnings Per Share (EPS): The report mentions adjusted profit from continuing operations attributable to shareholders was C$232 million, translating to C$0.45 per share, indicating solid earnings performance for the fourth quarter. Revenue Growth: The report highlights a year-on-year increase in copper business gross profit of 160%, further emphasized by record copper output for the year and a 24% increase in zinc sales volume, signaling strong revenue growth across product lines. Net Income: Teck's profit from continuing operations before taxes reached C$256 million for Q4. This performance showcases strong financial results amid challenging trade conditions. Profit Margins: The growth in both copper gross profit (C$732 million in Q4) and zinc gross profit (C$320 million) reflects improving profit margins for these segments, showing resilience in operations. Free Cash Flow (FCF): While not directly mentioned, the liquidity position, with C$11.3 billion in total, includes significant cash reserves, which suggests a strong capacity for free cash flow generation. Return on Equity (ROE): Although not explicitly stated, the substantial increases in profit and the company's commitment to share buybacks indicate a potentially favorable return on equity. Overall, the report showcases a company with strong operational performance and financial metrics. However, future uncertainties around tariffs and global economic conditions could weigh on the stock prices, despite the current positive outlook

Stocks: TECK