Teck Resources Reports Strong Q2 Earnings Driven by Copper Production
Teck Resources reported a strong second-quarter performance for 2026, driven primarily by record copper prices, improved operations, and favorable cost management. The company generated CAD 1.7 billion in cash flow from operations and adjusted EBITDA of CAD 2.2 billion—nearly tripling compared to the same period last year. Copper production increased nearly 25% year over year across all operations, with copper segment gross profit before depreciation and amortization more than doubling to CAD 1.8 billion. Despite strong results in Q2, Teck maintained its full-year guidance for copper output but noted that second-half production is expected to decline at Highland Valley and Antamina due to planned downtime and lower ore grades. Operations at Quebrada Blanca continued stabilizing with improved throughput and recoveries. The company also highlighted progress on the Anglo American merger, noting Chinese regulatory approval as a key remaining step. Teck returned CAD 61 million to shareholders through its regular quarterly base dividend during Q2 and increased its net cash position by CAD 756 million in the quarter alone.
Tickers: $TECK
Topics: adjusted EBITDA cash flow from operations copper production merger progress