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Canada's Teck Resources beats Q4 revenue, EPS estimates

ReutersFeb 19, 2026 6:09 AM


Overview

  • Canada mining firm's Q4 revenue rose, beating analyst expectations

  • Adjusted EPS for Q4 beat analyst expectations

  • Company advanced merger with Anglo American, securing shareholder and regulatory approvals


Outlook

  • Teck reaffirms 2026 guidance for copper and zinc production and costs

  • Teck expects 2026 zinc in concentrate production at Antamina between 35,000 and 45,000 tonnes

  • Merger with Anglo American expected to deliver US$800 mln annual pre-tax synergies


Result Drivers

  • HIGHER COPPER PRICES - Teck's Q4 results were driven by significantly higher copper prices, averaging US$5.03 per pound, contributing to increased revenue and gross profit in the copper segment

  • QUEBRADA BLANCA RAMP-UP - Continued ramp-up at QB with improved production and tailings management supported higher copper output, contributing to strong quarterly performance

  • MERGER PROGRESS - Teck advanced its merger with Anglo American, receiving shareholder and regulatory approvals, positioning for future growth as a top-five copper company


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Revenue

Beat

C$3.06 bln

C$3.01 bln (8 Analysts)

Q4 Adjusted EPS

Beat

C$1.37

C$0.91 (12 Analysts)

Q4 Adjusted EBITDA

Beat

C$1.51 bln

C$1.32 bln (13 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the diversified mining peer group is "buy"

  • Wall Street's median 12-month price target for Teck Resources Ltd is C$74.50, about 8.4% below its February 18 closing price of C$81.34

  • The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 28 three months ago

Press Release: ID:nGNXc3PRr0

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

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