VANCOUVER, British Columbia, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") today announced the appointment of Lyndon Arnall as Executive Vice President and Chief Legal and Sustainability Officer, effective November 1, 2024. Mr. Arnall will succeed Charlene Ripley, who has confirmed her intention to retire at the end of this year. "Lyndon brings to this role extensive experience in corporate law in the mining sector and beyond, as well as experience an ...

VANCOUVER, British Columbia, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) ("Teck") today announced a new business structure to support its shift to a pure-play energy transition metals company focused on growth. "This new structure will ensure Teck is optimally positioned to operate safely, efficiently and responsibly while capitalizing on profitable growth opportunities and enhancing value for our shareholders and all stakeholders," said Jonathan Price, Pres ...

Teck Resources (TECK) reported second-quarter 2024 adjusted earnings per share (EPS) of 58 cents, which surpassed the Zacks Consensus Estimate of 47 cents by a margin of 23%. The bottom line marked a 37% plunge from earnings of 91 cents per share reported in the year-ago quarter. Gains from increased copper sales from QB, elevated copper prices and higher steelmaking coal sales volumes were offset by lower steelmaking coal prices. Finance and depreciation and amortization expenses increased year over year, ...

Fraser Phillips - Senior Vice President, Investor Relations and Strategic Analysis Jonathan Price - Chief Executive Officer Crystal Prystai - Chief Financial Officer Shehzad Bharmal - Senior Vice President, Operations Karla Mills - Head, Project Ian Anderson - Chief Commercial Officer Robin Sheremeta - President, Coal Business Unit Conference Call Participants Orest Wowkodaw - Scotiabank Lucas Pipes - B. Riley Securities Jackie Przybylowski - BMO Capital Markets Liam Fitzpatrick - Deutsche Bank Timna Tanner ...

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.52 on $2.17 billion in revenues for the coming quarter and $2.05 on $10.32 billion in revenues for the current fiscal year. This quarterly report represents an earnings surprise of 23.40%. A quarter ago, it was expected that this company would post earnings of $0.72 per share when it actually produced earnings of $0.56, delivering a surprise of -22.22 ...

Reconciliation of Gross Profit Before Depreciation and Amortization CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS Adjusted cash cost of sales – Adjusted cash cost of sales for our copper and zinc operations is defined as the cost of the product delivered to the port of shipment, excluding depreciation and amortization charges, any onetime collective agreement charges or inventory write-down provisions and by-product cost of sales. It is common practice in the industry to exclude depreciation and amorti ...

Wall Street expects a year-over-year decline in earnings on higher revenues when Teck Resources Ltd (TECK) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. Zacks Consensus Estimate Revenues are expected to be $2.9 billion, up 10.6% from the year-ago quarter. Investors should keep in mind that the ...

Core Viewpoint - Teck Resources Limited has successfully completed its offers to purchase outstanding notes, increasing the maximum purchase amount to approximately US$1.384 billion to accept all validly tendered notes [9][10]. Group 1: Offer Details - The total principal amount of notes validly tendered before the expiration date was US$1,367,481,000, with an additional US$16,311,000 tendered under guaranteed delivery procedures [2][4]. - The offers expired at 5:00 p.m. Eastern time on July 15, 2024, with the initial settlement date expected on July 17, 2024 [10]. - Holders of accepted notes will receive the applicable total consideration specified for each US$1,000 principal amount, payable in cash on the settlement date [17]. Group 2: Notes Information - The offers included six separate series of notes, with varying principal amounts outstanding and total considerations [11]. - The principal amounts tendered and accepted for each series of notes were detailed, showing significant participation across all series [11]. - Holders whose notes were accepted will also receive accrued coupon payments, with interest ceasing to accrue on the initial settlement date [12]. Group 3: Company Overview - Teck is a leading Canadian resource company focused on providing essential metals for economic development and energy transition, with operations in North and South America [8]. - The company emphasizes responsible growth and stakeholder trust as part of its operational strategy [8].

Core Viewpoint - Teck Resources Limited has announced the pricing terms for its offers to purchase up to US$1,250,000,000 of its outstanding notes across six separate series, with specific conditions and settlement dates outlined in the Offer to Purchase [7][18]. Group 1: Offer Details - The Offers are subject to the satisfaction or waiver of certain conditions, and Teck will accept notes for purchase based on their Acceptance Priority Level, with a maximum purchase condition in place [2][4]. - The Total Consideration for each series of Notes is calculated based on a fixed spread over the applicable U.S. Treasury yield, with specific amounts detailed for each series [9][16]. - The Initial Settlement Date is expected to be July 17, 2024, and the Guaranteed Delivery Settlement Date is expected to be July 19, 2024 [4][10]. Group 2: Notes Information - The Offers include six series of Notes with varying maturity dates and principal amounts outstanding, including 3.900% Notes due 2030 and 6.250% Notes due 2041, among others [8][16]. - The Total Consideration for the 3.900% Notes due 2030 is $957.01 per $1,000 principal amount, while the 6.125% Notes due 2035 have a Total Consideration of $1,057.76 [8][16]. Group 3: Additional Information - Holders whose Notes are accepted will receive an Accrued Coupon Payment in addition to the Total Consideration, covering interest accrued up to the Initial Settlement Date [11][19]. - Global Bondholder Services Corporation is acting as the Information and Tender Agent for the Offers, providing assistance and additional information as needed [12].

Allocation of the Proceeds From the Deal Background of the Sale On Nov 13, 2023, Teck Resources announced that it agreed to sell its steelmaking coal business for an implied enterprise value of $9 billion. The majority stake (77%) was to be made to Glencore and 20% to Nippon Steel Corporation. The remaining 3% stake was agreed to be taken up by POSCO (PKX) . Per the agreement, on Jan 3, 2024, Nippon Steel acquired the 20% interest in EVR in exchange for its prior 2.5% interest in Elkview Operations and a pa ...