Teck(US:TECK)2020-10-27 15:59Financial Performance - Revenue for Q3 2020 was $2.3 billion, compared to $3.0 billion in Q3 2019 [6] - Gross profit before depreciation and amortization was $703 million in Q3 2020, down from $1.2 billion in Q3 2019 [6] - Adjusted EBITDA was $638 million in Q3 2020, compared to $1.1 billion in Q3 2019 [6] - Adjusted profit attributable to shareholders was $130 million in Q3 2020, versus $389 million in Q3 2019 [6] - Adjusted basic earnings per share were $0.24 in Q3 2020, compared to $0.70 in Q3 2019 [6] Steelmaking Coal Business - Adjusted site cash cost of sales for steelmaking coal declined to $67 per tonne in Q3 2020 [8] - The company expects adjusted site cash cost of sales to be less than $60 per tonne in December 2020 [5, 8, 19] - Steelmaking Coal EBITDA decreased by $523 million in Q3 2020 compared to Q3 2019 [19] - Expect 58-62 Mt of steelmaking coal sales in Q4 2020 [19] Copper Business - Copper EBITDA increased by $14 million in Q3 2020 compared to Q3 2019 [22] - The company lowered copper production guidance for H2 2020 to 140-155 kt [21] COVID-19 Impact - The company expensed $130 million in Q3 2020 related to COVID-19, including $107 million for QB2 and $23 million in finance expense [33]