Teck Resources Q4 Profit Plunges; Backs FY23 Production Outlook

RTTNews | 702 days ago
Teck Resources Q4 Profit Plunges; Backs FY23 Production Outlook

(RTTNews) - Teck Resources Ltd. (TECK, TECK_A.TO, TECK_B.TO) reported Tuesday that fourth-quarter profit attributable to shareholders plunged to C$247 million or C$0.47 per share from C$1.53 billion or C$2.83 per share last year.

Excluding items, adjusted profit attributable to shareholders was C$558 million or C$1.07 per share, compared to last year's profit of C$1.38 billion or C$2.54 per share.

Revenue for the quarter declined to C$3.14 billion from C$4.20 billion a year earlier.

On Saturday, the Board approved a $0.625 per share dividend, including a $0.50 per share supplemental dividend, payable on March 31, 2023 to shareholders of record on March 15, 2023, and authorized up to a $250 million share buyback.

Separately, Teck Resources announced the reorganization of its business to separate Teck into two independent, publicly-listed companies: Teck Metals Corp. and Elk Valley Resources Ltd.

Looking ahead for fiscal 2023, the company continues to project Copper production of 390 thousand tonnes to 445 thousand tonnes, and Zinc production of 645 thousand tonnes to 685 thousand tonnes.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
Teck Resources Rejects Unsolicited Acquisition Offer From Glencore

Teck Resources Rejects Unsolicited Acquisition Offer From Glencore

Teck Resources Ltd. (TECK, TECK.A.TO) announced Monday that the Board of Directors of Teck has received and unanimously rejected an unsolicited and opportunistic acquisition proposal from Glencore plc (GLCNF.PK, GLNCY.PK, GLEN.L), which would see that company acquire Teck and subsequently separate to create two businesses, which would expose Teck shareholders to thermal coal and oil trading.
RTTNews | 661 days ago
Swiss Market Ends Moderately Higher

Swiss Market Ends Moderately Higher

Despite struggling for direction early on in the session, Swiss stocks gained in strength past noon on Thursday and eventually closed the day's session on a firm note.
RTTNews | 5h 17min ago
European Stocks Close Higher Again

European Stocks Close Higher Again

European stocks closed higher on Thursday, extending recent gains, amid continued optimism about further monetary easing by central banks. Despite worries about U.S. President Donald Trump's tariff threats, investors picked up stocks, focusing on earnings and other corporate news.
RTTNews | 5h 32min ago
Eurozone Consumer Confidence Improves In January

Eurozone Consumer Confidence Improves In January

Euro area consumer confidence grew for the first time in three months in January, but remained in the negative territory suggesting lingering pessimism, preliminary data from the European Commission showed on Thursday.
RTTNews | 8h 23min ago
U.S. Weekly Jobless Claims Extend Rebound

U.S. Weekly Jobless Claims Extend Rebound

After reporting a rebound by first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing initial jobless claims saw further upside in the week ended January 18th. The Labor Department said initial jobless claims rose to 223,000, an increase of 6,000 from the previous week's unrevised level of 217,000.
RTTNews | 9h 29min ago
Meta's Revised Pay-or-Consent Policy Faces Criticism From EU Consumer Group

Meta's Revised Pay-or-Consent Policy Faces Criticism From EU Consumer Group

The European Consumer Organisation or BEUC, a consumer advocacy group, has urged The European Union authorities to intervene against Meta Platforms. BEUC argues that Meta's revised pay-or-consent policy breaches EU law. In a statement, BEUC said the new version of Meta's pay-or-consent policy fails to address the fundamental concerns raised by consumer groups regarding the tech giant's initial
RTTNews | 9h 42min ago
U.S. Weekly Jobless Claims Inch Up More Than Expected

U.S. Weekly Jobless Claims Inch Up More Than Expected

After reporting a rebound by first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing initial jobless claims saw further upside in the week ended January 18th.
RTTNews | 10h 23min ago