EarningsQ2 2026 Earnings Report
MX:TECKN Q2 2026 EPS Results
Actual EPS$24.60
Consensus EPS$17.22
Beat/MissBeat by +$7.38
One Year Ago EPS$4.84
MX:TECKN Q2 2026 Revenue Results
Actual Revenue$45.95B
Expected Revenue$43.16B
Beat/MissBeat by +$2.79B
YoY Revenue Growth+78.20%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeBefore Open
Conference CallThursday, July 23, 2026
MX:TECKN Upcoming Earnings
Teck Resources's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:TECKN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong quarter with materially improved earnings, cash generation, margins, and production growth—driven by higher commodity prices, operational stability (notably at QB), and disciplined cost control. The company also strengthened its balance sheet and advanced major projects (Highland Valley) and TMF milestones, while progressing merger and integration planning. Key risks discussed include continued TMF work (and potential incremental capital), energy and byproduct price volatility, planned second-half shutdowns and grade variability, and the remaining regulatory timing for the merger. On balance, the positive operational and financial results substantially outweigh the challenges and uncertainties highlighted.Company Guidance
Significant Earnings and Cash Generation
Adjusted EBITDA tripled year-over-year to $2.2 billion in Q2 2026; cash flow from operations of $1.7 billion during the quarter; adjusted EBITDA margin reached a record 61% (up from 36% in Q2 2025).
Strong Copper Production and Cost Improvements
Copper production increased ~25% year-over-year in Q2; QB produced 55.8 thousand tonnes of copper vs 52.7 thousand tonnes a year ago; copper net cash unit cost improved 19% from $2.02 US/lb to $1.64 US/lb.
Robust Segment Profitability
Copper gross profit before D&A more than doubled to $1.8 billion with margins of 65% (vs 46% prior year); zinc gross profit before D&A increased 122% to $353 million with margins of 39% (vs 28% prior year); segment adjusted EBITDA margins rose to 70% (copper) and 38% (zinc).
Balance Sheet and Liquidity Strengthened
Net cash increased by $756 million during the quarter to $1.2 billion (up $1.0 billion in H1 2026); total liquidity of $10.3 billion as of June 30, including $6.1 billion of cash; ongoing debt reduction via QB project finance repayments.
Operational Stability at QB and TMF Progress
QB has achieved a 3rd consecutive quarter without TMF-related downtime; completed Rock Bench 5 and cyclone upgrades improving sand deposition; secondary cyclone station and permanent TMF pipeline work planned to further strengthen tailings handling.
Advancement of Highland Valley Mine Life Extension
Highland Valley project ~95% detailed engineering complete; invested $254 million of project capital in the quarter; capex guidance for 2026 remains $900M–$1.2B; project expected to extend mine life to 2046 and support ~132,000 tpa average copper production.
Value-Driven Optimization at Trail Operations
Craig (Trail) gross profit before D&A rose to $203 million (vs $42 million prior year) driven by higher byproduct pricing and prioritizing higher-value feed; announced strategic investment agreement with Canadian government to support germanium/antimony and new gallium capacity.
Operational Cost Discipline Despite Energy Headwinds
Overall operating costs were lower year-over-year, more than offsetting higher oil prices; zinc net cash unit cost improved ~29% from $0.49 US/lb to $0.35 US/lb driven by stronger byproduct prices and lower smelter charges.
Return of Capital and Continued Project Funding
Returned $61 million to shareholders via regular quarterly base dividend while continuing to fund Highland Valley capex and TMF work at QB.
MX:TECKN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed