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Mar 31, 2025
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Teck Q1 2025 Earnings Report
Teck Resources reported strong first-quarter results for 2025, with significant improvements in profitability driven by higher commodity prices and increased sales volumes.
Key Takeaways
Teck delivered a robust Q1 2025 performance with EPS of $0.43 and revenue of $1.65 billion. Net income turned positive year-over-year due to increased copper and zinc prices and improved operational efficiencies.
Adjusted EBITDA more than doubled to $927 million compared to Q1 2024.
Net income from continuing operations reached $370 million.
Copper production rose 7% to 106,100 tonnes.
Liquidity stood strong at $10 billion, including $5.8 billion in cash.
Revenue by Segment
Forward Guidance
Teck maintained its previously disclosed 2025 guidance ranges with production expected toward the lower end due to planned maintenance shutdowns.
Positive Outlook
- Copper production guidance for 2025 remains at 230,000–270,000 tonnes.
- Zinc production expected between 525,000–575,000 tonnes.
- Refined zinc guidance range stays at 190,000–230,000 tonnes.
- Unit costs for copper expected at US$1.80–$2.15/lb.
- All labor agreements at QB are secured through 2028.
Challenges Ahead
- Extended shutdowns planned in Q2 and Q3 to address tailings facility development.
- Challenging weather delayed tailings lifts and reduced asset utilization at QB.
- National power outage in Chile caused several days of downtime at QB.
- Sand deposition delays affected tailings management facility timelines.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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