Teck Mining Company's zinc and lead smelting and refining complex is pictured in Trail, B.C., on Monday November 26, 2012. Teck Resources reports that it had $433 million of net income attributable to its shareholders in last year's fourth quarter, a 41.5 per cent decline from the year earlier that was mainly due to lower prices for most of its commodities.THE CANADIAN PRESS/Darryl Dyck
February 13, 2019 - 6:14 AM
VANCOUVER - Teck Resources Ltd. saw its fourth-quarter profit drop 41.5 per cent from the year earlier, amid lower prices for copper, zinc and oil.
The profit attributable to shareholders amounted to $433 million or 75 cents per diluted share, down from a profit of $748 million or $1.26 per diluted share in the fourth quarter of 2017.
Teck's adjusted profit attributable to shareholders was $500 million or 86 cents per diluted share, down from $680 million or $1.16 per diluted share.
Revenue for the three months ended Dec. 31 was $3.25 billion, up from a $3.16 billion in the 2017 fourth quarter, as lower base metal prices were offset by higher prices for steelmaking coal and new contributions from oilsands production.
Steelmaking coal accounted for $1.674 billion of Teck's revenue, up from a year earlier. Copper and zinc revenue fell to $633 million and $820 million respectively. Oil contributed $120 million of revenue, compared with none a year before.
Companies in this story: (TSX:TECK.B, TSX:TECK.A)
News from © The Canadian Press, 2019