Teck Resources First Quarter 2024 Earnings: Misses Expectations

Teck Resources (TSE:TECK.B) First Quarter 2024 ResultsKey Financial Results

  • Revenue: CA$3.99b (up 5.4% from 1Q 2023).

  • Net income: CA$343.0m (down 71% from 1Q 2023).

  • Profit margin: 8.6% (down from 31% in 1Q 2023). The decrease in margin was driven by higher expenses.

  • EPS: CA$0.66 (down from CA$2.27 in 1Q 2023).

earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Teck Resources Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) also missed analyst estimates by 26%.

Looking ahead, revenue is expected to decline by 13% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Canada are expected to grow by 15%.

Performance of the Canadian Metals and Mining industry.

The company's shares are up 6.2% from a week ago.

Risk Analysis

You still need to take note of risks, for example – Teck Resources has 1 warning sign we think you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded MiningNerds.com to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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