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BRIEF-Teck Says Adjusted Profit Attributable To Shareholders In Q3 Was C$0.24 Per Share

Published 2020-10-27, 01:48 a/m
© Reuters.
TECK
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Oct 27 (Reuters) - Teck Resources Ltd TECKb.TO :

* TECK REPORTS UNAUDITED THIRD QUARTER RESULTS FOR 2020

* ADJUSTED PROFIT ATTRIBUTABLE TO SHAREHOLDERS IN Q3 WAS C$0.24 PER SHARE

* QTRLY REVENUES C$2,291 MILLION VERSUS C$3,035 MILLION

* ADJUSTED SITE CASH COST OF SALES IN STEELMAKING COAL BUSINESS IS EXPECTED TO BE BELOW C$60 PER TONNE BY YEAR END

* QTRLY DILUTED EARNINGS PER SHARE C$0.11

* TECK -EXPENSED $130 MILLION IN COSTS IN QUARTER RELATING TO TEMPORARY SUSPENSION, REMOBILIZATION OF QB2 PROJECT AFTER SUSPENSION DUE TO COVID-19 IN MARCH 2020

* HAVE LOWERED H2 2020 COPPER PRODUCTION GUIDANCE RANGE BY 5,000 TONNES BASED ON CHANGES AT HIGHLAND VALLEY COPPER

* HAVE REDUCED CAPITAL EXPENDITURES, CAPITALIZED STRIPPING AND ZINC UNIT COST GUIDANCE FOR SECOND HALF OF 2020

* QTRLY STEELMAKING COAL PRODUCTION 5.1 MILLION TONNES VERSUS 6.5 MILLION TONNES

* QTRLY STEELMAKING COAL SALES 5.1 MILLION TONNES VERSUS 6.1 MILLION TONNES

* QB2 CONSTRUCTION ACTIVITIES ARE SAFELY RAMPING BACK UP TOWARDS FULL CONSTRUCTION LEVELS WITH OVER 7,000 PEOPLE CURRENTLY ON SITE

* Q3 EARNINGS PER SHARE VIEW C$0.27 -- REFINITIV IBES DATA

* Q3 REVENUE VIEW C$2.36 BILLION -- REFINITIV IBES DATA

* QB2 PROJECT IS EXPECTED TO BE APPROXIMATELY 40% COMPLETE BY YEAR END.

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