Teck Resources Adjusted EBITDA Hits 2.2 Billion in Second Quarter
The mining company reported a 204% increase in adjusted EBITDA compared to the same period last year.
Teck Resources Limited (TECK), the critical minerals producer, reported adjusted EBITDA of 2.2 billion in the second quarter of 2026. This figure rose 204% from the 722 million reported in the same period last year.
The company's copper segment drove the majority of the financial growth. Gross profit before depreciation and amortization for copper reached 1.8 billion in the second quarter, compared to 673 million in the prior year's corresponding period. This trajectory was supported by record copper prices, which averaged 6.05 US dollars per pound during the quarter. Copper production volumes rose 25% to 135,900 tonnes.
Operational efficiency in the copper segment also improved. Net cash unit costs for copper fell to 1.64 US dollars per pound, down from 2.02 US dollars per pound in the same period last year. The company attributed this reduction to strong cost performance and increased revenue from by-products.
Overall financial results for the quarter included revenue of 3.6 billion and a profit before taxes of 1.5 billion. Adjusted profit attributable to shareholders was 948 million, or 1.93 a share, compared to 187 million, or 0.38 a share, in the second quarter of 2025. Cash flow from operations reached 1.7 billion, which increased the company's net cash position by 756 million. Total liquidity as of June 30, 2026, stood at 10.3 billion, including 6.1 billion in cash.
Teck maintained its previously disclosed annual guidance. For 2026, the company expects total copper production to range between 455,000 and 530,000 tonnes. The Quebrada Blanca operation is guided to produce between 200,000 and 235,000 tonnes in 2026. Zinc production guidance for 2026 is set between 410,000 and 460,000 tonnes.
The company said these results position it to advance a planned merger with Anglo American to create a global critical minerals champion.