Teck to Report Third-Quarter Results on October 29 as Highland Valley Strike Draws Attention
Key Facts
Teck Resources said it will release its third-quarter 2026 results before the market opens on Thursday, October 29, and scheduled a results review webcast for 8:00 a.m. Pacific time, or 11:00 a.m. Eastern time, according to a company statement. The announcement comes as markets track the impact of a strike that began later at its Highland Valley Copper operations, where the mine continues to operate at reduced capacity. Teck said the labor action’s impact on total production would depend on its duration, and acknowledged that it could affect production and previously issued guidance. This puts the third-quarter results in a broader operating context, as the strike began after the financial period covered by the results. The results figures themselves are not included in the information available here, so third-quarter financial or operating performance cannot be determined from it.
Second-quarter results provide a baseline for comparison with the more recent period. Teck’s revenue was C$3.605 billion in the second quarter of 2026, compared with C$2.023 billion in the same quarter of 2025, according to its earnings statement. Adjusted EBITDA was C$2.2 billion, up 204% year over year; the company said the increase was C$1.5 billion and attributed it to higher copper production, commodity prices and by-product revenue. Adjusted profit attributable to shareholders also reached C$948 million, or C$1.93 per share, compared with C$187 million and C$0.38 per share a year earlier. These figures show stronger second-quarter results than in the same period a year earlier, but they cover the preceding three months and do not measure third-quarter performance.
On cash, Teck said cash flow from operations was C$1.7 billion in the second quarter, increasing its net cash by C$756 million during the period. Liquidity was C$10.3 billion as of June 30, 2026, including C$6.1 billion in cash, according to the company statement. These figures provide a picture of the company’s cash-generation capacity and available liquidity at the end of the second quarter. The measurement date matters when reading the comparison: the reported liquidity was as of June 30, months before the Highland Valley strike began. These figures alone do not indicate the amount of cash or liquidity at the end of the third quarter.
Copper was a major focus of second-quarter results: Teck’s production was 135,900 tonnes, up 25% year over year, while the average copper price was US$6.05 per pound. Over the same period, the net cash unit cost of copper fell to US$1.64 per pound from US$2.02 in the second quarter of 2025. The company said cost discipline and by-product revenue helped reduce costs, alongside higher production volumes and prices among the factors supporting its results. The comparison between the two second quarters shows improved production and a lower unit cost, but does not establish that the same trend continued in the third quarter. The copper price cited here is also the second-quarter average, not a price for the period whose results were announced on October 29.
Highland Valley is an important asset in this context: the mine posted gross profit of C$589 million in the second quarter of 2026, compared with C$185 million in the same period a year earlier, according to Teck’s figures. The mine’s collective agreement expired on September 30, 2026, after which the strike notice allowed the union to begin action as early as 8:00 a.m. Pacific time on October 24. In a later update, Teck said the strike had begun and operations were continuing at reduced capacity. It added that contingency plans were focused on maintaining safety and environmental management during the labor action. The strike’s timing makes it a development after the third quarter, while its impact on total production depends on its duration.
Teck had kept its 2026 copper production guidance at a range of 455,000 to 530,000 tonnes in its second-quarter report. But after the strike began, it said the action could affect production and previous guidance, without providing a revised range in the information available. The company links its estimate of the potential impact to the strike’s duration, while Highland Valley continues to operate at reduced capacity. The next focus is therefore the duration of the labor action and any resulting impact on production and annual guidance, according to the company’s statements. The third-quarter results review was scheduled for October 29 at 8:00 a.m. Pacific time, after the results were released before the market opened.