Teck Resources Second Quarter 2024 Earnings: Misses Expectations

Teck Resources (TSE:TECK.B) Second Quarter 2024 Results

Key Financial Results

• Revenue: CA$3.87b (up 10% from 2Q 2023).
• Net income: CA$363.0m (down 29% from 2Q 2023).
• Profit margin: 9.4% (down from 14% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: CA$0.70 (down from CA$0.98 in 2Q 2023).

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 4.0%. Earnings per share (EPS) also missed analyst estimates by 8.2%.

Looking ahead, revenue is expected to decline by 11% 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 share price is broadly unchanged from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for Teck Resources that you should be aware of before investing here.

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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.

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