By Canadian Press

Teck Resources reports Q3 profit and revenue down from year ago mark

Oct 27, 2020 | 5:18 AM

Teck Resources Ltd. reported its third-quarter profit and revenue fell compared with a year ago.

The Vancouver-based mining company says it earned a profit attributable to shareholders of $61 million or 11 cents per diluted share for the quarter ended Sept. 30.

The result compared with a profit attributable to shareholders of $369 million or 66 cents per diluted share in the same period a year earlier.

Revenue for the quarter totalled $2.29 billion, down from $3.04 billion in the same quarter last year.

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On an adjusted basis, Teck says it earned 24 cents per diluted share, down from an adjusted profit of 69 cents per diluted share a year ago.

Analysts on average had expected an adjusted profit of 27 cents per share, according the financial data firm Refinitiv.

This report by The Canadian Press was first published Oct. 27, 2020.

Companies in this story: (TSX:TECK.B, TSX:TECK.A)

The Canadian Press