Teck earnings slide in second quarter
Jul 24, 2014 | 03:48 PM
| Saranya Kapur
NEW YORK Teck Resources Ltd.s second-quarter earnings were dented by weaker copper results, but profits from its zinc business surged due in part to stronger sales and higher pricing.
The Vancouver, British Columbia-based company posted net income of Canadian $80 million ($74.4 million) for the three months ended June 30, down 44.1 percent from the same period last year on sales that slid 6.6 percent to $2.01 billion ($1.87 billion).
The companys gross profit on copper totaled C$160 million ($148.9 million) in the second quarter, down 33.3 percent from $240 million a year earlier, while gross profit on zinc jumped 77.8 percent to C$112 million ($104.2 million) from C$63 million. ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.