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In the last reported quarter, Teck’s earnings declined year over year despite higher revenues. The company beat the Zacks Consensus Estimate on both metrics. The company has a trailing four-quarter earnings surprise of 3.7%, on average.
The Zacks Consensus Estimate for fourth-quarter 2022 earnings per share is currently pegged at 95 cents, suggesting a decline of 53% from the prior-year quarter’s levels. The estimate has remained unchanged over the past 30 days. The estimate for total revenues is pegged at $2.59 billion, indicating a year-over-year slump of 26%.
Price Performance
Image Source: Zacks Investment Research
Teck’s shares have appreciated 17.4% in the past year compared with the industry’s 8.8% fall.
Factors at Play
Teck Resources recently announced that its fourth-quarter steel-making coal sales were 4.3 million tons in the December quarter, lower than the volume of 5.1 million reported in the year-ago quarter. The figure came below the company’s guidance of 5-5.4 million tons. The lower-than-expected sales volumes were due to extreme cold weather in western Canada in December, which affected rail performance, rail car unloading and overall port performance. TECK also reported the average realized steelmaking coal price for the quarter under review was $278 per ton, lower than the $351 per ton in the fourth quarter of 2021. TECK stated that it would record provisional pricing adjustments of negative $10 million in its fourth quarter 2022 results.
The company produced 65.4 thousand tons of copper in the fourth quarter of 2022, down 9% year over year. Production was mainly impacted by a temporary pit closure at Highland Valley Copper as a result of a localized geotechnical event. Sales of copper also declined 10% year over year to 63.6 thousand tons.
Zinc production for the quarter was 143.7 thousand tons, down 3% year over year. Zinc sales were however flat at 164.7 thousand tons compared to the last year’s comparable quarter. Refined zinc production slumped 34% year over year to 46.2 thousand tons in the quarter owing to an unplanned downtime due to extreme cold weather in December. Maintenance activity at trail operations also impacted output. Refined zinc sales were down 16% to 57 thousand tons.
Overall, lower steelmaking volumes and lower metal prices through the quarter are likely to have impacted Teck Resources’ fourth-quarter 2022 revenues.
TECK is bearing the brunt of inflationary cost pressures, particularly in diesel prices and transportation costs. Mining equipment, fuel, tires and explosives costs are also high due to price increases for certain commodities such as steel, crude oil and natural gas. These factors will likely have dented the company’s margin in the fourth quarter.
What Our Zacks Model Indicates
Our proven model predicts an earnings beat for Teck Resources this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can see the complete list of today's Zacks #1 Rank stocks here.
You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for TECK is +6.48%.
Zacks Rank: The company currently carries a Zacks Rank of 2.
Other Stocks Poised to Beat Estimates
Here are some Basic Materials stocks, which, according to, our model, also have the right combination of elements to post an earnings beat in their upcoming releases.
Piedmont Lithium (PLL - Free Report) , expected to release earnings on Feb 15, has an Earnings ESP of +8.33% and currently sports a Zacks Rank of 1.
The consensus estimate for Piedmont Lithium’s fourth-quarter earnings has been revised to a loss of 36 cents from the loss of 39 cents over the past 30 days.
Quaker Chemical Corporation (KWR - Free Report) , slated to release earnings on Feb 23, has an Earnings ESP of +7.38%.
The Zacks Consensus Estimate for Quaker Chemical’s fourth-quarter earnings is currently pegged at $1.22. KWR currently carries a Zacks Rank of 2.
Celanese Corporation (CE - Free Report) , scheduled to release earnings on Feb 23, has an Earnings ESP of +0.37%.
The Zacks Consensus Estimate for CE’s earnings for the fourth quarter is currently pegged at $1.56. CE currently carries a Zacks Rank of 3.
Image: Bigstock
Teck Resources (TECK) to Report Q4 Earnings: What's in Store?
Teck Resources Limited (TECK - Free Report) will release fourth-quarter 2022 results after market close on Feb 21.
Q3 Results
In the last reported quarter, Teck’s earnings declined year over year despite higher revenues. The company beat the Zacks Consensus Estimate on both metrics. The company has a trailing four-quarter earnings surprise of 3.7%, on average.
Teck Resources Ltd Price and EPS Surprise
Teck Resources Ltd price-eps-surprise | Teck Resources Ltd Quote
Q4 Estimates
The Zacks Consensus Estimate for fourth-quarter 2022 earnings per share is currently pegged at 95 cents, suggesting a decline of 53% from the prior-year quarter’s levels. The estimate has remained unchanged over the past 30 days. The estimate for total revenues is pegged at $2.59 billion, indicating a year-over-year slump of 26%.
Price Performance
Image Source: Zacks Investment Research
Teck’s shares have appreciated 17.4% in the past year compared with the industry’s 8.8% fall.
Factors at Play
Teck Resources recently announced that its fourth-quarter steel-making coal sales were 4.3 million tons in the December quarter, lower than the volume of 5.1 million reported in the year-ago quarter. The figure came below the company’s guidance of 5-5.4 million tons. The lower-than-expected sales volumes were due to extreme cold weather in western Canada in December, which affected rail performance, rail car unloading and overall port performance. TECK also reported the average realized steelmaking coal price for the quarter under review was $278 per ton, lower than the $351 per ton in the fourth quarter of 2021. TECK stated that it would record provisional pricing adjustments of negative $10 million in its fourth quarter 2022 results.
The company produced 65.4 thousand tons of copper in the fourth quarter of 2022, down 9% year over year. Production was mainly impacted by a temporary pit closure at Highland Valley Copper as a result of a localized geotechnical event. Sales of copper also declined 10% year over year to 63.6 thousand tons.
Zinc production for the quarter was 143.7 thousand tons, down 3% year over year. Zinc sales were however flat at 164.7 thousand tons compared to the last year’s comparable quarter. Refined zinc production slumped 34% year over year to 46.2 thousand tons in the quarter owing to an unplanned downtime due to extreme cold weather in December. Maintenance activity at trail operations also impacted output. Refined zinc sales were down 16% to 57 thousand tons.
Overall, lower steelmaking volumes and lower metal prices through the quarter are likely to have impacted Teck Resources’ fourth-quarter 2022 revenues.
TECK is bearing the brunt of inflationary cost pressures, particularly in diesel prices and transportation costs. Mining equipment, fuel, tires and explosives costs are also high due to price increases for certain commodities such as steel, crude oil and natural gas. These factors will likely have dented the company’s margin in the fourth quarter.
What Our Zacks Model Indicates
Our proven model predicts an earnings beat for Teck Resources this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can see the complete list of today's Zacks #1 Rank stocks here.
You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for TECK is +6.48%.
Zacks Rank: The company currently carries a Zacks Rank of 2.
Other Stocks Poised to Beat Estimates
Here are some Basic Materials stocks, which, according to, our model, also have the right combination of elements to post an earnings beat in their upcoming releases.
Piedmont Lithium (PLL - Free Report) , expected to release earnings on Feb 15, has an Earnings ESP of +8.33% and currently sports a Zacks Rank of 1.
The consensus estimate for Piedmont Lithium’s fourth-quarter earnings has been revised to a loss of 36 cents from the loss of 39 cents over the past 30 days.
Quaker Chemical Corporation (KWR - Free Report) , slated to release earnings on Feb 23, has an Earnings ESP of +7.38%.
The Zacks Consensus Estimate for Quaker Chemical’s fourth-quarter earnings is currently pegged at $1.22. KWR currently carries a Zacks Rank of 2.
Celanese Corporation (CE - Free Report) , scheduled to release earnings on Feb 23, has an Earnings ESP of +0.37%.
The Zacks Consensus Estimate for CE’s earnings for the fourth quarter is currently pegged at $1.56. CE currently carries a Zacks Rank of 3.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.