Q4 2025 Teck Resources Ltd Earnings Call Transcript

Feb 19, 2026 / 04:00 PM GMT

Release Date Price: €48.67 (-2.17%)

Transcript

Key Points

Positve

Teck Resources Ltd (TECK) announced a transformational merger with Anglo-American, positioning it as a top 5 global copper producer.
The company reported an 81% increase in adjusted EBITDA for Q4 2025, driven by higher copper prices and increased by-product revenue.
Teck Resources Ltd (TECK) achieved a significant improvement in safety performance, with a 50% reduction in high potential incident frequency rate.
The company reached 100% renewable power in Chile, enhancing its sustainability credentials.
Teck Resources Ltd (TECK) returned $1.3 billion to shareholders through share buybacks and dividends in 2025.

Negative

Teck Resources Ltd (TECK) experienced two fatal incidents at Antamina in 2025, highlighting ongoing safety challenges.
The company reported lower sales volumes in Q4 2025 due to weather-related delays impacting shipments.
There was a decrease in zinc segment gross profit by 55% compared to the previous year, due to lower sales volumes.
Teck Resources Ltd (TECK) expects elevated deferred stripping levels at Highland Valley until 2028, impacting cash flow.
The company faces significant capital expenditure requirements in 2026, with peak spending expected for TMF development and the Highland Valley Mine Life Extension project.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TECKb.TO - Teck Resources Ltd
Q4 2025 Teck Resources Ltd Earnings Call
Feb 19, 2026 / 04:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by. Welcome to Tech 4th quarter 2025 earnings release conference call. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session. To join the question queue, press star, then 1 on your touchstone phone.

Should anyone need assistance during the conference call?

You may signal an operator by pressing, then 0 on your telephone.

This conference call is being recorded on Thursday, February 19, 2,022,026. I would now like to turn the conference over to Emma Chapman, Vice President, Investor relations. Please go ahead.

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