Teck Resources' (TECK) Q4 Earnings & Revenues Lag Estimates
Zacks Investment Research | Feb 24, 2020 07:31AM ET
Teck Resources Ltd (NYSE:TECK) delivered adjusted earnings of 31 cents per share in fourth-quarter 2019, missing the Zacks Consensus Estimate of 35 cents. The earnings figure also came in lower than year-ago quarter’s 65 cents per share.
Quarterly results reflected the impact of weak commodity markets for the company’s principal products and unfavorable weather conditions in British Columbia.
Including one-time items, the company reported a loss per share of $1.23 compared with earnings per share of 57 cents in the prior year quarter.
Net sales of $2,011 million for the quarter slid 18.2% year over year, missing the Zacks Consensus Estimate of $2,075 million.
Gross profit, before depreciation and amortization, plunged 38% year over year to $663 million, mainly due to decline in steelmaking coal prices. Overall gross margin came in at 33% compared with the year-ago quarter’s 44%.
Adjusted EBITDA was $491.6 million, down 48.3% from the prior-year quarter. EBITDA margin was 24% in the quarter compared with the year-earlier quarter’s 39%.
Teck Resources Ltd Price, Consensus and EPS Surprise
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