Teck Resources beats top-line and bottom-line estimates; updates FY26 outlook

• Teck Resources press release (TECK): Q3 Non-GAAP EPS of C$1.88 beats by C$0.30.
• Revenue of C$4.52B (+33.7% Y/Y) beats by C$180M.
• "We generated significant cash flow from operations of $1.6 billion, which increased our net cash¹ position by $655 million in Q3 2026."
• Our liquidity as at September 30, 2026 was $10.9 billion, including $6.7 billion of cash.
• Copper production volumes of 115,700 tonnes were 11% higher than the same period last year.
• "Our 2026 annual copper net cash unit cost guidance has been reduced as a result of strong by-product pricing year-to-date. Our 2026 annual zinc total cash unit cost¹ and net cash unit cost¹ guidance has also been reduced as a result of strong cost performance and pricing for by-products."

• 2026 Guidance – Summary	Current
  Production Guidance
  Copper (000’s tonnes)	455 – 530
  Zinc (000’s tonnes)	410 – 460
  Refined zinc (000’s tonnes)	190 – 230
  Sales Guidance – Q4 2026
  Red Dog zinc in concentrate sales (000’s tonnes)	65 – 75
  Unit Cost Guidance
  Copper net cash unit costs (US$/lb.)1	1.80 – 2.00
  Zinc net cash unit costs (US$/lb.)1	0.30 – 0.40

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