High commodity prices boosted Teck Resources balance sheet as the mining company posted a record quarterly profit more than five times higher than the same period last year.
High commodity prices boosted Teck Resources Ltd.'s balance sheet as the mining company posted a record quarterly profit more than five times higher than the same period last year.
Adjusted profit attributable to shareholders was $1.77 billion or $3.25 per diluted share in its second quarter, compared with $339 million or 63 cents per share in the same quarter of 2021. Teck Resources president and CEO Don Lindsay says the results mark the company's fourth consecutive quarter of record-setting profitability.
“Our solid operational performance, strong balance sheet and $8.4 billion in liquidity all put Teck on a very strong footing as we manage through inflationary pressures and a slowdown in the global economy," Lindsay said in a statement.
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