Teck Resources Ord Shs Class A T.TECK.A

Alternate Symbol(s): TCKRF | TECK | T.TECK.B

Metals & Mining Copper

Teck Resources Limited is a Canadian resource company. The Company operates a portfolio of copper and zinc operations across North and South America. The Company’s operations and projects include Antamina, Cardinal River, Galore Creek Project, Carmen de Andacollo, Highland Valley Copper, Trail Operations, Quebrada Blanca, Carmen de Andacollo, HVC Mine Life Extension Project, Galore Creek Project, NorthMet Project, Mesaba Project, NuevaUnion Project, Red Dog, Sullivan Mine and Trail Operations. The Antamina mine is a copper and zinc mine, located in the Andes Mountain range, 270 kilometers north of Lima, Peru. The deposit is located at an average elevation of 4,200 meters. Its Carmen de Andacollo is located in the Coquimbo Region of central Chile at an elevation of 1,000 meters, approximately 350 kilometers north of Santiago. Its Galore Creek is located within the territory of the Tahltan in northwestern British Columbia, approximately 150 kilometers northwest of Stewart.

TSX:TECK.A - Post by User

Teck Resources Ord Shs Class A

Bullboard Posts

Comment by heckler73on Feb 08, 2011 4:56pm

560 Views

Post# 18096974

RE: RE: Earnings miss

One could just look at the sheet and decide for one's self...

https://www.sys-con.com/node/1708052

                                      Three months ended        Year ended
December 31       December 31
($ in millions)                              2010    2009     2010     2009
---------------------------------------------------------------------------
Earnings attributable to shareholders as
reported (note 1)                          $ 361   $ 411  $ 1,860  $ 1,831
Add (deduct):
Asset and investment sale gains               (2)   (137)    (768)    (320)
Foreign exchange gains on net debt           (25)    (35)     (65)    (561)
Derivative (gains) losses                    (86)     (4)    (153)      36
Refinancing costs                            289       4      658      117
Asset impairment included in equity losses     -      48        -      119
Asset impairment                               -      20        -       20
Tax items                                     11       -       11      (30)
Loss (earnings) from discontinued
operations                                    -       5        -      (81)
-------------------------------
Adjusted earnings                             548     312    1,543    1,131
Pricing adjustments (note 2)                  (38)    (58)     (53)    (207)
-------------------------------

Comparative net earnings                    $ 510   $ 254  $ 1,490  $   924
-------------------------------

(1) Earnings attributable to shareholders are earning less minority
interests in earnings.
(2) See FINANCIAL INSTRUMENTS AND DERIVATIVES section for further
information.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Granted, the MEAN estimate was for $1.16 (I think the low was 90 cents)
so it is technically a miss based on the MEAN...
but still a pretty good profit relative to last year...
although, the market is hardly "rational" so I wouldn't be surprised to see some punishment tomorrow...