Teck Resources misses 4Q profit forecasts

Teck Resources posts 4Q profit of $522.2 million, result misses forecasts

VANCOUVER, British Columbia (AP) _ Teck Resources Ltd. (TECK) on Wednesday reported fourth-quarter net income of $522.2 million, after reporting a loss in the same period a year earlier.

The Vancouver, British Columbia-based company said it had net income of 89 cents per share. Earnings, adjusted for non-recurring costs, came to $1.21 per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.

The mining and oil company posted revenue of $2.66 billion in the period.

For the year, the company reported net income of $779.1 million, or $1.33 per share, swinging to a profit in the period. Revenue was reported as $6.97 billion.

Teck Resources shares have climbed 25 percent since the beginning of the year. The stock has more than quadrupled in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TECK at https://www.zacks.com/ap/TECK

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Keywords: Teck Resources, Earnings Report

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