Teck Resources misses 4Q profit 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.


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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