Teck shares (TSX:TCK.B) gained $3.11 to $51.88 in afternoon trading on TSX – Dominion Lending Centres Clearlease
MONTREAL, QUEBEC – (April 20, 2011) Clearlease.com Reports Teck Resources Ltd.’s (TSX:TCK.B) stock gained more than six per cent on Tuesday, after the Vancouver-based mining giant reported better-than-expected revenue during a first quarter marked by labour, weather and other operational troubles.
Teck shares (TSX:TCK.B) gained $3.11 to $51.88 in afternoon trading on TSX
Late Monday, the coal, zinc and copper producer said it earned $461 million, or 78 cents per share, during the first three months of 2011, down from $896 million, or $1.52 per share, during the same period last year.
Adjusted for one-time items, Teck’s profits were $450 million, or 76 cents per share, more than double the $198 million, or 34 cents per share, it reported a year earlier.
Analysts surveyed by Thomson Reuters had on average forecast earnings per share of 76 cents, within a wide range of between 66 cents and $1.02.
Revenues rose to nearly $2.4 billion from $1.9 billion, beating average analysts’ estimates of $2.2 billion and were at the high end of a range of between $1.55 billion and $2.4 billion.
“Given the challenges that we had this quarter, we are pleased with the results,” Teck chief executive officer Don Lindsay told a conference call with analysts.
A strike at Teck’s Elkview coal mine in southeastern British Columbia that lasted more than two months led to a production cut of about one million tonnes. A new labour agreement was reached this month, and production resumed on April 8.
Severe cold and enormous snowfall in the B.C. Interior this winter also crimped how much coal could move to market, Lindsay added, calling the quarter “miserable” when it came to weather.
“Although this was a very challenging quarter for us from an operational point of view — particularly in coal — we usually expect that in Q1 and I guess this quarter more than lived up to that,” Lindsay said.
“We are glad to have the quarter behind us and we look forward to continuing to ramp up our production.”
Despite the headwinds, Teck’s first-quarter coal sales of five million tonnes topped its most recent forecast range of 4.6 tonnes to 4.9 million tonnes. Lindsay attributed the result to strong shipping performance.
Taking into account the Elkview strike and the bad winter weather, Teck said it expects coal sales for all of 2011 to fall between 23.5 and 24.5 million tonnes.
It said it expects the devastating earthquake and tsunami in Japan last month to have minimal impact on demand for copper, steelmaking coal and zinc.
The company also said it has set out a 2011 capital budget of about $1.5 billion, with coal and copper development comprising the biggest chunks.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease / Clearlease.com ) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending / Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900,
555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
MONTREAL, QUEBEC – (April 20, 2011) Clearlease.com Reports Teck Resources Ltd.’s (TSX:TCK.B) stock gained more than six per cent on Tuesday, after the Vancouver-based mining giant reported better-than-expected revenue during a first quarter marked by labour, weather and other operational troubles.
Teck shares (TSX:TCK.B) gained $3.11 to $51.88 in afternoon trading on TSX
Late Monday, the coal, zinc and copper producer said it earned $461 million, or 78 cents per share, during the first three months of 2011, down from $896 million, or $1.52 per share, during the same period last year.
Adjusted for one-time items, Teck’s profits were $450 million, or 76 cents per share, more than double the $198 million, or 34 cents per share, it reported a year earlier.
Analysts surveyed by Thomson Reuters had on average forecast earnings per share of 76 cents, within a wide range of between 66 cents and $1.02.
Revenues rose to nearly $2.4 billion from $1.9 billion, beating average analysts’ estimates of $2.2 billion and were at the high end of a range of between $1.55 billion and $2.4 billion.
“Given the challenges that we had this quarter, we are pleased with the results,” Teck chief executive officer Don Lindsay told a conference call with analysts.
A strike at Teck’s Elkview coal mine in southeastern British Columbia that lasted more than two months led to a production cut of about one million tonnes. A new labour agreement was reached this month, and production resumed on April 8.
Severe cold and enormous snowfall in the B.C. Interior this winter also crimped how much coal could move to market, Lindsay added, calling the quarter “miserable” when it came to weather.
“Although this was a very challenging quarter for us from an operational point of view — particularly in coal — we usually expect that in Q1 and I guess this quarter more than lived up to that,” Lindsay said.
“We are glad to have the quarter behind us and we look forward to continuing to ramp up our production.”
Despite the headwinds, Teck’s first-quarter coal sales of five million tonnes topped its most recent forecast range of 4.6 tonnes to 4.9 million tonnes. Lindsay attributed the result to strong shipping performance.
Taking into account the Elkview strike and the bad winter weather, Teck said it expects coal sales for all of 2011 to fall between 23.5 and 24.5 million tonnes.
It said it expects the devastating earthquake and tsunami in Japan last month to have minimal impact on demand for copper, steelmaking coal and zinc.
The company also said it has set out a 2011 capital budget of about $1.5 billion, with coal and copper development comprising the biggest chunks.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease / Clearlease.com ) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending / Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900,
555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###Teck shares (TSX:TCK.B) gained $3.11 to $51.88 in afternoon trading on TSX – Dominion Lending Centres Clearlease
MONTREAL, QUEBEC – (April 20, 2011) Clearlease.com Reports Teck Resources Ltd.’s (TSX:TCK.B) stock gained more than six per cent on Tuesday, after the Vancouver-based mining giant reported better-than-expected revenue during a first quarter marked by labour, weather and other operational troubles.
Teck shares (TSX:TCK.B) gained $3.11 to $51.88 in afternoon trading on TSX
Late Monday, the coal, zinc and copper producer said it earned $461 million, or 78 cents per share, during the first three months of 2011, down from $896 million, or $1.52 per share, during the same period last year.
Adjusted for one-time items, Teck’s profits were $450 million, or 76 cents per share, more than double the $198 million, or 34 cents per share, it reported a year earlier.
Analysts surveyed by Thomson Reuters had on average forecast earnings per share of 76 cents, within a wide range of between 66 cents and $1.02.
Revenues rose to nearly $2.4 billion from $1.9 billion, beating average analysts’ estimates of $2.2 billion and were at the high end of a range of between $1.55 billion and $2.4 billion.
“Given the challenges that we had this quarter, we are pleased with the results,” Teck chief executive officer Don Lindsay told a conference call with analysts.
A strike at Teck’s Elkview coal mine in southeastern British Columbia that lasted more than two months led to a production cut of about one million tonnes. A new labour agreement was reached this month, and production resumed on April 8.
Severe cold and enormous snowfall in the B.C. Interior this winter also crimped how much coal could move to market, Lindsay added, calling the quarter “miserable” when it came to weather.
“Although this was a very challenging quarter for us from an operational point of view — particularly in coal — we usually expect that in Q1 and I guess this quarter more than lived up to that,” Lindsay said.
“We are glad to have the quarter behind us and we look forward to continuing to ramp up our production.”
Despite the headwinds, Teck’s first-quarter coal sales of five million tonnes topped its most recent forecast range of 4.6 tonnes to 4.9 million tonnes. Lindsay attributed the result to strong shipping performance.
Taking into account the Elkview strike and the bad winter weather, Teck said it expects coal sales for all of 2011 to fall between 23.5 and 24.5 million tonnes.
It said it expects the devastating earthquake and tsunami in Japan last month to have minimal impact on demand for copper, steelmaking coal and zinc.
The company also said it has set out a 2011 capital budget of about $1.5 billion, with coal and copper development comprising the biggest chunks.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease / Clearlease.com ) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending / Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900,
555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###