Sodexo Canada: The global leader who believes the difference a day makes
Founded in Marseille in 1966, and now operating in 53 countries, Sodexo provides facilities services that drive positive
Barclay Restorations DKI: The longest running insurance restoration company in Greater Vancouver
Locally owned-and operated and serving Metro Vancouver and the Fraser Valley, Barclay Restorations DKI is a full-service restoration CDW Canada: Helping small businesses use IT security to prepare, defend, and respond
Established in 2003, CDW Canada is a leading provider of technology solutions for business, government, education, and healthcare, Stamped Engineering Corporation: High quality, fit for purpose engineering services
Specializing in design engineering that is customized to the needs of the client, Stamped Engineering Corporation is a Alpine Building Maintenance: Customized cleaning solutions
Founded in 1980 in the interior of British Columbia, family-owned building services company Alpine Building Maintenance has evolved Case Design/Remodeling Halifax: Flawless design and execution
With two decades of experience, Case Design/Remodeling is a design-build renovation, remodeling, project and construction management team serving Weston Wood Solutions: One of Canada’s fastest growing companies
An innovative supplier of lumber and engineered wood products to window and door manufacturers in the Americas, Europe CDW Canada: Helping organizations navigate a complex IT market
Established in 2003, CDW Canada is a leading provider of technology solutions for business, government, education, and healthcare,-
Reclaiming Canada’s key service export: Tourism
Tourism is an increasingly dynamic sector of the global economy; pre-2019 tourism was a $1.4 trillion industry generating Concerning signs for Canada’s construction sector in 2023
Coming into 2022, construction contractors had never been more optimistic about the state of the industry. Independent Contractors Strengthening your organization through sustainability & ESG
It’s no secret that organizations are increasingly feeling the pressure to respond to social and environmental imperatives. More 55% of provincial healthcare budgets will be for seniors by 2030
Canada’s straining health care system is dominating headlines, as provinces pit themselves against the federal government in a Spymasters, conspiracies, the PRC, & Dong Jingwei
The tensions currently exposed between the People’s Republic of China (PRC) and the United States, let alone the Digital transformations on the wrong end of the stick
There’s a growing body of evidence demonstrating technology-led digital transformations are overpromising and under-delivering returns on investment for It’s impossible to tackle climate change without nuclear
The task of tackling climate change is mammoth. It requires an ‘all-in’ approach among Canada’s business leaders, governments, Inflation: Demand creates its own supply
The point has to be made that while we clearly have a stickier inflation situation on our hands,
Teck Reports Unaudited Third Quarter Results for 2017
Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) reported adjusted profit attributable to shareholders of $621 million ($1.08 per share) in the third quarter compared with $152 million ($0.26 per share) a year ago.
“We are very pleased with our performance in the third quarter,” said Don Lindsay, President and CEO. “We achieved strong operating results with our second highest quarterly sales for steelmaking coal and record zinc production at Antamina for the second consecutive quarter. With these strong operating results and favourable prices, our adjusted EBITDA was $1.4 billion, just over $700 million higher than in the third quarter of last year.”
Highlights and Significant Items
Adjusted profit was $621 million ($1.08 per share) in the third quarter compared with $152 million ($0.26 per share) in the third quarter of last year. Profit attributable to shareholders was $600 million ($1.04 per share) in the third quarter compared with $234 million ($0.41 per share) a year ago.
Adjusted EBITDA for the 12 months ended September 30, 2017 was $6.1 billion, which was $153 million higher than our previous twelve-month record of approximately $5.9 billion set in 2011.
EBITDA was $1.4 billion in the third quarter compared with $804 million in the third quarter of 2016. Our adjusted EBITDA in the third quarter totaled $1.4 billion compared with $696 million last year.
Gross profit was $1.1 billion in the third quarter compared with $452 million a year ago. Gross profit before depreciation and amortization was $1.5 billion in the third quarter compared with $817 million in the third quarter of 2016.
We achieved record total material movement at our steelmaking coal business unit, moving over 79 million bank cubic meters (BCM’s) in the quarter. Third quarter steelmaking coal sales reached 7.54 million tonnes, our second highest quarterly sales on record. We expect our steelmaking coal sales to be approximately 6.5 million tonnes in the fourth quarter.
Antamina achieved record zinc production for the second consecutive quarter of 102,300 tonnes.
Construction progress on the Fort Hills oil sands project has surpassed 96%. In order to accelerate commissioning, the Fort Hills plant initiated froth production in the quarter, which required operating the mine, ore preparation, primary extraction tailings and utilities areas.
In September, we announced an increase in our zinc production guidance for our Red Dog operation. Red Dog’s zinc production for 2017 is now expected to be in the range of 525,000 to 550,000 tonnes, up from the prior guidance range of 475,000 to 500,000 tonnes.
The Red Dog concentrate shipping season is expected to be completed in the first week of November. We expect to ship approximately 1.0 million tonnes of zinc concentrate and 210,000 tonnes of lead concentrate representing all of the concentrate available to be shipped from the operation.
In early October, they received approval to make a normal course issuer bid to purchase our Class B subordinate voting shares (Class B shares). We may purchase up to 20 million Class B shares during the period starting October 10, 2017 and ending October 9, 2018.
For the eighth straight year, we have been named to the Dow Jones Sustainability World Index (DJSI), indicating that our sustainability practices are in the top 10% of the 2,500 largest companies in the S&P Global Broad Market Index (BMI).
Our liquidity remains strong at approximately $4.9 billion, including US$3.0 billion of undrawn, committed credit facilities and over $1.0 billion of cash at October 25, 2017.
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