(Vancouver) Teck Resources posted a loss for its most recent quarter on Thursday, largely due to a one-time charge related to the sale of its interest in the Fort Hills oil sands project to Suncor Energy.
Posted at 12:38 p.m.
The miner posted a loss of 195 million, or 37 cents per share, for its third quarter ended September 30. That compared to a profit of $816 million, or $1.51 per share, for the same period last year.
Quarterly revenue totaled 4.67 billion, up from 3.97 billion in the third quarter of last year.
Those results included a $952 million impairment charge related to the sale of Teck’s 21.3% stake in the Fort Hills project to Suncor for about $1 billion.
On an adjusted basis, Teck earned a profit of $923 million, or $1.74 per share, for its most recent quarter, compared to an adjusted profit of nearly $1.02 billion, or $1.88 per share, during the same period a year earlier.