Teck Resources (TECK) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

July 27, 2022 11:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

All participants, thank you for standing by. Welcome to Teck’s Second Quarter 2022 Earnings Release Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. This conference call is being recorded on Wednesday, July 27, 2022.

I would now like to turn the conference call over to Fraser Phillips, Senior Vice President, Investor Relations and Strategic Analysis. Please go ahead.

Fraser Phillips

Thanks, Patrick. Good morning, everyone, and thank you for joining us for Teck’s second quarter 2022 results conference call. Please note today’s call contains forward-looking statements. Various risks and uncertainties may cause actual results to vary. Teck does not assume the obligation to update any forward-looking statements. Please refer to slide 2 for the assumptions underlying our forward-looking statements. In addition, we will reference various non-GAAP measures throughout this call. Explanations and reconciliations regarding these measures could be found in our MD&A, the latest press release on our website.

Today’s conference call is not quite an ordinary call. Not only have we reported our fourth consecutive quarter of record-setting profitability, as you know, we’ve announced President and CEO succession. So, our format will be slightly different today.

To begin, Don and then Jonathan will make some opening comments. They will then take us through our regular quarterly results presentation, followed by Q&A. We’ll then end with Don’s closing remarks. With that, for one last time, I will hand the call over to Don Lindsay, our President and CEO.

Don Lindsay

Well, thank you very much, Fraser, and good morning, everyone. Welcome to the second quarter call.

As I guess you all know, yesterday, I announced my retirement from Teck. This will officially be the 71st quarterly earnings call that I’ve led since 2005 and my final one with Teck. And as such, I’m going to make a few opening comments about my decision and the transition and then a little bit of reflection about my last 17-plus years in the industry and at Teck. And then, I’ll turn it over to Jonathan Price, our new CEO elect, for him to make some remarks. And when we get to the Q&A today, since this is my last time, you’re welcome to ask me anything. This is your ask me anything moment, and I will try to answer, though, as you will understand, I may be precluded from answering some questions.