Teck reported adjusted profit of $1.81 per share for the three months to March 31, compared with an average analyst estimate of $1.82
The Vancouver-based miner has repeatedly rejected approaches from Swiss miner and trader Glencore, pushing ahead with a proposed restructuring plan that would lead to the spinning off of its metallurgical coal business to focus on copper and zinc.
Teck is scheduled to release results of shareholder votes on its restructuring plan at the annual general meeting later in the day. The vote could be postponed if the company thinks it will not receive enough support. China Investment Corporation , the largest holder of Teck’s common stock, has not disclosed its vote.
Proxy advisory firms ISS and Glass Lewis have recommended that shareholders oppose the plan and Toronto-based Waratah Capital Advisors has said it voted against the move.
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