Tejon Ranch Co
NYSE:TRC
Tejon Ranch Co
Tejon Ranch Co. engages in real estate development and agribusiness. The company is headquartered in Lebec, California and currently employs 90 full-time employees. The Real Estate-Commercial/Industrial segment is engaged in planning and permitting of land held for development; construction of infrastructure; the construction of pre-leased buildings; the construction of buildings to be leased or sold, and the sale of land to third parties for their own development. The Real Estate-Resort/Residential segment activities include land entitlement, land planning and pre-construction engineering and conservation activities. The Mineral Resources segment includes oil and gas royalties, rock and aggregate royalties, royalties from a cement operation leased, and the management of water assets and water infrastructure. The Farming Operations segment farm permanent crops, including the wine grapes, almonds and pistachios. The Ranch Operations segment consists of game management and ancillary land uses, such as grazing leases and filming.
Tejon Ranch Co. engages in real estate development and agribusiness. The company is headquartered in Lebec, California and currently employs 90 full-time employees. The Real Estate-Commercial/Industrial segment is engaged in planning and permitting of land held for development; construction of infrastructure; the construction of pre-leased buildings; the construction of buildings to be leased or sold, and the sale of land to third parties for their own development. The Real Estate-Resort/Residential segment activities include land entitlement, land planning and pre-construction engineering and conservation activities. The Mineral Resources segment includes oil and gas royalties, rock and aggregate royalties, royalties from a cement operation leased, and the management of water assets and water infrastructure. The Farming Operations segment farm permanent crops, including the wine grapes, almonds and pistachios. The Ranch Operations segment consists of game management and ancillary land uses, such as grazing leases and filming.
First Earnings Call: This was Tejon Ranch's inaugural quarterly earnings call, signaling a new commitment to transparency and direct shareholder engagement.
Profit Turnaround: The company reported net income of $1.7 million versus a $1.8 million loss last year, with EPS of $0.06 per share.
Revenue Growth & Cost Cuts: Revenue rose 10% year-over-year to $12 million while costs declined nearly 5%, driven mainly by strong farming results.
Farming Rebound: Farming segment revenue rose over 50% year-over-year, with operating losses reduced by 40%, reflecting improved production and cost controls.
High Leasing Rates: The Tejon Ranch Commerce Center industrial portfolio is 100% leased, commercial is 95% leased, and outlets are at 90% occupancy.
Overhead Reduction: Management announced a workforce reduction that cut headcount by 20%, saving more than $2 million annually.
Cash Position & Capital: The company closed the quarter with $21 million in cash and $68 million in credit availability, and a debt to capitalization ratio of about 16%.
Future Strategy: Management highlighted disciplined capital allocation, ongoing joint ventures, and plans to further develop both industrial and residential assets.
