10-K · March 19, 2026
Tejon Ranch reported consolidated revenues of $49.59M in 2025 (up from $41.89M in 2024), driven by TRCC commercial/industrial activity and higher farming revenue. The industrial portfolio was 100% leased and commercial…
Earnings analysis · 10-Q
TRC earnings analysis
Filed May 11, 2026 · Our reading of the company's report
The latest report
Tejon Ranch Co. reported Q1 2026 earnings with revenue of $9.5 million, significantly exceeding estimates of $8.75 million. EPS was $0.01, reflecting an improvement from a loss of $0.05 in the prior-year quarter, driven…
Read full summary
Tejon Ranch Co. reported Q1 2026 earnings with revenue of $9.5 million, significantly exceeding estimates of $8.75 million. EPS was $0.01, reflecting an improvement from a loss of $0.05 in the prior-year quarter, driven by growth in mineral resources revenue and decreased operating expenses.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.01
- Segment
- Real Estate - Commercial/Industrial
- Segment
- Multifamily
- Segment
- Resort/Residential
- Segment
- Mineral Resources
- Segment
- Farming
- Segment
- Ranch Operations
What stood out
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Strong Revenue Beat
Revenue totaled $9.5 million, exceeding estimates of $8.75 million by 8.5%.
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Positive EPS Surprise
Reported EPS of $0.01, compared to an estimate of -$0.02.
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Mineral Resources Revenue Growth
Mineral resources revenue increased by $938,000, or 36%, driven by higher water sales.
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Improved Operating Income
Net income of $151,000 compared to a loss of $1.464 million in 2025.
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Reduced Corporate Expenses
Corporate expenses decreased by $2.35 million due to lower compensation and non-recurring items.
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Capital Management Strategy
Expect to utilize $12.362 million for TRCC infrastructure and facilitate ongoing development.
What to watch
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Regulatory Risks in California
Increased regulatory scrutiny in California may impact future operations and developments.
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Market Vulnerabilities for Farming
Farming revenues dropped by 42%, primarily due to decreased almond sales volume.
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Dependence on Water Availability
California's evolving groundwater regulations may affect agricultural operations.
Management's outlook
No explicit numeric guidance provided; outlook discusses operational challenges and potential capital needs.
Earlier filings 4
10-Q · November 6, 2025
Tejon Ranch reported Q3 revenue of $11,969,000 and GAAP diluted EPS of $0.06, driven by stronger farming and relatively stable mineral and commercial/industrial revenues. Operating loss narrowed to $(2,024,000) for the…
10-Q · August 7, 2025
Revenue rose to $8.307M in Q2 2025 (up $2.618M vs Q2 2024) and gross/operating margins improved to -48.8% from -62.4% a year ago, but the company reported a net loss and EPS of $(0.06) vs $0.04 in Q2 2024. Cash balances…
10-K · March 6, 2025
Tejon Ranch’s 2024 10-K emphasizes continued execution at the Tejon Ranch Commerce Center (TRCC) and the start of its first residential project, Terra Vista (first phase: 228 units on a 22-acre site; approved for up to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.