Real estate developer Tejon Ranch swings to Q3 profit, cuts 20% jobs

Tejon Ranch Co

06/11/2025 11:23

Overview

Tejon Ranch Q3 revenue up 34%, beats analyst expectations, driven by strong farming performance

Net income for Q3 was $1.7 mln, reversing a loss from the previous year

Company reduces workforce by 20% to save $2 mln annually

Outlook

Tejon Ranch to focus on commercial/industrial and multi-family development at TRCC

Company anticipates net income fluctuations due to land sales and commodity prices

Water sales opportunities in 2025 influenced by hydrologic conditions and SWP allocations

Result Drivers

FARMING REVENUE - Farming segment revenues increased by 34% to $4.3 mln, contributing to positive Q3 results

WORKFORCE REDUCTION - In Oct, Co reduced workforce by 20% for annual savings of $2 mln, part of cost-cutting measures

TERRA VISTA LEASE-UP - Terra Vista residential community at TRCC is on schedule, with 55% of delivered units leased

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$11.97 mln
$9.53 mln (1 Analyst)
Q3 EPS
$0.06
Q3 Net Income
$1.67 mln
Q3 Adjusted EBITDA
$5.30 mln
Q3 Operating Income
-$2.02 mln
Q3 Pretax Profit
$699,000


Analyst Coverage

Wall Street's median 12-month price target for Tejon Ranch Co is $26.25, about 39.2% above its November 5 closing price of $15.97

Press Release: ID:nGNX5QQ0PY

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)