NYSE$TRC
Tejon Ranch Co · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Tejon Ranch reported Q4 2025 revenues and other income of $23.3M with net income of $1.6M and diluted EPS of $0.06.
Fourth-quarter revenues and other income, including equity in unconsolidated joint ventures, rose 8% to $23.3 million. Net income attributable to common stockholders was $1.6 million ($0.06 per share diluted), down from $4.5 million ($0.17) in Q4 2024. Adjusted EBITDA increased 9% to $11.4 million. Farming segment revenues grew 26% to $12.2 million, and Terra Vista at Tejon Phase 1 leasing reached 71% occupancy. For full-year 2025, revenues and other income were $58.7 million and Adjusted EBITDA $25.3 million, while reported net income was $0.1 million after roughly $3.4 million of one-time proxy defense costs.
- Q4 revenues and other income $23.3M (+8% YoY); net income $1.6M; diluted EPS $0.06.
- Q4 Adjusted EBITDA $11.4M (+9%); farming revenue $12.2M (+26%).
- TRCC industrial and commercial portfolios effectively fully leased; Outlets at Tejon 93% occupied.
- Terra Vista Phase 1 complete with 71% of units leased as of March 19, 2026.
- FY 2025 Adjusted EBITDA $25.3M; net income $0.1M impacted by proxy defense costs.
Headline financials
Revenue & EPS history
Tejon Ranch · Revenue · Quarterly
$23.3M
Revenue by segment
Tejon Ranch · $18.8M total across 3 segments · Q4 2025
- Farming$12.2M—65.1%
- Commercial/Industrial Real Estate$4.22M—22.4%
- Mineral Resources$2.36M—12.5%
Forward guidance
Management focuses on TRCC commercial, industrial, and multifamily development while advancing Centennial and other residential entitlements; 2026 farming faces higher input costs, below-average winter chill, and a pistachio down-bearing year, with net income expected to fluctuate with land sales and commodity timing.
Tailwinds
- Hard Rock Tejon Casino opening boosted TRCC travel-center and outlet sales.
- Strong TRCC occupancy and multifamily lease-up at Terra Vista.
- Selective land sales and Centennial entitlement progress.
- Farming revenues in 2025 were highest in ten years on on-bearing pistachio crop.
Headwinds
- California regulatory and litigation delays for development projects.
- 2026 farming cost inflation and alternate-bearing pistachio down year.
- Net income volatility from timing of land transactions and commodity prices.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2025
-0.3%
Avg return
Earnings day
+0.3%
Avg return
5 days after
-0.7%
Avg return
30 days after
47%
31 / 66 earnings
Positive
+7.7%
Q3 2022
Best reaction
-9.2%
Q3 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.7% | -5.7% | -3.7% | |
| Q4 2025 | +2.9% | +4.5% | +8.7% | |
| Q3 2025 | +0.8% | +1.8% | +0.3% | |
| Q2 2025 | -8.0% | -4.3% | -9.8% | |
| Q1 2025 | -1.3% | -2.6% | -4.2% | |
| Q4 2024 | +4.6% | +3.2% | +2.2% | |
| Q3 2024 | -3.8% | -4.8% | -8.9% | |
| Q2 2024 | -1.1% | +0.9% | +2.0% | |
| Q1 2024 | -5.4% | -2.3% | +2.1% | |
| Q4 2023 | +0.9% | +0.9% | -7.5% | |
| Q3 2023 | -1.5% | -2.8% | +0.2% | |
| Q2 2023 | +0.5% | -0.3% | -5.5% | |
| Q1 2023 | -0.3% | -0.5% | +6.0% | |
| Q4 2022 | -0.3% | -5.1% | -5.6% | |
| Q3 2022 | +7.7% | +8.5% | +14.1% | |
| Q2 2022 | -2.4% | -1.6% | +0.6% | |
| Q1 2022 | -0.3% | -0.5% | -3.5% | |
| Q4 2021 | +1.7% | +1.6% | +4.9% | |
| Q3 2021 | +3.5% | +8.0% | -9.1% | |
| Q2 2021 | +3.1% | +4.8% | +7.0% | |
| Q1 2021 | +0.8% | -2.5% | -2.5% | |
| Q4 2020 | -0.3% | +1.4% | +1.2% | |
| Q3 2020 | +0.1% | -0.1% | +4.5% | |
| Q2 2020 | +0.3% | +2.8% | -5.0% | |
| Q1 2020 | -2.6% | +4.8% | +13.2% | |
| Q4 2019 | +1.2% | +6.7% | +3.5% | |
| Q3 2019 | -0.6% | -2.2% | -3.9% | |
| Q2 2019 | -3.5% | -7.9% | -9.7% | |
| Q1 2019 | -1.0% | -4.6% | -11.9% | |
| Q4 2018 | -2.3% | -1.6% | -6.3% | |
| Q3 2018 | -2.0% | -2.8% | -9.9% | |
| Q2 2018 | -4.6% | -3.6% | -5.9% | |
| Q1 2018 | +1.8% | +0.7% | -1.3% | |
| Q4 2017 | +1.6% | +2.7% | +2.1% | |
| Q3 2017 | +6.0% | +6.2% | +8.9% | |
| Q2 2017 | -1.0% | -2.4% | -3.2% | |
| Q1 2017 | -1.1% | -4.6% | -8.6% | |
| Q4 2016 | -1.0% | +1.7% | -0.7% | |
| Q3 2016 | +2.8% | +19.6% | +27.5% | |
| Q2 2016 | -1.8% | -7.8% | -9.8% | |
| Q1 2016 | -1.7% | — | — | |
| Q4 2015 | +6.6% | — | — | |
| Q3 2015 | -4.6% | — | — | |
| Q2 2015 | +0.2% | — | — | |
| Q1 2015 | -0.5% | — | — | |
| Q4 2014 | -5.0% | — | — | |
| Q3 2014 | -1.7% | — | — | |
| Q2 2014 | +0.5% | — | — | |
| Q1 2014 | -0.8% | — | — | |
| Q4 2013 | +2.8% | — | — | |
| Q3 2013 | -4.3% | — | — | |
| Q2 2013 | +1.3% | — | — | |
| Q1 2013 | +0.1% | — | — | |
| Q4 2012 | +0.4% | — | — | |
| Q3 2012 | -9.2% | — | — | |
| Q2 2012 | +6.0% | — | — | |
| Q1 2011 | -6.1% | — | — | |
| Q1 2012 | +4.8% | — | — | |
| Q4 2009 | +7.0% | — | — | |
| Q4 2011 | +7.0% | — | — | |
| Q3 2010 | +0.8% | — | — | |
| Q3 2011 | +0.8% | — | — | |
| Q2 2011 | -7.4% | — | — | |
| Q4 2010 | -7.4% | — | — | |
| Q2 2010 | -7.4% | — | — | |
| Q1 2010 | +5.4% | — | — |
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