{"id":428392,"date":"2026-08-09T22:42:18","date_gmt":"2026-08-09T22:42:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/428392\/"},"modified":"2026-08-09T22:42:18","modified_gmt":"2026-08-09T22:42:18","slug":"tejon-ranch-swings-to-2-6mil-in-quarterly-profit","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/428392\/","title":{"rendered":"Tejon Ranch swings to $2.6mil in quarterly profit"},"content":{"rendered":"<p class=\"wp-block-paragraph\">Tejon Ranch Co. returned to profitability in the second quarter, reporting $2.6 million in net income attributable to common stockholders.<\/p>\n<p class=\"wp-block-paragraph\">The company earned $0.10 per share during the quarter ending June 30, compared to a loss of $1.7 million, or $0.06 per share, during the same period last year, according to the <a href=\"https:\/\/www.bakersfield.com\/news\/tejon-ranch-posts-2-6m-in-second-quarter-earnings\/article_09f5488b-026d-4180-beb8-d8520dad06d8.html\" rel=\"nofollow noopener\" target=\"_blank\">Bakersfield Californian<\/a>.<\/p>\n<p class=\"wp-block-paragraph\">The big picture: Revenue and other income, including earnings from Tejon Ranch\u2019s unconsolidated joint ventures, rose to $17.4 million.<\/p>\n<p>That marked an increase of $6.3 million from the $11.1 million reported in the second quarter of 2025.<\/p>\n<p>Adjusted EBITDA, a non-GAAP measure of operating performance, increased 47 percent to $8.4 million, up from $5.7 million one year earlier.<\/p>\n<p class=\"wp-block-paragraph\">Driving the news: Commercial and industrial real estate generated $9.7 million in revenue, compared to $5.1 million during the same quarter last year.<\/p>\n<p>The increase was primarily driven by a $6.9 million land sale connected to Tejon Ranch\u2019s new joint venture with Dedeaux Properties.<\/p>\n<p>Tejon Ranch holds a 60 percent economic interest in the partnership, which has started construction on a 510,500-square-foot industrial building at the Tejon Ranch Commerce Center. The building is expected to be completed in early 2027.<\/p>\n<p class=\"wp-block-paragraph\">By the numbers: Tejon Ranch also reported strong occupancy across its real estate portfolio.<\/p>\n<p>The company\u2019s 2.8 million-square-foot industrial portfolio remained fully leased.<\/p>\n<p>Its commercial portfolio was 95 percent leased.<\/p>\n<p>Occupancy at the Outlets at Tejon stood at 92 percent.<\/p>\n<p>Leasing at the Terra Vista apartment community surpassed 80 percent.<\/p>\n<p>The company said outlet traffic increased approximately 25 percent from last year, while sales per square foot rose 11 percent.<\/p>\n<p class=\"wp-block-paragraph\">What they\u2019re saying: Tejon Ranch President and CEO Matthew Walker credited the results to the company\u2019s focus on reducing expenses and using capital more efficiently.<\/p>\n<p>\u201cThis quarter\u2019s improved performance reflects a company executing its plan,\u201d Walker said in the company\u2019s <a href=\"https:\/\/ir.tejonranch.com\/news-releases\/news-release-details\/tejon-ranch-company-announces-second-quarter-2026-financial\" rel=\"nofollow noopener\" target=\"_blank\">earnings release<\/a>.<\/p>\n<p class=\"wp-block-paragraph\">Other segments: Farming revenue increased from $600,000 to $800,000 during the quarter.<\/p>\n<p>Mineral resources revenue rose 20 percent to $1.8 million, while the segment\u2019s operating profit increased 25 percent to $900,000.<\/p>\n<p>Corporate expenses totaled $4.7 million through the first six months of the year, down from $9.1 million during the same period in 2025. Last year\u2019s figure included $3.4 million in nonrecurring expenses.<\/p>\n<p class=\"wp-block-paragraph\">What\u2019s next: Tejon Ranch plans to continue pursuing commercial and industrial development, joint ventures and potential land sales.<\/p>\n<p>The company cautioned that future earnings could fluctuate based on the timing of land sales, leasing activity and commodity prices.<\/p>\n<p>Tejon Ranch reported approximately $79.2 million in available liquidity at the end of the quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"Tejon Ranch Co. returned to profitability in the second quarter, reporting $2.6 million in net income attributable to&hellip;\n","protected":false},"author":2,"featured_media":428393,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[151,153,152],"class_list":["post-428392","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bakersfield","tag-bakersfield","tag-bakersfield-headlines","tag-bakersfield-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/428392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=428392"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/428392\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/428393"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=428392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=428392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=428392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}