| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 14.26 | 50.1% | 71.6% |
| Total Income | 14.26 | 50.1% | 71.6% |
| Expenditure | 13.91 | 30.9% | 12.5% |
| PBT | 3.48 | 1557.1% | 371.9% |
| Net Profit | 2.64 | 1660.0% | 254.4% |
| OPM | 2.44% | 14.34pp | 51.26pp |
| NPM | 18.48% | 16.89pp | 39.09pp |
| EPS | 0.10 | 900.0% | 266.7% |
Tejon Ranch Co. Announces Second Quarter 2026 Financial Results
06 Aug 2026 · 6 Aug, 5:34 pm
Summary
Tejon Ranch Co. reported a significant improvement in its second quarter 2026 financial results, with net income attributable to common stockholders reaching $2.6 million, a substantial increase from a loss of $1.7 million in the prior-year period. Revenues and other income grew by $6.3 million to $17.4 million, while Adjusted EBITDA rose by $2.7 million to $8.4 million, reflecting disciplined cost management and strategic transactions. Management highlighted the company's execution of its strategy, with growth across multiple segments including multifamily, mineral resources, and agribusiness, and noted positive leasing momentum and fully leased industrial portfolios.
Key Highlights
- 1
Net income attributable to common stockholders increased by $4.3 million to $2.6 million ($0.10 per share) in the second quarter of 2026, compared to a loss of $1.7 million ($0.06 per share) in the second quarter of 2025.
- 2
Revenues and other income, including equity in earnings of unconsolidated joint ventures, increased by $6.3 million to $17.4 million in Q2 2026, compared to $11.1 million in Q2 2025.
- 3
Adjusted EBITDA increased by $2.7 million to $8.4 million in Q2 2026, compared to $5.7 million in Q2 2025.
- 4
Commercial/Industrial segment revenues increased $4.6 million to $9.7 million in Q2 2026, driven primarily by a $6.9 million land sale associated with the Dedeaux Properties joint venture.
- 5
The TRCC industrial portfolio remains 100% leased, consisting of 2.8 million square feet of GLA.
- 6
Mineral resources segment revenues increased 20% to $1.8 million in Q2 2026, with segment operating profit increasing 25% to $0.9 million.
- 7
Construction commenced on Building 1B at TRCC through the Company’s 60-40 joint venture with Dedeaux Properties, adding approximately 510,500 square feet of Class-A capacity upon completion in early 2027.
Management Comments
Matthew Walker
Last year we committed to a clear strategy of cost discipline and capital efficiency, and this quarter’s improved performance reflects a company executing its plan. Compared to the prior year, we’ve cut corporate expenses and grown Adjusted EBITDA approximately 47%. Revenue benefited from the Dedeaux land sale, a transaction that also launches a new industrial joint venture at Tejon Ranch Commerce Center in which we hold a 60% economic interest, while our multifamily, mineral resources, and ranch operations segments all grew. Terra Vista continues to stabilize, with leasing now surpassing 80%, and our TRCC industrial portfolio remains fully leased. The discipline we’ve imposed and momentum we’re seeing position the Company to accelerate, as our investments mature and new opportunities emerge across the Ranch.
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