The Q2 beat was heavily influenced by a one-time $6.9M land sale, which is not recurring. Monitor the Q3 filing for organic revenue growth from the stabilized commercial portfolio and mineral resources segments, and watch for any update on the Centennial litigation expense line.
Price Chart
Executive Summary
Tejon Ranch Co. reported Q2 2026 net income of $2.6M ($0.10/share), a significant improvement from a $1.7M loss in Q2 2025, driven by a $6.9M land sale and disciplined cost management. Total revenue surged 72% YoY to $14.3M, and Adjusted EBITDA grew 47% to $8.4M. The beat was driven by a one-time land sale, but the underlying operational momentum in commercial real estate and mineral resources is positive, though farming remains a drag.
Key Financial Metrics
Key Facts
- Net income attributable to common stockholders was $2.6M ($0.10/share) vs a loss of $1.7M ($0.06/share) in Q2 2025.
- Total revenues increased 72% to $14.3M from $8.3M, driven by a $6.9M land sale in the commercial/industrial segment.
- Adjusted EBITDA grew 47% to $8.4M from $5.7M in the prior-year quarter.
- Year-to-date corporate expenses were cut to $4.7M from $9.1M, a 48% reduction.
- The TRCC industrial portfolio remains 100% leased, and the new Building 1B JV (60% owned) is on track for early 2027 delivery.
- Mineral resources segment revenue grew 20% to $1.8M, with operating profit up 25% to $0.9M.
- Total liquidity was $79.2M, including $15.1M in cash/securities and $64.1M available on its line of credit.
Financial Impact
EPS of $0.10 vs consensus of $0.02 represents a 400% beat; revenue of $14.3M vs consensus of $8.6M is a 66% beat
Risk Factors
- One-time $6.9M land sale inflates Q2 revenue comparability; organic growth may be lower in subsequent quarters.
- Farming segment continues to operate at a loss, with revenue declining year-over-year on a six-month basis.
- Net debt (revolver of $95.9M) remains elevated relative to cash and securities of $15.1M.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-336791 |
| Document: d179167d8k.htm | 0001193125-26-336791 |
| Document: 0001193125-26-336791-index-headers.html | 0001193125-26-336791 |
| Document: 0001193125-26-336791-index.html | 0001193125-26-336791 |
| Document: 0001193125-26-336791.txt | 0001193125-26-336791 |
| 8-K Data (Synthetic) | 0001193125-26-336791 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 19d ago | SC 13G/A | $16.40 | awaiting T+20 | awaiting T+20 | $16.35 (−0.30%) |
Aug 6, 2026 11w ago | 8-K | $16.46 $16.17 | ▼ −1.76% | ▼ −2.36% | $16.35 (−0.67%) |
May 7, 2026 24w ago | 8-K | $20.48 $18.88 | ▼ −7.81% | ▼ −10.95% | $16.35 (−20.17%) |
May 7, 2026 24w ago | Press Release | $20.48 $18.88 | ▼ −7.81% | ▼ −10.95% | $16.35 (−20.17%) |
Apr 3, 2026 29w ago | DEFA14A | $19.22 $19.88 | ▲ +3.43% | ▼ −5.55% | $16.35 (−14.93%) |
Mar 19, 2026 31w ago | Press Release | $18.69 $19.83 | ▲ +6.10% | ▼ −1.52% | $16.35 (−12.52%) |
Mar 5, 2026 33w ago | 8-K | $17.92 $19.22 | ▲ +7.25% | ▲ +9.30% | $16.35 (−8.76%) |
Mar 5, 2026 33w ago | Press Release | $17.92 $19.22 | ▲ +7.25% | ▲ +9.30% | $16.35 (−8.76%) |
US Market Status
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