Tejon Ranch Co. reported its third‑quarter 2025 financial results, turning a $1.8 million loss in the same period last year into a $1.7 million net income, or $0.06 per share. The turnaround was largely driven by a 34% jump in farming revenue to $4.3 million, up from $3.2 million in Q3 2024, which contributed roughly $2 million to the year‑to‑date earnings recovery.
Total revenue for the quarter rose modestly to $14.7 million, a 0.7% increase from $14.6 million in Q3 2024. The growth was largely offset by a slight contraction in adjusted EBITDA, which fell to $5.3 million from $5.6 million year‑over‑year. The margin compression reflects higher input costs and the impact of one‑time restructuring charges associated with the company’s workforce reduction program.
The workforce reduction, announced in October 2025, cut headcount by about 20% and is expected to generate $2 million in annualized savings across all segments. Management described the move as a disciplined shift to align costs with the company’s long‑term growth strategy. The cost‑control effort helped offset the margin pressure from the farming rebound and the modest revenue growth.
Real‑estate operations remained stable. The industrial portfolio at Tejon Ranch Commerce Center stayed fully leased, while the first residential community, Terra Vista at Tejon, had 55% of its 180 delivered units leased as of September 30 2025, indicating steady progress in the master‑planned community pipeline. These real‑estate results provided a solid foundation for the company’s diversified business model.
CEO Matthew Walker said, “We had a strong quarter, driven by a rebound in farming and steady results across our core operating segments.” He added that the workforce reduction would deliver the projected $2 million in annualized savings and that the company remains focused on advancing its community development plans and capitalizing on the upcoming Hard Rock Tejon Casino opening on November 13 2025, which is expected to boost activity and revenue.
No forward‑looking guidance was disclosed in the earnings release, and market reaction data were not available in the fact‑check sources. The company’s return to profitability and the strong performance of its farming segment signal resilience amid modest real‑estate growth and ongoing cost‑control initiatives.
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