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Tejon Ranch Q3 revenue nearly doubles on crop gains

By Reuters News


Overview

  • US real estate and agribusiness firm's Q3 revenue nearly doubled yr/yr, driven by crop sales, insurance proceeds

  • Net income for Q3 rose yr/yr

  • Adjusted EBITDA for Q3 nearly doubled from prior-year period


Outlook

  • Company expects to continue commercial and industrial development, including joint ventures and land sales

  • Tejon Ranch continues to advance proposed residential communities and leverage landholdings for value

  • Company says net income will fluctuate due to timing of land sales, leasing, and commodity prices


Result Drivers

  • FARMING WINDFALLS - Q3 benefited from unusually large crop insurance proceeds and prior-year pistachio pricing adjustments

  • HARVEST TIMING - Accelerated wine grape harvest shifted sales into Q3, while almond yields were negatively affected by weather

  • MINERAL REVENUES - Higher rock, aggregate royalties and water sales lifted mineral resources segment


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$22.61 mln

$11.99 mln (1 Analyst)

Q3 EPS

$0.12

Q3 Net Income

$3.30 mln

Q3 Adjusted EBITDA

$10.40 mln

Q3 Operating Income

$2.37 mln

Q3 Pretax Profit

$4.74 mln


Reuters Recommended Reads

  • Nov 4 - Scotts Miracle-Gro FY sales up 1%

  • Nov 3 - StoneX raises US 2026 corn and soybean yield estimates

  • Nov 4 - Seneca Foods Q2 revenue rises on on higher prices and volume


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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