Overview

* Tejon Ranch ( TRC ) Q2 revenue rises to $11.1 mln, beating analyst expectations

* Company reports Q2 net loss of $1.7 mln due to proxy contest costs

* Adjusted EBITDA for Q2 increases to $5.7 mln from $5.1 mln in 2024

Outlook

* Company expects net income to fluctuate due to external factors

* Tejon Ranch ( TRC ) anticipates limited water sales opportunities this year

* Company sees potential pricing pressure in almond market

* Tejon Ranch ( TRC ) plans strategic investment in residential projects

Result Drivers

* LAND SALE REVENUE - Real estate commercial/industrial segment revenue increased due to recognition of land sale revenue from a transaction completed in 2022

* ALMOND SALES - Farming segment revenues rose due to higher almond sales, with 727,000 pounds sold compared to 381,000 pounds in the prior year

* PROXY CONTEST COSTS - Net loss driven by $2.3 mln in consulting fees related to contested board election and proxy defense

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $8.31 $8.10

Revenue mln mln (1

Analyst)

Q2 EPS -$0.06

Q2 Net -$1.71

Income mln

Q2 $5.70

Adjusted mln

EBITDA

Q2 Miss -$1.28 -$80,000

Pretax mln (1

Profit Analyst)

Q2 -$4.06

Operatin mln

g Income

Analyst Coverage

* Wall Street's median 12-month price target for Tejon Ranch Co ( TRC ) is $26.25, about 29.9% above its August 6 closing price of $18.41

Press Release:

(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.)