Tejon Ranch Co. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 01:44 pm EST
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Tejon Ranch Co. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 4.45 million compared to USD 23.56 million a year ago. Revenue was USD 10.21 million compared to USD 31.48 million a year ago. Net loss was USD 0.341 million compared to net income of USD 10.18 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.38 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.38 a year ago.
For the nine months, sales was USD 12.09 million compared to USD 35.17 million a year ago. Revenue was USD 28.57 million compared to USD 61.76 million a year ago. Net income was USD 1.7 million compared to USD 13.82 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to USD 0.52 a year ago. Diluted earnings per share from continuing operations was USD 0.06 compared to USD 0.52 a year ago.
Tejon Ranch Co. is a diversified real estate development and agribusiness company. The Companyâs segments include real estate commercial/industrial, which is engaged in planning and permitting of land held for development, construction of infrastructure, the construction of pre-leased buildings, the construction of buildings to be leased or sold, and the sale of land to third parties for their own development; resort/residential real estate development segment activities, which include land entitlement, land planning and pre-construction engineering and conservation activities; mineral resources segment includes oil and gas royalties, rock and aggregate royalties, royalties from a cement operation leased, and the management of water assets and water infrastructure; farming operations segment farm permanent crops, including the wine grapes, almonds and pistachios, and ranch operations segment consists of game management and ancillary land uses, such as grazing leases and filming.