Form 8-K

8-K — TEJON RANCH CO

Accession: 0001193125-26-210595

Filed: 2026-05-07

Period: 2026-05-07

CIK: 0000096869

SIC: 6500 (REAL ESTATE)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — d121454d8k.htm (Primary)

EX-99.1 (d121454dex991.htm)

GRAPHIC (g121454g21d51.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: d121454d8k.htm · Sequence: 1

8-K

TEJON RANCH CO false 0000096869 0000096869 2026-05-07 2026-05-07

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) May 7, 2026

Tejon Ranch Co.

(Exact Name of Registrant as Specified in its Charter)

Delaware

1-07183

77-0196136

(State or Other Jurisdiction

of Incorporation

(Commission

File Number)

(IRS Employer

Identification No.)

P. O. Box 1000, Lebec, California

93243

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code 661-248-3000

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s

Name of each exchange

on which registered

Common Stock

TRC

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02

Results of Operations and Financial Condition.

On May 7, 2026, the Tejon Ranch Co. (the “Company”) issued a press release announcing its first quarter 2026 financial results (the “Press Release”). A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Current Report on Form 8-K (including the exhibit attached as Exhibit 99.1 hereto) is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act (including the exhibit attached as Exhibit 99.1 hereto).

Item 9.01

Financial Statements and Exhibits.

For the exhibits that are furnished herewith, see the Index to Exhibits immediately following.

INDEX TO EXHIBITS

99.1

Press Release dated May 7, 2026 announcing the Company’s first quarter 2026 financial results

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 7, 2026

TEJON RANCH CO.

By:

/S/ MICHAEL R.W. HOUSTON

Name:

Michael R.W. Houston

Title:

Senior Vice President, General Counsel & Secretary

EX-99.1

Filename: d121454dex991.htm · Sequence: 2

EX-99.1

Exhibit 99.1

TEJON RANCH CO. ANNOUNCES FIRST QUARTER 2026

FINANCIAL RESULTS

TEJON RANCH,

California - May 7, 2026 - Tejon Ranch Co. (NYSE:TRC), (“Tejon” or the “Company”), a diversified real estate development and agribusiness company, today

announced financial results for the first quarter ended March 31, 2026.

First Quarter 2026 Financial Highlights

•

Net income attributable to common stockholders increased by $1.6 million to $0.2 million ($0.01/share

basic and diluted), compared to a loss of $1.5 million, ($0.05/share) in the first quarter of 2025.

•

Revenues and other income, including equity in earnings of unconsolidated joint ventures increased by

$1.3 million to $10.8 million, compared to $9.6 million, while overall results also benefited from lower operating expenses compared to the first quarter of 2025.

•

Adjusted EBITDA, a non-GAAP measure, increased by $2.0 million to

$4.8 million compared to $2.8 million in the first quarter of 2025.

Tejon Ranch Co. provides Adjusted EBITDA, a non-GAAP financial measure, because it offers additional information for monitoring the Company’s cash flow performance. A table providing a reconciliation of Adjusted EBITDA to its most comparable GAAP

measure, as well as an explanation of, and important disclosures about, this non-GAAP measure, is included in the tables at the end of this press release.

Executive Summary

“We delivered a solid first

quarter, with revenue up 16% and expenses down 14%, the kind of operating progress to which we committed to a year ago” said Matthew Walker, President and Chief Executive Officer of Tejon Ranch Company. “Revenue growth was led by our

mineral resources and ranch operations segments and was partially offset by farming. The expense improvement reflects our focus on cost reductions and enhanced efficiencies and is translating directly into increased Adjusted EBITDA and stronger cash

flow.

“We are continuing to grow our commercial real estate portfolio. The recent commencement of construction on Building 1B through our joint

venture with Dedeaux Properties is a tangible example of that growth, adding 510,500 square feet of Class A space to an industrial portfolio that remains fully leased. The anticipated stabilization of Terra Vista, along with the recent opening

of the Hard Rock Casino Tejon, should continue to drive increased traffic and commercial activity across the Ranch. Looking ahead, we believe Tejon Ranch is well-positioned to capitalize on a compelling set of opportunities.”

Commercial/Industrial Real Estate Update

•

Segment revenues of $2.8 million were consistent with the first quarter of 2025, reflecting stability at

Tejon Ranch Commerce Center (“TRCC”).

•

Leasing and occupancy as of March 31, 2026:

•

The TRCC industrial portfolio, through the Company’s joint venture partnerships, consists of

2.8 million square feet of GLA and remains 100% leased.

•

The TRCC commercial portfolio, wholly owned and through joint venture partnerships, consists of approximately

584,000 square feet of GLA and is 95% leased.

•

Occupancy at the Outlets at Tejon was 92% as of March 31, 2026.

•

Subsequent to quarter end, construction commenced on Building 1B at TRCC through the Company’s joint

venture with Dedeaux Properties. Once complete, this will add approximately 510,500 square feet of Class-A industrial capacity.

•

Management continues to see elevated activity at TRCC tied to the

lease-up of Terra Vista and the opening of the Hard Rock Casino Tejon, with outlet traffic increasing approximately 22%, year over year, and outlet sales per square foot rising 12%, as the positive trends that

emerged at the end of 2025 extended into the first quarter.

Farming Highlights

•

Farming segment revenues were $0.9 million in the first quarter of 2026, compared to $1.6 million in

the first quarter of 2025.

•

The year-over-year decline reflects lower carryover crop available for sale in the first quarter of 2026, as the

Company strategically accelerated sales of carryover inventory during the fourth quarter of 2025 to capitalize on stronger-than-anticipated pricing.

•

The Company planted 150 acres of olives in 2025 and an additional 150 acres in 2026 as part of its ongoing crop

diversification strategy.

Mineral Resources Highlights

•

Mineral resources segment revenues increased 36% to $3.5 million in the first quarter of 2026, compared to

$2.6 million in the first quarter of 2025, with segment operating profit more than doubling to $1.0 million.

•

The year-over-year improvement was driven primarily by opportunistic water sales executed during the quarter.

•

Underlying royalty streams across rock and aggregate, cement, and oil and gas continued to contribute stable cash

flow during the quarter.

Liquidity and Capital Resources

As of March 31, 2026, total capital, including debt, was $585.3 million. The Company had total liquidity of approximately $83.9 million,

consisting of cash and securities totaling approximately $19.4 million and $64.6 million available on its line of credit.

2026 Outlook:

The Company remains focused on TRCC as its primary development platform and long-term value driver. The Company expects to continue pursuing commercial and

industrial development, multifamily development, leasing and investment activity, both directly and through joint ventures. In addition, the Company may also pursue selective land sales on an opportunistic basis and continues to advance its

residential projects, including Mountain Village, Grapevine and Centennial.

California remains a highly regulated environment for real estate

development, and project timelines may be impacted by entitlement processes and potential litigation. As a result, the Company expects net income to fluctuate from period to period, driven primarily by the timing and level of development activity,

land sales, and leasing, as well as commodity prices and production levels within its farming and mineral resources segments.

For 2026,

California’s agricultural regions experienced a more typical winter cooling cycle compared to the prior year, providing pistachio and almond crops with adequate chilling hour accumulation to support normal dormancy break. During February 2026,

rainfall occurred during the almond bloom period, necessitating timely fungicide applications. These weather conditions did not materially impact crop management schedules or expected productivity.

Earnings Conference Call Information

The Company will

host a conference call to discuss its first quarter 2026 financial results:

•

Date: Thursday, May 7, 2026

•

Time: 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time

•

Dial-In: (877) 704-4453

(U.S.) or +1 (201) 389-0920 (International)

•

Conference Call Playback: (844) 512-2921 (U.S.) or +1 (412) 317-6671 (International) Passcode: 13759630

The full playback can be accessed through Thursday,

June 4, 2026.

About Tejon Ranch Co.

Tejon

Ranch Co. (NYSE: TRC) is a California-based company whose 270,000-acre landholding in Los Angeles and Kern Counties supports a diversified portfolio of real estate and land-based businesses. Strategically

located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield, the Company’s operations include the development and operations of commercial and industrial real estate, master planned communities, as well as farming,

grazing and game management. Tejon Ranch Co. also generates revenue through ground leases, royalty agreements, and rights-of-way easements supporting infrastructure,

energy, telecommunications and utility uses. For more information, please visit www.tejonranch.com.

Forward Looking Statements:

This release contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact are

forward-looking statements. These statements include, among others, statements regarding the Company’s business plans, strategies, prospects, objectives, future operating results, financial condition, capital allocation, cost structure,

development and entitlement timelines, partnerships, and other future events or circumstances.

Forward-looking statements reflect the Company’s

current expectations and beliefs and are not guarantees of future performance. These statements speak only as of the date of this release. Words such as “anticipate,” “believe,” “estimate,” “expect,”

“intend,” “plan,” “project,” “target,” “may,” “will,” “could,” “should,” “would,” “likely,” and similar expressions are intended

to identify forward-looking statements.

These statements are based on current assumptions and are subject to risks and uncertainties, many of which are

beyond the Company’s control, that could cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, among others, market, economic, geopolitical, and weather conditions; the availability

and cost of financing; competition; commodity prices and agricultural yields; the ability to obtain and maintain governmental entitlements and permits; the timing and outcome of regulatory and litigation matters; demand for commercial, industrial,

residential, and retail real estate; and other risks inherent in the Company’s real estate and agricultural operations.

There can be no assurance

that actual results will not differ materially from these forward-looking statements. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements. Investors are cautioned not to place undue

reliance on these statements. For additional information regarding risks and uncertainties, please refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and

subsequent filings with the U.S. Securities and Exchange Commission.

(Financial tables follow)

TEJON RANCH CO. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

($ in thousands, except per share amounts)

March 31, 2026

December 31, 2025

(unaudited)

ASSETS

Current Assets:

Cash and cash equivalents

4,664

9,524

Marketable securities -

available-for-sale

14,719

15,370

Accounts receivable

4,807

9,389

Inventories

6,146

3,347

Prepaid expenses and other current assets

3,048

1,632

Total current assets

33,384

39,262

Real estate and improvements - held for lease, net

78,606

79,177

Real estate development (includes $129,423 at March 31, 2026 and $128,549 at

December 31, 2025, attributable to CFL)

359,354

356,567

Property and equipment, net

59,702

59,311

Investments in unconsolidated joint ventures

30,080

29,986

Net investment in water assets

69,498

62,593

Other assets

3,535

3,573

TOTAL ASSETS

634,159

630,469

LIABILITIES AND EQUITY

Current Liabilities:

Trade accounts payable

6,009

5,240

Accrued liabilities and other

3,308

2,188

Deferred income

2,769

2,062

Total current liabilities

12,086

9,490

Revolving line of credit

95,442

93,942

Long-term deferred gains

10,935

Deferred tax liability

9,840

9,849

Other liabilities

15,992

15,697

Total liabilities

144,295

139,913

Commitments and contingencies

Equity:

Tejon Ranch Co. stockholders’ equity

Common stock, $0.50 par value per share:

Authorized shares - 50,000,000

Issued and outstanding shares - 26,992,645 at March 31, 2026 and 26,916,837 at

December 31, 2025

13,498

13,460

Additional paid-in capital

349,385

350,242

Accumulated other comprehensive loss

(200

)

(177

)

Retained earnings

111,824

111,673

Total Tejon Ranch Co. stockholders’ equity

474,507

475,198

Non-controlling interest

15,357

15,358

Total equity

489,864

490,556

TOTAL LIABILITIES AND EQUITY

634,159

630,469

TEJON RANCH CO. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

($ in thousands, except per share amounts)

Three Months Ended March 31,

2026

2025

Revenues:

Real estate - commercial/industrial

2,762

2,754

Multifamily

696

—

Mineral resources

3,533

2,595

Farming

895

1,556

Ranch operations

1,617

1,304

Total revenues

9,503

8,209

Costs and expenses:

Real estate - commercial/industrial

1,678

1,655

Multifamily

1,024

192

Real estate - resort/residential

356

386

Mineral resources

2,488

2,085

Farming

1,989

2,548

Ranch operations

1,213

1,273

Corporate expenses

1,886

4,236

Total costs and expenses

10,634

12,375

Operating loss

(1,131

)

(4,166

)

Other income:

Investment income

142

346

Other loss, net

(92

)

(76

)

Total other income, net

270

Loss before equity in earnings of unconsolidated joint ventures and income tax benefit

(1,081

)

(3,896

)

Equity in earnings of unconsolidated joint ventures, net

1,290

1,158

Income (loss) before income tax benefit

209

(2,738

)

Income tax expense (benefit)

(1,272

)

Net income (loss)

150

(1,466

)

Net loss attributable to non-controlling interest

)

Net income (loss) attributable to common stockholders

151

(1,464

)

Net income (loss) per share attributable to common stockholders, basic

0.01

(0.05

)

Net income (loss) per share attributable to common stockholders, diluted

0.01

(0.05

)

Non-GAAP Financial Measures

This press release includes references to the Company’s non-GAAP financial measures “EBITDA”, and

Adjusted EBITDA. EBITDA represents the Company’s share of consolidated net income in accordance with U.S. generally accepted accounting principles (“GAAP”), before interest, taxes, depreciation, and amortization, plus the allocable

portion of EBITDA of unconsolidated joint ventures accounted for under the equity method of accounting based upon economic ownership interest, and all determined on a consistent basis in accordance with GAAP. EBITDA is a non-GAAP financial measure and is used by the Company and others as a supplemental measure of performance. Tejon Ranch also uses Adjusted EBITDA to assess the performance of the Company’s core operations, for

financial and operational decision making, and as a supplemental or additional means of evaluating period-to-period comparisons on a consistent basis. Adjusted EBITDA is

calculated as EBITDA, excluding stock compensation expense and certain identified non-recurring items that are not indicative of our on-going operations or that may

obscure our underlying results and trends. The Company believes EBITDA and Adjusted EBITDA provide investors relevant and useful information, when reconciled to their most comparable GAAP financial measure, because they permit investors to view

income from operations on an unlevered basis before the effects of taxes, depreciation and amortization, and stock compensation expense. By excluding interest expense and income, EBITDA and Adjusted EBITDA allow investors to measure the

Company’s performance independent of its capital structure and indebtedness and, therefore, allow for a more meaningful comparison of the Company’s performance to that of other companies, both in the real estate industry and in other

industries. The Company believes that excluding charges related to share-based compensation facilitates a comparison of its operations across periods and among other companies without the variances caused by different valuation methodologies, the

volatility of the expense (which depends on market forces outside the Company’s control), and the assumptions and the variety of award types that a company can use. In addition, the Company excludes certain items impacting comparability, such

as shareholder activism advisory costs and legal expenses associated with the Centennial litigation, to provide investors with a clearer understanding of the Company’s core operating performance across periods. EBITDA and Adjusted EBITDA have

limitations as measures of the Company’s performance. EBITDA and Adjusted EBITDA do not reflect Tejon Ranch’s historical cash expenditures or future cash requirements for capital expenditures or contractual commitments. While EBITDA and

Adjusted EBITDA are relevant and widely used measures of performance, they do not represent net income or cash flows from operations as defined by GAAP, and they should not be considered as alternatives to those indicators in evaluating performance

or liquidity. Further, the Company’s computation of EBITDA and Adjusted EBITDA may not be comparable to similar measures reported by other companies.

Adjusted Farming EBITDA before fixed water obligations is not a measure of financial performance prepared in accordance with GAAP and should not be considered

in isolation or as a substitute for net income, operating income, or other performance measures prepared in accordance with GAAP. The Company defines Adjusted Farming EBITDA before fixed water obligations as net income (loss) before interest, taxes,

depreciation, and amortization, further adjusted to exclude non-recurring items such as gains or losses on asset sales, impairments, share-based compensation, and other

non-cash charges, and before deducting the Company’s fixed water obligations. Management uses this measure to evaluate the core operating performance of its farming operations and to facilitate period-to-period comparisons by isolating the impact of variable farming costs from the fixed water infrastructure costs. The Company believes this measure provides investors

with additional insight into the underlying cash flow potential of its agricultural operations. A reconciliation of Adjusted Farming EBITDA before fixed water obligations to the most directly comparable GAAP measure, Operating loss from farming, is

provided below.

TEJON RANCH CO.

Non-GAAP Financial Measures

(Unaudited)

Three Months Ended March 31,

TTM* Ended March 31,

($ in thousands)

2026

2025

2026

2025

Net income (loss)

150

(1,466

)

1,687

2,136

Net loss attributable to non-controlling interest

)

Interest, net

Consolidated

(142

)

(346

)

(710

)

(1,934

)

Our share of interest expense from unconsolidated joint ventures

1,397

1,462

5,729

6,084

Total interest, net

1,255

1,116

5,019

4,150

Income tax provision (benefit)

(1,272

)

2,419

646

Depreciation and amortization:

Consolidated

1,473

1,015

6,472

4,894

Our share of depreciation and amortization from unconsolidated joint ventures

1,666

1,695

6,962

6,841

Total depreciation and amortization

3,139

2,710

13,434

11,735

EBITDA

4,604

1,090

22,562

18,671

Stock compensation expense

182

666

1,227

4,335

Items impacting comparability:

Shareholder activism expense 1

—

1,083

3,416

1,083

Adjusted EBITDA

4,786

2,839

27,205

24,089

Represents advisory fees related to shareholder activism matters.

Trailing Twelve Month (TTM)

Reconciliation of Net Income to Adjusted TTM EBITDA

TTM EBITDA Ended March 31, 2026

($ in thousands)

Commercial

Real Estate

Multifamily

Farming

Mineral

Resources

Ranch

Operations

Residential

Real Estate

Corporate

Tejon PRS

of UJV

Grand Total

Net income (loss)

6,989

(1,683

)

(214

)

3,364

591

(2,247

)

(13,607

)

8,494

1,687

Net income attributed to non-controlling interest

—

)

Interest, net

Consolidated interest income

—

(710

)

—

(710

)

Our share of interest expense from unconsolidated joint ventures

—

5,729

Total interest, net

—

(710

)

5,729

5,019

Income tax expense

—

2,419

—

2,419

Depreciation and amortization

Consolidated

490

1,477

2,374

1,376

370

353

—

6,472

Our share of depreciation and amortization from unconsolidated joint ventures

—

6,962

Total depreciation and amortization

490

1,477

2,374

1,376

370

353

6,962

13,434

EBITDA

7,479

(206

)

2,160

4,740

961

(2,215

)

(11,545

)

21,188

22,562

Stock compensation expense

—

174

940

—

1,227

Items impacting comparability:

Other 1

—

3,416

—

3,416

Adjusted EBITDA

7,529

(206

)

2,205

4,755

964

(2,041

)

(7,189

)

21,188

27,205

Represents shareholder activism expense.

Quarterly information is not indicative of full year results due to seasonality.

TTM EBITDA Ended March 31, 2025

($ in thousands)

Commercial

Real Estate

Multifamily

Farming

Mineral

Resources

Ranch

Operations

Residential

Real Estate

Corporate

Tejon PRS of

UJV

Grand Total

Net income (loss)

4,531

—

(3,416

)

3,299

482

(1,440

)

(11,846

)

10,526

2,136

Net income attributed to non-controlling interest

—

)

Interest, net

Consolidated interest income

—

(1,934

)

—

(1,934

)

Our share of interest expense from unconsolidated joint ventures

—

6,084

Total interest, net

—

(1,934

)

6,084

4,150

Income tax expense

—

646

—

646

Depreciation and amortization

Consolidated

421

—

2,318

1,375

387

351

—

4,894

Our share of depreciation and amortization from unconsolidated joint ventures

—

6,841

Total depreciation and amortization

421

—

2,318

1,375

387

351

6,841

11,735

EBITDA

4,952

—

(1,098

)

4,674

869

(1,398

)

(12,783

)

23,455

18,671

Stock compensation expense

119

—

150

481

3,524

—

4,335

Items impacting comparability:

Other 1

—

1,083

—

1,083

Adjusted EBITDA

5,071

—

(948

)

4,725

879

(917

)

(8,176

)

23,455

24,089

Represents shareholder activism expense.

Quarterly information is not indicative of full year results due to seasonality.

Reconciliation of Adjusted Farming EBITDA before Fixed Water Obligations

(Unaudited)

The Company evaluates the

performance of its farming operations using Adjusted Farming EBITDA before fixed water obligations, a non-GAAP financial measure. Management believes this measure provides a meaningful representation of the

underlying profitability and cash flow potential of its agricultural operations by excluding both non-operating items and the fixed water obligation, which represents a

non-controllable infrastructure cost incurred regardless of the level of farming activity in this segment.

The

fixed water obligations reflect the Company’s allocated share of infrastructure and financing costs associated with the transmission and delivery of water to the Company’s property. These obligations primarily consist of annual

assessments levied to repay bonds issued by the State of California to finance the construction and on-going maintenance of the state water project system and local water districts water systems. The

landowners who hold water rights, including the Company, are responsible for repaying these bonds through fixed annual payments.

Unlike variable water

costs which are included in farming expenses, management views the fixed water obligation as an infrastructure cost that supports long-term access to water resources, rather than an essential operating cost of farming. Accordingly, Adjusted Farming

EBITDA before fixed water obligations allows management and investors to evaluate the operating performance of the Company’s farming segment independent of the fixed costs associated with water infrastructure.

($ in thousands)

Three Months Ended March 31,

Farming Segment

2026

2025

Farming revenues

895

1,556

Farming expenses

1,989

2,548

Operating loss from farming

(1,094

)

(992

)

Depreciation

329

368

Stock compensation expense

(56

)

Adjusted EBITDA

(821

)

(585

)

Fixed Water Obligations

1,006

844

Adjusted Farming EBITDA before Fixed Water Obligations

185

259

Earnings Per Share (EPS) and Share Data

(Unaudited)

Three Months Ended

March 31,

2026

December 31,

2025

September 30,

2025

June 30,

2025

March 31,

2025

Basic earnings per share

0.01

0.06

(0.06

)

(0.05

)

Diluted earnings per share

0.01

0.06

(0.06

)

(0.05

)

Book value per common share

17.58

17.65

17.60

17.54

17.59

Period End Share Price

Weighted average shares

26,937,124

26,907,329

26,890,979

26,878,658

26,852,573

Weighted average diluted shares

27,014,799

26,965,558

26,939,860

26,878,658

26,852,573

Outstanding Shares

26,992,645

26,916,837

26,893,955

26,880,668

26,867,600

Contacts

Tejon Ranch Co.

Nicholas Ortiz

Senior Vice President, Corporate Communications & Public Affairs

661-663-4212

IR@tejonranch.com

GRAPHIC

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v3.26.1

Document and Entity Information

May 07, 2026

Cover [Abstract]

Entity Registrant Name

TEJON RANCH CO

Amendment Flag

false

Entity Central Index Key

0000096869

Document Type

8-K

Document Period End Date

May 07, 2026

Entity Incorporation State Country Code

Entity File Number

1-07183

Entity Tax Identification Number

77-0196136

Entity Address, Address Line One

P. O. Box 1000

Entity Address, City or Town

Lebec

Entity Address, State or Province

Entity Address, Postal Zip Code

93243

City Area Code

661

Local Phone Number

248-3000

Written Communications

false

Soliciting Material

false

Pre Commencement Tender Offer

false

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false

Security 12b Title

Common Stock

Trading Symbol

TRC

Security Exchange Name

NYSE

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