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Tejon Ranch (TRC) Q1 2025 earnings results (first quarter 2025)

10-Q filed May 8, 2025

Tejon Ranch (TRC) reported revenue of $8.2M for the first quarter 2025 (Q1 2025), +11% from a year earlier and -54% from the quarter before. Operating margin was -50.7%, net loss $1.5M (17.9% of revenue).

Revenue$8.2M
Year over year+11%
Quarter over quarter-54%
Operating margin-50.7%
Net earnings−$1.5M

Tejon Ranch, Q1 2025: revenue $8.2M (+11% year over year), operating margin -50.7%, net loss $1.5M, operating cash flow −$1.3M. The chart follows the revenue to costs, profit and cash.

Q1 2025AmountQ/QY/Y
Revenue$8.2M-54%+11%
Operating profit−$4.2M——
Net earnings−$1.5M——
Operating cash flow−$1.3M——

What changed

Revenue was $8.2M in Q1 2025, up 11% year over year and down 54% from the previous quarter.

Gross margin was 15.0%, up 14.7 points from a year earlier. Operating costs exceeded revenue by $4.2M, an operating margin of -50.7%. Operating expenses grew 35% against revenue growth of 11%. The quarter ended with a net loss of $1.5M, after a profit of $4.5M the previous quarter. Non-operating items added $1.4M, -52% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was −$1.3M. Non-cash charges added back $1.0M of depreciation and amortization and $666K of share-based compensation. Working capital and other items used $1.6M. Capital expenditures of $17.5M exceeded it, leaving free cash flow of −$18.9M.

Questions

What was Tejon Ranch's revenue in the first quarter 2025?

Tejon Ranch (TRC) reported revenue of $8.2M for the first quarter 2025 (Q1 2025), +11% from a year earlier and -54% from the quarter before.

Was Tejon Ranch profitable in the first quarter 2025?

Operating loss was $4.2M (-50.7% of revenue) and net loss $1.5M.

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Source: Tejon Ranch 10-Q on SEC EDGAR.