TEJON RANCH CO
For the period ended Dec 31, 2023. Filed Mar 6, 2024.
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FY2023 · Filed Mar 6, 2024
TRC$17.55-1.1%Stored close · as of Nov 10, 2026
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Consolidated Statements of Operations - Years Ended and
CONSOLIDATED STATEMENTS OF OPERATIONS
($ in thousands, except per share amounts)
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Revenues: | |||
| Real Estate - commercial/industrial | $11,758 | $40,515 | $19,476 |
| Mineral resources | 14,524 | 21,595 | 20,987 |
| Farming | 13,950 | 13,001 | 11,039 |
| Ranch operations | 4,507 | 4,106 | 4,111 |
| Total revenues | 44,739 | 79,217 | 55,613 |
| Costs and expenses: | |||
| Real Estate - commercial/industrial | 8,053 | 16,356 | 11,953 |
| Real Estate - resort/residential | 1,528 | 1,629 | 1,723 |
| Mineral resources | 8,685 | 12,969 | 13,559 |
| Farming | 15,257 | 19,811 | 14,116 |
| Ranch operations | 5,043 | 5,024 | 4,679 |
| Corporate expenses | 9,872 | 9,699 | 9,843 |
| Total expenses | 48,438 | 65,488 | 55,873 |
| Operating (loss) income | (3,699) | 13,729 | (260) |
| Other income: | |||
| Investment income | 2,557 | 634 | 57 |
| Other (loss) income | (138) | 1,088 | 164 |
| Total other income | 2,419 | 1,722 | 221 |
| (Loss) income from operations before equity in earnings of unconsolidated joint ventures and income tax expense | (1,280) | 15,451 | (39) |
| Equity in earnings of unconsolidated joint ventures, net | 6,868 | 7,752 | 9,202 |
| Income before income taxes | 5,588 | 23,203 | 9,163 |
| Income tax expense | 2,323 | 7,393 | 3,821 |
| Net income | 3,265 | 15,810 | 5,342 |
| Net income (loss) attributable to non-controlling interest | — | 2 | (6) |
| Net income attributable to common stockholders | $3,265 | $15,808 | $5,348 |
| Net income per share attributable to common stockholders, basic | $0.12 | $0.60 | $0.20 |
| Net income per share attributable to common stockholders, diluted | $0.12 | $0.59 | $0.20 |
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