Tejon Ranch posted net income attributable to common stockholders of $2.6 million ($0.10 a share), swinging from a $1.7 million loss.
Revenue and other income, including equity in earnings of unconsolidated joint ventures, rose 56.76% to $17.4 million.
Adjusted EBITDA (non-GAAP) climbed 47.37% to $8.4 million as year-to-date corporate expenses fell to $4.7 million.
Commercial/industrial segment revenue increased to $9.7 million, driven primarily by a $6.9 million Dedeaux land sale tied to a new industrial joint venture.
TRCC industrial portfolio stayed 100% leased; construction started on Building 1B, adding about 510,500 square feet with delivery targeted for early 2027.
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