TRCC

Tejon Ranch Co. Announces Fourth Quarter and Year-Ended December 31, 2023 Financial Results

Retrieved on: 
Wednesday, March 6, 2024

TEJON RANCH, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Tejon Ranch Co., or the Company, (NYSE:TRC), a diversified real estate development and agribusiness company, today announced financial results for the fourth quarter and year-ended December 31, 2023.

Key Points: 
  • TEJON RANCH, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Tejon Ranch Co., or the Company, (NYSE:TRC), a diversified real estate development and agribusiness company, today announced financial results for the fourth quarter and year-ended December 31, 2023.
  • Factors behind this change included:
    Commercial/industrial segment revenues decreased $5.3 million, or 63%, when compared with the fourth quarter in 2022, primarily attributable to the absence of a land contribution in the fourth quarter 2023.
  • Tejon Ranch Co. provides Adjusted EBITDA, a non-GAAP financial measure, because it offers additional information for monitoring the Company's cash flow performance.
  • The Company also will continue to invest in its residential projects, including Mountain Village at Tejon Ranch, Centennial at Tejon Ranch and Grapevine at Tejon Ranch.

Veteran Real Estate Professional to Head Tejon Ranch’s First Residential Multi-Family Community, Terra Vista at Tejon

Retrieved on: 
Wednesday, February 21, 2024

TEJON RANCH, Calif., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Tejon Ranch Co. (TRC: NYSE) announced today the hiring of Chris Wilson as Vice President of Real Estate.

Key Points: 
  • TEJON RANCH, Calif., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Tejon Ranch Co. (TRC: NYSE) announced today the hiring of Chris Wilson as Vice President of Real Estate.
  • Wilson will oversee the construction, lease-up and operations of the Terra Vista at Tejon apartment community.
  • Terra Vista at Tejon is the Company’s first residential development and will complete the well-rounded progression of the Company to a fully integrated real estate development organization.
  • “We are committed to the success of Terra Vista at Tejon, and we are confident that Chris Wilson is the right person to lead the effort.” said Hugh McMahon, Executive Vice President of Real Estate, Tejon Ranch Co.

Nestlé Joins Growing List of National and Multinational Companies Operating at the Tejon Ranch Commerce Center

Retrieved on: 
Tuesday, January 23, 2024

TEJON RANCH, Calif., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Tejon Ranch Co .

Key Points: 
  • TEJON RANCH, Calif., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Tejon Ranch Co .
  • (NYSE: TRC) announced today that construction is underway on a new distribution center for Nestlé USA, Inc. , (Nestlé) the world’s largest food and beverage company with a robust U.S. footprint.
  • The new multi-story building, which will be more than 700,000 square feet, will be located on an approximate 58-acre parcel of land on the east side of Tejon Ranch Commerce Center (TRCC).
  • JLL’s Mac Hewett , Mike McCrary and Brent Weirick represented Tejon Ranch Co. in the 58-acre land sale transaction.

Tejon Ranch Company to Start Construction on Its First Residential Multi-Family Community, Terra Vista at Tejon

Retrieved on: 
Tuesday, January 9, 2024

TEJON RANCH, Calif., Jan. 09, 2024 (GLOBE NEWSWIRE) -- Tejon Ranch Co. (TRC: NYSE) announced today it is taking the next step in its evolution as a real estate development company by moving forward with the development of residential communities on the Ranch, providing much-needed new housing for the region.

Key Points: 
  • TEJON RANCH, Calif., Jan. 09, 2024 (GLOBE NEWSWIRE) -- Tejon Ranch Co. (TRC: NYSE) announced today it is taking the next step in its evolution as a real estate development company by moving forward with the development of residential communities on the Ranch, providing much-needed new housing for the region.
  • The Company will begin construction to start the new year on Terra Vista at Tejon, a new multi-family apartment community located immediately adjacent to the Outlets at Tejon in the Company’s Tejon Ranch Commerce Center (TRCC).
  • Terra Vista at Tejon is the Company’s first residential development and will complete the well-rounded progression of the Company to a fully integrated real estate development organization.
  • “This is a significant step for the Company as we begin our first residential community,” said Tejon Ranch Co. President and CEO, Gregory S. Bielli.

Tejon Ranch Co. and Majestic Realty Co. Joint Venture Announces New Lease and Tenant at the Tejon Ranch Commerce Center (TRCC)

Retrieved on: 
Monday, December 4, 2023

In 2015, RectorSeal became part of CSW Industrials, Inc. (NASDAQ: CSWI), and it now plays a leading role in CSWI’s Contractor Solutions segment.

Key Points: 
  • In 2015, RectorSeal became part of CSW Industrials, Inc. (NASDAQ: CSWI), and it now plays a leading role in CSWI’s Contractor Solutions segment.
  • With the move, RectorSeal will occupy 240,000 square feet in a 480,000-square-foot industrial facility the partnership opened in 2017.
  • The lease with RectorSeal also represents another example of a company relocating distribution operations to TRCC from the Los Angeles area.
  • “Everyone at Tejon Ranch and Majestic Realty has helped to position this strategic relocation for success.

Tejon Ranch Co. Announces Third Quarter 2023 Financial Results

Retrieved on: 
Tuesday, November 7, 2023

TEJON RANCH, Calif., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Tejon Ranch Co., or the Company, (NYSE:TRC), a diversified real estate development and agribusiness company, today announced financial results for the three- and nine-months ended September 30, 2023.

Key Points: 
  • TEJON RANCH, Calif., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Tejon Ranch Co., or the Company, (NYSE:TRC), a diversified real estate development and agribusiness company, today announced financial results for the three- and nine-months ended September 30, 2023.
  • Tejon Ranch Co. provides Adjusted EBITDA, a non-GAAP financial measure, because management believes it offers additional information for monitoring the Company's cash flow performance.
  • The Company also will continue to invest in its residential projects, including Mountain Village at Tejon Ranch, Centennial at Tejon Ranch and Grapevine at Tejon Ranch.
  • The current subjective production estimate for the 2023 California almond crop is 2.6 billion pounds which is consistent with 2022.

Tejon Ranch Co. Announces Second Quarter 2023 Financial Results

Retrieved on: 
Thursday, August 3, 2023

TEJON RANCH, Calif., Aug. 03, 2023 (GLOBE NEWSWIRE) -- Tejon Ranch Co., or the Company, (NYSE:TRC), a diversified real estate development and agribusiness company, today announced financial results for the three- and six-months ended June 30, 2023.

Key Points: 
  • TEJON RANCH, Calif., Aug. 03, 2023 (GLOBE NEWSWIRE) -- Tejon Ranch Co., or the Company, (NYSE:TRC), a diversified real estate development and agribusiness company, today announced financial results for the three- and six-months ended June 30, 2023.
  • Revenues and other income, including equity in earnings of unconsolidated joint ventures, for the second quarter of 2023 were $8.6 million, compared with $10.9 million for the second quarter of 2022.
  • Factors impacting second quarter 2023 results include:
    Mineral resources segment revenues of $1.6 million for the quarter ended June 30, 2023, compared with $4.1 million for the quarter ended June 30, 2022.
  • The Company will also continue to invest in its residential projects, including Mountain Village at Tejon Ranch, Centennial at Tejon Ranch and Grapevine at Tejon Ranch.

Techmer PM Announces the Acquisition of Advanced Color Technologies

Retrieved on: 
Monday, July 31, 2023

CLINTON, Tenn., July 31, 2023 (GLOBE NEWSWIRE) -- Techmer PM, a global leader in polymer materials design, announced today that it has signed an agreement to acquire color and additive compounder Advanced Color Technologies (ACT).

Key Points: 
  • CLINTON, Tenn., July 31, 2023 (GLOBE NEWSWIRE) -- Techmer PM, a global leader in polymer materials design, announced today that it has signed an agreement to acquire color and additive compounder Advanced Color Technologies (ACT).
  • Located in Dalton, Ga., Advanced Color Technologies, LLC, designs, formulates, and supplies specialty colorant and additive systems that add value to their customers’ products, with world-class quality.
  • The addition of Advanced Color Technologies is part of Techmer’s strategic plan to grow its markets in attractive, technology-oriented industries.
  • Techmer continues to be engaged and actively seek strategic investments to grow the business including selective acquisition partners.

Tejon Ranch Co. Announces First Quarter 2023 Financial Results

Retrieved on: 
Thursday, May 4, 2023

TEJON RANCH, Calif., May 04, 2023 (GLOBE NEWSWIRE) -- Tejon Ranch Co., or the Company, (NYSE:TRC), a diversified real estate development and agribusiness company, today announced financial results for the three-months ended March 31, 2023.

Key Points: 
  • TEJON RANCH, Calif., May 04, 2023 (GLOBE NEWSWIRE) -- Tejon Ranch Co., or the Company, (NYSE:TRC), a diversified real estate development and agribusiness company, today announced financial results for the three-months ended March 31, 2023.
  • Factors affecting first quarter 2023 results include:
    Commercial/industrial real estate development segment revenues of $2.7 million for the quarter ended March 31, 2023, compared with $7.3 million for the quarter ended March 31, 2022, resulting from no land sales in the first quarter of 2023.
  • Farming revenues of $1.2 million for the quarter ended March 31, 2023, an 81% increase from $655,000 for the quarter ended March 31, 2022.
  • The Company will also continue to invest in its residential projects, including Mountain Village at Tejon Ranch, Centennial at Tejon Ranch and Grapevine at Tejon Ranch.

Tejon Ranch Co. Announces Fourth Quarter and Year-Ended December 31, 2022 Financial Results

Retrieved on: 
Wednesday, March 8, 2023

TEJON RANCH, Calif., March 08, 2023 (GLOBE NEWSWIRE) -- Tejon Ranch Co., or the Company, (NYSE:TRC), a diversified real estate development and agribusiness company, today announced financial results for the fourth quarter and year-ended December 31, 2022.

Key Points: 
  • TEJON RANCH, Calif., March 08, 2023 (GLOBE NEWSWIRE) -- Tejon Ranch Co., or the Company, (NYSE:TRC), a diversified real estate development and agribusiness company, today announced financial results for the fourth quarter and year-ended December 31, 2022.
  • During the fourth quarter of 2021, the Company sold 17.1 acres of land to a third party for $4.7 million.
  • Tejon Ranch Co. provides Adjusted EBITDA, a non-GAAP financial measure, because it offers additional information for monitoring the Company's cash flow performance.
  • The Company will also continue to invest in its residential projects, including Mountain Village at Tejon Ranch, Centennial at Tejon Ranch and Grapevine at Tejon Ranch.