Tejon Ranch reports Q1 EPS (3c) vs 7c last year

Reports Q1 revenue $7.406M vs $12.265M last year. “During the first quarter of 2024, the Company continued its strategic focus on unlocking the value of our unique land assets, including commencement of construction of our first residential community, Terra Vista at Tejon, a new multi-family apartment community located immediately adjacent to the Outlets at Tejon. The community will have 228 residences in the first phase with the first units expected to be delivered in the second quarter of 2025. This development marks the Company’s evolution as a real estate development company by adding residential communities on the Ranch, adding to the vibrancy of the Ranch, and providing much-needed new housing for the region,” said Gregory S. Bielli, President, and CEO of Tejon Ranch Co. “We are also continuing our aggressive fight for our Centennial at Tejon master planned community. While pushing strongly on the litigation front, we have initiated our efforts in Los Angeles County to enhance our existing project approvals by advertising our notice of preparation for a soon-to-be released Supplemental Environmental Impact Report,” continued Bielli.