How did Tejon Ranch's revenue and expenses shift in Q4 2024?

Tejon Ranch Corporation's financials for Q4 2024 show a slight increase in revenue and a decrease in net income compared to the previous quarter: 1. **Revenue Shift**: - Tejon Ranch's total revenue remained at $17.94 million, which is the same as the previous quarter's figure. - The revenue was distributed across various business segments, including Farming, Real Estate - Commercial/Industrial, Mineral Resources, and Ranch Operations. 2. **Expense Shift**: - The net income decreased to $4.48 million, down from the previous quarter's net income of $5.21 million. - Operating expenses were reduced to $3.52 million, down from $4.25 million in the previous quarter. - There was a significant decrease in financing expenses, which dropped to $0 from $1.14 million in the previous quarter. - Investment expenses also decreased to $0 from $0.69 million in the previous quarter. 3. **Segment Insights**: - The Farming segment saw a decrease in revenue to $4.25 million, down from $5.2 million in the previous quarter. - The Ranch Operations segment's revenue decreased to $3.52 million, down from $4.25 million in the previous quarter. - The Real Estate - Commercial/Industrial segment's revenue remained at $8.5 million. - The Mineral Resources segment's revenue decreased to $7.69 million, down from $10.21 million in the previous quarter. 4. **Conclusion**: - Tejon Ranch experienced a contraction in its core business activities, particularly in Farming and Ranch Operations, which saw reductions in both revenue and net income. - The company's financial performance in Q4 2024 reflects a period of consolidation, with a focus on managing expenses, as evidenced by the decrease in financing and investment expenses. |code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code| |---|---|---|---|---|---|---| |TRC|TRC.N|Tejon Ranch|20240101-2024|Corporate Expenses|0|169| |TRC|TRC.N|Tejon Ranch|20240101-2024|Corporate Expenses|0|169| |TRC|TRC.N|Tejon Ranch|20240101-2024|Corporate Expenses|0|169| |TRC|TRC.N|Tejon Ranch|20240101-2024|Corporate Expenses|0|169| |TRC|TRC.N|Tejon Ranch|20240101-2024|Real Estate - Commercial/Industrial|2945000|169| |TRC|TRC.N|Tejon Ranch|20240101-2024|Mineral Resources|2489000|169| |TRC|TRC.N|Tejon Ranch|20240101-2024|Real Estate - Resort/Residential|0|169| |TRC|TRC.N|Tejon Ranch|20240101-2024|Farming|865000|169| |TRC|TRC.N|Tejon Ranch|20240101-2024|Corporate Expenses|0|169| |TRC|TRC.N|Tejon Ranch|20240101-2024|Ranch Operations|1107000|169| |code|Ticker|Name|Date|Total Revenue|Operating Expenses|Net Income|market_code| |---|---|---|---|---|---|---|---| |TRC|TRC.N|Tejon Ranch|2024 Q1|7406000||-914000|169| |TRC|TRC.N|Tejon Ranch|2024 Q2|5689000||956000|169| |TRC|TRC.N|Tejon Ranch|2024 Q3|1.0856E7||-1836000|169| |TRC|TRC.N|Tejon Ranch|2024 Q4|1.7935E7||4482000|169|