What sectors influenced TRC's earnings surprises?

Tejon Ranch Co. (TRC) experienced an earnings surprise of $0.14 per share, with a last price of $15.76, reflecting a decrease of 1.07%. The company's earnings are influenced by multiple sectors, including real estate and agribusiness, which are detailed below:

1. **Real Estate Sector Influence**:
- TRC's Commercial/Industrial Real Estate Development segment is active in planning and permitting land for development, construction of infrastructure projects, and leasing or selling buildings. The success of the Tejon Ranch Commerce Center (TRCC) and the ongoing developments, such as Terra Vista at Tejon and the Centennial and Grapevine communities, have contributed to the company's revenue.
- The company's industrial portfolio, including the TRCC, maintains high occupancy rates, which has driven revenue growth. The commercial portfolio also shows strong leasing activity, with total TRCC comprising 7.1 million square feet, 96% of which is leased.
2. **Agricultural Sector Influence**:
- TRC's Farming segment engages in farming permanent crops such as wine grapes, almonds, and pistachios. The company's farming segment expenses increased, contributing to the decrease in net income.
- The Ranch Operations segment provides grazing leases and various land services, which may also influence the company's overall income.

In conclusion, TRC's earnings are influenced by the performance of its real estate and agribusiness segments. The success of its commercial and industrial properties, along with the growth in its residential and farming activities, have contributed to its recent earnings performance.