Tejon Ranch Co (TRC) Q4 2025 Earnings Call

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WEBVTT 00:00:01.533 -- 00:00:06.980 Greetings and welcome to the Tejon Ranch Company fourth quarter 2025 earnings 00:00:06.980 -- 00:00:11.767 call. At this time, all participants are in a listen-only mode. 00:00:11.767 -- 00:00:15.632 If anyone wants to require operator assistance, please press star zero on your telephone 00:00:15.632 -- 00:00:19.778 keypad. As a reminder, this conference is being recorded. 00:00:19.778 -- 00:00:25.085 It is now my pleasure to introduce Nick Ortiz, Senior Vice President of Corporate Communications. 00:00:25.085 -- 00:00:26.947 Please go ahead. 00:00:26.947 -- 00:00:32.235 Good afternoon, and welcome to To Home Ranch Company's fourth quarter 2025 earnings call. 00:00:32.235 -- 00:00:37.102 My name is Nick Ortiz. Joining me today are Matt Walker, President and CEO, and Robert 00:00:37.102 -- 00:00:40.447 Velasquez, Senior Vice President and Chief Financial Officer. 00:00:40.447 -- 00:00:44.933 Today's press release, 10K, and this webcast are available on our Investor Relations 00:00:44.933 -- 00:00:48.458 website. A replay will be posted after we conclude. 00:00:48.458 -- 00:00:51.380 That site is ir.tohomeranch.com. 00:00:52.144 -- 00:00:54.757 Today's remarks may include forward-looking statements. 00:00:54.757 -- 00:00:58.603 These statements are made under the safe harbor provisions of the Private Securities 00:00:58.603 -- 00:01:03.851 Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause 00:01:03.851 -- 00:01:09.319 actual results to differ materially. These factors are detailed in our SEC filings, including 00:01:09.319 -- 00:01:14.527 our most recent forms 10Q and 10K. We assume no obligation to update 00:01:14.527 -- 00:01:18.533 any forward-looking statements. We may reference non-GAAP mea...