ST JOE Co SEC 10-Q Report

The St. Joe Company, a prominent real estate development and management firm, has released its latest 10-Q report, showcasing robust financial and operational performance. The company, which operates primarily in Northwest Florida, has demonstrated significant growth across its key business segments, reflecting its strategic focus and market demand.

Financial Highlights

Total Revenue: $223.3 million, reflecting a strong performance with an increase from $199.4 million in the same period last year.

Operating Income: $53.9 million, showing an improvement over the previous year's $48.6 million, indicating enhanced operational efficiency.

Net Income: $46.4 million, up from $37.6 million, demonstrating robust profitability.

Net Income Attributable to the Company: $46.985 million, compared to $38.433 million in the prior year, highlighting the company's strong financial position.

Basic Net Income Per Share: $0.81, an increase from $0.66, reflecting higher earnings per share.

Diluted Net Income Per Share: $0.81, up from $0.66, indicating improved shareholder value.

Business Highlights

Revenue Segments: The St. Joe Company operates in three primary segments: residential, hospitality, and commercial. The residential segment includes homesite sales and related infrastructure, the hospitality segment encompasses hotels, resorts, clubs, and marinas, and the commercial segment involves retail, office, and other commercial properties.

Geographical Performance: The company's real estate assets are concentrated in Northwest Florida, with approximately 87% located in Florida's Bay, Gulf, and Walton counties. The proximity to the Gulf of America is a significant factor in the company's operations.

Sales Units: The Latitude Margaritaville Watersound JV completed 329 home sale transactions during the six months ended June 30, 2025, indicating strong demand in the 55+ active adult residential community.

New Production Launches: The company has been involved in several joint ventures to develop new properties, including the Mexico Beach Crossings JV for a 216-unit multi-family community and The Lodge 30A JV for an 85-room boutique hotel.

Future Outlook: The company anticipates continued strong demand across its segments due to the growth of Northwest Florida, driven by increased migration and the region's high quality of life. However, macroeconomic factors such as elevated interest rates and higher insurance costs may impact buyer sentiment.

SEC Filing: ST JOE Co [ JOE ] - 10-Q - Jul. 23, 2025