St Joe's Q2 net income soars amid hospitality expansion

St Joe

29/07/2026 21:33

Overview
Florida real estate developer's Q2 revenue rose 23% yr/yr to highest in 20 years
Q2 net income increased 37% yr/yr to highest Q2 in 30 years
Company repurchased $32.7 mln of stock and declared $0.16/share quarterly dividend

Outlook
Company says residential segment results may vary quarter to quarter due to development cycles
St Joe plans to commence two new residential communities in early 2027
Company is in active discussions with new homebuilders seeking to purchase homesites

Result Drivers
REAL ESTATE GROWTH - Real estate revenue rose 59% yr/yr, driven by a diverse portfolio of residential communities and increased development activity
HOSPITALITY EXPANSION - Hospitality revenue increased 8% to a quarterly record, supported by growth in club memberships and hotel operations
MARGIN IMPROVEMENT - Gross margin increased across all segments, reflecting operational refinements and higher profitability

Company press release: ID:nBwbhZ3wLa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Real Estate Revenue
 
$69.60 mln
 
Q2 Net Income
 
$41 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)