St. Joe Q1 2020 Earnings Report
Key Takeaways
St. Joe reported a 16% increase in revenue for Q1 2020, reaching $18.6 million compared to $16.0 million in Q1 2019. However, the company experienced a net loss of $1.5 million, or $0.03 per share, due to the impact of COVID-19 on its hospitality segment and a total investment loss of $1.6 million. Despite these challenges, the residential and commercial segments showed resilience, and the company increased its backlog of residential homesite contracts and leased apartment units.
Total revenue increased by 16% year-over-year, reaching $18.6 million.
Net loss was ($1.5) million, or ($0.03) per share, compared to net income of $2.0 million, or $0.03 per share, for the same period in 2019, impacted by COVID-19.
Real estate revenue increased to $5.8 million from $4.6 million year-over-year.
The Company had 979 residential homesites under contract as of March 31, 2020, expected to result in revenue of approximately $91.0 million over the next several years.
St. Joe
St. Joe
St. Joe Revenue by Segment
Forward Guidance
Company did not provide specific forward guidance.