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Mar 31, 2023
St. Joe Q1 2023 Earnings Report
St. Joe's Q1 2023 performance was marked by revenue growth and strategic expansion.
Key Takeaways
St. Joe Company reported a 12% increase in quarterly revenue, reaching $73.0 million, driven by strong growth in hospitality and leasing revenues. However, net income decreased to $10.4 million due to increased pre-opening expenses for new hotels. The company is focused on long-term value creation through real estate development and operations.
Total revenue increased by 12% to $73.0 million compared to Q1 2022.
Hospitality revenue grew by 50%, reaching $24.5 million.
Leasing revenue increased by 34% to $11.8 million.
Net income decreased to $10.4 million, impacted by pre-opening expenses for new hotels.
St. Joe
St. Joe
St. Joe Revenue by Segment
Revenue by Segment
Hospitality Revenue
CapyFin.comLeasing Revenue
CapyFin.com Forward Guidance
The company expects to continue focusing on long-term value creation by developing, leasing, and operating real estate assets. They plan to open four new hotels, totaling 561 new rooms, and new club amenities.
Positive Outlook
- Focus on long term value creation
- Continue to develop new properties
- Continue to operate real estate assets
- Continue to lease real estate assets
- Expansion of operational assets such as increases in hotel rooms in 2023
Challenges Ahead
- New or increased competition across business units
- Decline in general economic conditions
- Interest rate fluctuations
- Supply chain disruptions
- Inflation
Revenue & Expenses
Visualization of income flow from segment revenue to net income