Loading...
•
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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...