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Mar 31
St. Joe Q1 2025 Earnings Report
St. Joe reported increased net income, revenue, and key operational metrics for the first quarter of 2025.
Key Takeaways
The St. Joe Company achieved a 26% increase in net income attributable to the Company, reaching $17.5 million, and a 7% increase in total revenue to $94.2 million for the first quarter of 2025, marking its highest first quarter revenue outside of the 2014 timberland sale. This growth was driven by strong performance in real estate, leasing, and hospitality segments.
Net income attributable to the Company increased by 26% to $17.5 million from $13.9 million in the prior year.
Total revenue grew by 7% to $94.2 million, the highest first quarter revenue excluding the 2014 timberland sale.
Real estate revenue increased by 12% to $38.3 million, with homesite closings up 15% to 249 units.
Leasing revenue reached a quarterly record of $16.3 million, a 14% increase from the previous year.
St. Joe
St. Joe
St. Joe Revenue by Segment
Revenue by Segment
Real Estate Revenue
CapyFin.comHospitality Revenue
CapyFin.comLeasing Revenue
CapyFin.com Forward Guidance
The St. Joe Company anticipates continued growth and successful execution of its strategic plan, leveraging existing assets for residential, hospitality, and commercial ventures. The company expects to benefit from ongoing investments, joint venture developments, and regional growth drivers.
Positive Outlook
- Continued investment in the business and execution of a measured and multi-faceted capital allocation strategy.
- Leveraging existing assets to build a diverse portfolio of supplemental asset-light businesses and create residual revenue streams.
- Strategic land reserves in prime locations for future developments like Watersound Real Estate.
- Transformative regional developments such as the $414 million FSU Health teaching and research hospital.
- Continued growth in air travel and passenger counts, indicating strong regional expansion.
Challenges Ahead
- Potential for actual results to differ materially from forward-looking statements due to various risks and uncertainties.
- Exposure to new or increased competition across business units.
- Vulnerability to declines in general economic conditions, particularly in primary markets.
- Risks associated with interest rate fluctuations, inflation, and financial institution disruptions.
- Challenges in successfully executing or integrating new business endeavors and acquisitions, and completing construction projects within expected timeframes.