St. Joe reported a decrease in total revenue by 13% to $111.6 million compared to Q2 2023, driven by a significant decrease in real estate revenue. However, hospitality revenue increased by 38%, and leasing revenue increased by 19%. Net income attributable to the Company decreased by 29% to $24.5 million, or $0.42 per share.
Hospitality revenue increased by 38%, reaching a new company quarterly record.
Leasing revenue increased by 19%, driven by additional commercial projects.
Real estate revenue decreased by 51% due to the timing and mix of sales.
The company increased the quarterly dividend by 17% to $0.14 per share.
The company did not provide specific forward guidance but emphasized its focus on creating long-term shareholder value through investments in recurring revenue streams and returning capital to shareholders.
Visualization of income flow from segment revenue to net income
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