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Jun 30, 2025
St. Joe Q2 2025 Earnings Report
The St. Joe Company reported increased net income and revenue for the second quarter of 2025, driven by strong performance in real estate, hospitality, and leasing segments.
Key Takeaways
The St. Joe Company delivered solid organic growth in Q2 2025, with a 16% increase in total revenue to $129.1 million and a 20% rise in net income to $29.5 million. This performance was primarily fueled by a 27% growth in real estate revenue, alongside record quarterly revenues in hospitality and leasing.
Net income attributable to the Company increased by 20% to $29.5 million, or $0.51 per share, compared to $24.5 million, or $0.42 per share, in Q2 2024.
Total revenue grew by 16% to $129.1 million, up from $111.6 million in the prior year's second quarter.
Real estate revenue saw a significant 27% increase to $43.8 million, with homesite closings volume rising by 21% to 225 homesites.
Hospitality revenue reached a quarterly record of $68.8 million, a 10% increase, and leasing revenue also hit a record of $16.5 million, up 11%.
Revenue by Segment
Forward Guidance
The company is focused on continued organic growth and strategic capital allocation, including investments in development, dividends, and stock repurchases, while planning for future expansion through new development approvals.
Positive Outlook
- Continued solid organic growth with strong revenue and net income increases.
- Strategic plan implementation to grow recurring revenue, as evidenced by record hospitality and leasing revenues.
- Measured and multi-faceted capital allocation strategy, including capital expenditures, dividends, stock repurchases, and debt repayment.
- Approval of Pigeon Creek Detailed Specific Area Plan (DSAP) for 3,330 residential units and 450,000 square feet of commercial development, providing a long runway for future growth.
- Expansion of the Board of Directors with a new independent director bringing extensive finance and audit expertise.
Challenges Ahead
- Macro-economic headwinds in some parts of the country, though the company showed resilience.
- Decrease in average base price and gross margin for homesite sales compared to the prior year, due to mix of sales in different communities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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