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Sep 30, 2020
St. Joe Q3 2020 Earnings Report
St. Joe's Q3 2020 results were announced, showing revenue growth across all segments and the initiation of a quarterly dividend program.
Key Takeaways
St. Joe Company reported a 28% increase in total revenue to $42.0 million for Q3 2020, compared to $32.8 million in Q3 2019. This growth was driven by increases in real estate, leasing, and hospitality revenues. The company's operating income increased by 49%, and net income rose by 37% to $7.8 million, or $0.13 per share.
Total revenue increased by 28% to $42.0 million compared to Q3 2019.
Real estate revenue increased by 37%, hospitality revenue increased by 21%, and leasing revenue increased by 22%.
Operating income increased by 49% compared to the same period in 2019.
The Board of Directors authorized a new quarterly cash dividend program, declaring a dividend of $0.07 per share.
Revenue by Segment
Forward Guidance
The company anticipates continued progress in operations, revenue growth, and bottom-line expectations from new projects and phases. They expect revenues from sales of residential homesites, continued cost discipline, and growth of the dividend with earnings.
Positive Outlook
- Expected revenues from sales of residential homesites
- Continued cost discipline to maintain an efficient cost structure
- Capital allocation initiatives, including the timing and amount of dividends
- Timing of new projects in 2020
- Continued progress in operations, including revenue growth and bottom line expectations from new projects or phases
Challenges Ahead
- Potential impacts of the ongoing COVID-19 pandemic
- Changes in strategic objectives or the ability to successfully implement such strategic objectives
- Ability to successfully execute newer business ventures, including expansion of portfolio of income producing commercial and multi-family properties, assisted living communities and hotels some or all of which may be negatively impacted by the COVID-19 pandemic
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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