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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.
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 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
- Potential negative impact of longer-term property development strategy, including losses and negative cash flows for an extended period of time if self-development of granted entitlements continues
- Significant decreases in the market value of investments in securities or any other investments
Revenue & Expenses
Visualization of income flow from segment revenue to net income