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Sep 30, 2021
St. Joe Q3 2021 Earnings Report
St. Joe's Q3 2021 earnings increased, driven by revenue growth across all segments.
Key Takeaways
St. Joe Company reported a strong third quarter in 2021, with revenue up 28% to $53.9 million compared to $42.0 million in the third quarter of 2020. Net income increased by 94% to $15.2 million, or $0.26 per share. The company saw revenue growth in leasing, hospitality, and real estate.
Total revenue increased by 28% compared to Q3 2020.
Net income increased by 94% compared to Q3 2020.
Leasing revenue increased by 44% due to project completions.
Hospitality revenue increased by 31% due to membership growth and visitor activity.
Revenue by Segment
Forward Guidance
The company is focused on long-term growth potential and building recurring revenue through hospitality and commercial segments. They are expanding operational assets and managing costs to maintain efficiency.
Positive Outlook
- Company's revenue exceeded the total revenue for all of 2020 through the first nine months of 2021.
- Hospitality and commercial segments generated $90.8 million of revenue in the first nine months of 2021, a 47% increase.
- 665 additional apartment and senior living units and 677 additional hotel rooms are currently under construction.
- Club membership growth is accelerating, with 207 new members added in Q3 2021.
- Recurring club revenue increased by 21% compared to the same period in 2020.
Challenges Ahead
- Potential impacts of the ongoing COVID-19 pandemic.
- Dependence on strong migration and population expansion in Northwest Florida.
- Volatility in the consistency and pace of residential real estate sales.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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