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Dec 31, 2024
St. Joe Q4 2024 Earnings Report
St. Joe reported strong fourth quarter and full year 2024 results, with significant growth in net income, revenue, and homesite closings.
Key Takeaways
The St. Joe Company announced a robust fourth quarter for 2024, with net income attributable to the Company increasing by 43% to $18.9 million and total revenue growing by 20% to $104.3 million. The company also achieved a record 331 homesite closings, an 82% increase year-over-year, and declared a quarterly dividend of $0.14 per share.
Net income attributable to the Company increased by 43% to $18.9 million in Q4 2024.
Total revenue grew by 20% to $104.3 million in Q4 2024, driven by strong performance across all segments.
Homesite closings volume reached a single quarter record of 331 homesites, an 82% increase from the prior year.
The company increased its stock repurchase authority to $100 million and declared a quarterly dividend of $0.14 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 St. Joe Company anticipates continued growth and value creation, driven by strong demand across all segments in Northwest Florida, disciplined capital allocation, and ongoing development projects. The company expects to deliver attractive shareholder returns over the long-term.
Positive Outlook
- Continued strong demand across all segments, attributed to influx of visitors and new residents in Northwest Florida.
- Commitment to disciplined capital allocation, including investments in business, dividends, and opportunistic stock repurchases.
- Ongoing expansion of operational assets, such as increases in hotel rooms, to support growth.
- Plans to maintain an efficient cost structure to enhance profitability.
- Continued focus on creating long-term shareholder value through joint venture developments and new projects.
Challenges Ahead
- Potential impact of new or increased competition across business units.
- Risks associated with interest rate fluctuations and inflation.
- Potential for supply chain disruptions and geopolitical conflicts.
- Uncertainty regarding the outcome of the 2024 U.S. presidential election and its impact on fiscal and regulatory priorities.
- Challenges in attracting and retaining qualified employees, particularly in the hospitality business.