St. Joe Q4 2024 Earnings Report
Key Takeaways
St. Joe Company reported a strong fourth quarter in 2024, with a 20% increase in revenue to $104.3 million and a 43% increase in net income to $18.9 million. The company saw growth across all segments, including real estate, hospitality and leasing. They also declared a quarterly dividend of $0.14 per share and increased the stock repurchase authority to $100 million.
Quarterly net income attributable to the Company increased by 43% to $18.9 million.
Quarterly revenue increased by 20% to $104.3 million.
Real estate revenue increased by 23% with homesite closings volume increasing 82%.
Leasing revenue increased by 15% with 95% of net rentable square feet leased.
St. Joe
St. Joe
St. Joe Revenue by Segment
Forward Guidance
The St. Joe Company is optimistic about its prospects, citing strong demand across all segments due to the influx of visitors and new residents discovering Northwest Florida's quality of life. The company is committed to disciplined capital allocation, including business investments, dividends, and stock repurchases, to deliver attractive long-term shareholder returns.
Positive Outlook
- Continued influx of visitors and new residents discovering the high quality of life in Northwest Florida.
- Commitment to disciplined capital allocation.
- Focus on creating long-term shareholder value.
- Momentum and outlook for 2025 and beyond.
- Potential for long-term value creation through consolidated and unconsolidated joint ventures.
Challenges Ahead
- Ability to successfully implement strategic objectives.
- New or increased competition across business units.
- Decline in general economic conditions, particularly in primary markets.
- Interest rate fluctuations and inflation.
- Financial institution disruptions and supply chain disruptions.