St Joe Q2 net income rises 20%
Overview
St Joe Q2 net income rises 20% yr/yr to $29.5 mln
Company Q2 revenue increases 16% yr/yr, driven by 27% rise in real estate
St Joe repurchased $10.5 mln in stock, funded $36.5 mln in capex
Outlook
Company plans to develop 3,330 residential units under Pigeon Creek DSAP
St. Joe expects revenue from 1,209 homesites under contract to be $121.7 mln
Company aims to more than double current leasable commercial space
Result Drivers
REAL ESTATE GROWTH - Real estate revenue increased by 27% due to higher homesite closings and contracts
HOSPITALITY RECORD - Hospitality revenue reached a quarterly record, growing by 10%
LEASING RECORD - Leasing revenue hit a quarterly record, increasing by 11%
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Real Estate Revenue |
| $43.80 mln |
|
Q2 Net Income |
| $29.80 mln |
|
Press Release: ID:nBwb4zw5ga
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