The St. Joe pany(JOE) - 2025 Q3 - Quarterly Results

Financial Performance - Quarterly net income attributable to the Company increased by 130% to $38.7 million, or $0.67 per share, compared to $16.8 million, or $0.29 per share in Q3 2024[3] - Total consolidated revenue for Q3 2025 increased by 63% to $161.1 million, up from $99.0 million in Q3 2024[5] - For the first nine months of 2025, total consolidated revenue increased by 29% to $384.4 million, compared to $298.4 million for the same period in 2024[7] - In Q3 2025, the Company reported total revenue of $161.1 million, a 62.7% increase from $99.0 million in Q3 2024[28] - EBITDA for Q3 2025 was $68.8 million, compared to $39.9 million in Q3 2024, indicating a 72.6% increase[34] Revenue Breakdown - Real estate revenue surged by 199% to $83.8 million in Q3 2025, compared to $28.0 million in Q3 2024[13] - Hospitality revenue reached a record $60.6 million in Q3 2025, a 9% increase from $55.4 million in Q3 2024[17] - Leasing revenue set a quarterly record of $16.7 million, increasing by 7% from $15.6 million in Q3 2024[18] - Real estate revenue for Q3 2025 was $83.8 million, up from $28.0 million in Q3 2024, representing a 199.3% increase[28] Cash and Capital Management - The Company funded $20.4 million in capital expenditures and repurchased $8.7 million of common stock in Q3 2025[4] - As of September 30, 2025, the Company had $126.0 million in cash and cash equivalents, an increase from $88.8 million as of December 31, 2024[31] - The Company repurchased $8.7 million of its common stock in Q3 2025, and for the first nine months of 2025, it repurchased $24.9 million[21] - The Company funded $20.4 million in capital expenditures in Q3 2025, and $89.6 million for the first nine months of 2025[21] Debt and Assets - The weighted average effective interest rate of outstanding debt as of September 30, 2025, was 4.9%, with 80% of the debt having fixed or swapped interest rates[23] - Total assets as of September 30, 2025, were $1,533.9 million, slightly down from $1,538.6 million as of December 31, 2024[31] Future Outlook - The Company declared a cash dividend of $0.16 per share, representing a 14% increase from the previous dividend of $0.14 per share[12] - As of September 30, 2025, the Company had 1,992 residential homesites under contract, expected to generate approximately $146.2 million in revenue[15] - The Company plans to conduct an earnings call on October 30, 2025, to discuss performance and future outlook[24] Company Overview - The St. Joe Company is a diversified real estate development and asset management company focused on Northwest Florida[39] - The company intends to utilize existing assets for residential, hospitality, and commercial ventures[39] - St. Joe has significant residential and commercial land-use entitlements, actively seeking higher and better uses for its real estate assets[39]