Saint Joe Co. reports Q2 EPS 60c vs. 29c last year

Reports Q2 revenue $128.1M vs. $68.2M last year. The company said, “We showed solid organic growth in the quarter across each of our segments without any unique one-time events. We grew revenue in the second quarter of 2023 by 88% and net income attributable to the Company by 104%. Our real estate revenue grew by 148% to $69.3 million. Our hospitality revenue grew by 52% to $45.1 million even with four of the new hotels not being open at the start of the quarter. Our leasing revenue grew by 33% to $12.4 million. “We sold 300 homesites in the second quarter of 2023 as compared to 231 homesites in the second quarter of 2022. The 300 homesite sales were across 10 different communities, sold to 10 separate homebuilders and various retail customers, with the average base revenue per homesite increasing to $153,000 when compared to $83,000 for the second quarter of 2022.”