St. Joe Company Reports 15.7% Revenue Growth and 20.4% Increase in Net Income for Q2 2025

The St. Joe Company reported a notable increase in financial performance for the second quarter of 2025, with total revenue rising 15.7% to $129.1 million, compared to $111.6 million in the same period last year. The company's net income attributable to shareholders also saw a significant increase of 20.4%, reaching $29.5 million, up from $24.5 million in the prior year. This growth was driven by strong performance across all segments, particularly in real estate and hospitality, where revenues increased by 27.0% and 10.4%, respectively.

In terms of operational metrics, the company reported a 21.0% increase in homesite closings, with 225 homesites sold during the quarter, compared to 186 in the same period of 2024. The average revenue per homesite sold was approximately $122,000, reflecting a shift in the mix of sales across different communities. Hospitality revenue reached a record $68.8 million, attributed to increased membership dues and enhanced hotel operations, while leasing revenue also grew by 11.5% to $16.5 million.

The company's balance sheet showed total assets of $1.55 billion as of June 30, 2025, a slight increase from $1.54 billion at the end of 2024. Total liabilities decreased to $798.5 million from $801.8 million, primarily due to a reduction in net debt. The company’s equity increased to $749.9 million, up from $736.7 million, bolstered by retained earnings which rose to $484.9 million from $454.2 million. The company also repurchased 359,014 shares of its common stock during the first half of 2025, reflecting a commitment to returning value to shareholders.

Strategically, St. Joe continues to focus on its core business of real estate development, asset management, and operations, with plans to expand its portfolio of income-producing properties. The company is actively developing various residential, commercial, and hospitality projects in Northwest Florida, leveraging its significant land holdings and market demand. Despite facing macroeconomic challenges such as elevated interest rates and inflation, the company remains optimistic about its growth trajectory, supported by strong demand in its markets and a favorable demographic trend of increased migration to the region.

Looking ahead, St. Joe anticipates continued growth in revenue and profitability, driven by its strategic initiatives and the ongoing development of its real estate assets. The company plans to fund future capital commitments through cash generated from operations, existing cash reserves, and financing arrangements, ensuring sufficient liquidity to meet its operational needs and support its growth objectives.