St. Joe公布2026年二季度业绩，收入和净利润同比大幅增长但属于排期财报披露

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Highlights for the second quarter of 2026 as compared to the second quarter of 2025:
Quarterly net income increased by 37% to
$40.5 million
, or
$0.71
per share, from
$29.5 million
, or
$0.51
per share, the Company’s highest second quarter net income in 30 years since a one-off gain on sale of discontinued operations in 1996.
Total quarterly revenue increased by 23% to
$158.8 million
from
$129.1 million
, the Company’s highest second quarter revenue in 20 years.
Real estate revenue increased by 59% to
$69.6 million
from
$43.8 million
.
Hospitality revenue increased by 8% to a Company quarterly record of
$74.2 million
from
$68.8 million
.
In the second quarter of 2026, the Company funded
$24.0 million
in capital expenditures, repurchased
$32.7 million
of the Company's common stock (499,700 shares), paid
$9.1 million
in cash dividends and repaid
$10.9 million
of debt.
PANAMA CITY BEACH, Fla.
--(BUSINESS WIRE)--Jul. 29, 2026--
The St. Joe Company
(NYSE: JOE) (the “Company,” “We,” or “Our”) today reports second quarter and first half 2026 results.
Jorge Gonzalez
, the Company’s President, Chief Executive Officer and Chairman of the Board said, “We had a strong second quarter with total revenue increasing by 23% and net income increasing by 37%, as compared to the second quarter of 2025. It was our highest total revenue for a second quarter in 20 years and the highest net income for a second quarter in our history since a one-off gain on sale of discontinued operations 30 years ago. In addition to the growth in revenue, the Company also increased the gross margin of every segment with residential increasing to 48% from 45%, hospitality increasing to 42% from 39% and commercial increasing to 65% from 57%. This across-the-board increase in gross margin demonstrates that the Company continues to refine operations and increase profitability as we continue to scale and plan for the future. The Company has proven it can generate income, and in doing so, increase the value of the surrounding land holdings with our ‘Virtuous Circle of Value Creation’. We are seeing this model function in real time: A visiting family stays in one of our hotels and becomes introduced to our area. The family decides to purchase a home in one of our communities and hires our brokerage business, closes the purchase with our title agency, and purchases home insurance from our insurance agency. The family becomes a
Watersound Club
member. The family shops, eats, or obtains services from our commercial leasing tenants. More consumers create additional demand for commercial leasing tenants. Added commercial opportunities make our resorts and communities more appealing for residents and resort guests, which takes it full circle by helping to grow additional guests in our resorts and consumers in our residential communities. With approximately 165,000 acres of land in one of the fastest growing parts of
Florida
, we are uniquely positioned to execute the strategy of income generation and value creation.”
Mr. Gonzalez
continued, “The Company has created a diverse portfolio of residential communities with a wide range of product mix, price points, and lifestyle offerings, with home pricing ranging from the high
$200 thousands
to over
$5 million
. This diversity is contributing to the growth of the residential segment as evidenced by the 39% growth in residential real estate revenue in the second quarter compared to the same period in the prior year. Due to the one to two year seeding and harvesting cycles and the mixture of homesite pricing per community, the results of the residential segment are not linear and may vary from quarter to quarter. The Company has a runway for immediate and long-term growth with over 25,000 units in the residential homesite pipeline, of which over 2,000 units are already platted or are currently under development, and over 1,500 are units in the engineering or permitting stage. This pipeline includes the first phase of two new communities in the Teachee and Pigeon Creek Detailed Specific Area Plans (‘DSAPs’), where commencement is planned for early 2027. In the second quarter of 2026, the Company obtained approval for
Park Place East
, a new community of approximately 2,000 residential units. In addition to the demand from 18 existing homebuilders currently in our communities, the Company is in active discussions with additional homebuilders not currently in our market who want to purchase homesites in our residential communities.”
Mr. Gonzalez
concluded, “The Company continues to implement a measured and multi-faceted capital allocation strategy. As a diversified real estate operating company, our daily cash flows vary significantly throughout the year based on seasonality, the timing of the seeding and harvesting cycles of the residential communities, which for any one community or phase ranges from one to two years, the timing of major off-site utility extensions for future residential communities, and other factors like property and income tax payments. Thus, capital allocation decisions may vary quarter to quarter based on the dynamic nature of our cash flows and for stock repurchases, based on market conditions and the timing of open and closed periods relative to our cash flows. For the second quarter of 2026, the Company allocated 43% of capital to stock repurchases, 31% to capital expenditures for growth, 14% to debt repayment, and 12% to dividends. We have continued to expand our stock repurchase program. For the first six months of 2026, the Company used
$37.7 million
to repurchase common stock, an increase of 133% as compared to
$16.2 million
for the first six months of 2025. As of
June 30, 2026
, the Company had 56,991,651 outstanding shares, which is the lowest number of outstanding shares since 1997.”
Consolidated Second Quarter and First Half 2026 Results
Total consolidated revenue for the second quarter of 2026 increased by 23% to
$158.8 million
, the highest second quarter revenue in twenty years, as compared to
$129.1 million
for the second quarter of 2025. During the second quarter of 2026, real estate revenue increased by 59% to
$69.6 million
, hospitality revenue increased by 8% to a Company record of
$74.2 million
, while leasing revenue decreased by 9% to
$15.0 million
, primarily due to the sale of the Watercrest joint venture senior living community property in
September 2025
.
For the six months ended
June 30, 2026
, total consolidated revenue increased by 15% to
$257.9 million
, as compared to
$223.3 million
for the first six months of 2025. Real estate revenue increased by 33% to
$109.3 million
, hospitality revenue increased by 10% to
$118.9 million
while leasing revenue decreased by 9% to
$29.7 million
, primarily due to the sale of the Watercrest joint venture senior living community property in
September 2025
.
The Company has joint ventures which are unconsolidated and accounted for using the equity method. For the three months ended
June 30, 2026
, these unconsolidated joint ventures had
$59.0 million
of revenue, as compared to
$89.9 million
for the same period in 2025. The decrease is primarily due to the timing and number of home sales completed by the Latitude Margaritaville Watersound joint venture. For the second quarter of 2026, there were 86 completed home sales in the Latitude Margaritaville Watersound unconsolidated joint venture as compared to 137 completed home sales in the second quarter of 2025. In the second quarter of 2026, the Latitude Margaritaville Watersound joint venture placed 111 homes under contract, a 25% increase in net new contracts, compared to 89 net new contracts in the second quarter of 2025. The 111 new contracts in the second quarter of 2026 represent the highest volume since the second quarter of 2024.
The Company’s economic interests in its unconsolidated joint ventures for the three months ended
June 30, 2026
, resulted in
$4.5 million
of equity in income from unconsolidated join