St. Joe Reports Record Q2 Earnings Amid Strong Residential Growth and Shareholder Returns
St. Joe Company (NYSE:JOE) reported record second-quarter results for fiscal year 2026, with revenue rising 23% to $158.9 million and net income increasing by 37% to $40.5 million compared to the prior-year period. The company attributed its strong performance to improved gross margins across residential, hospitality, and commercial operations as well as robust demand in Northwest Florida driven by population growth. Residential real estate revenue surged 39%, supported by a diverse range of communities with varying price points from $200k to over $5 million. The company also announced plans for utility corridor developments that will support thousands of future homesites, though management noted potential quarterly volatility due to long development cycles. St. Joe prioritized shareholder returns in the second quarter by repurchasing $32.7 million worth of stock and paying out $9.1 million in dividends—accounting for 55% of its capital allocation. The company has spent a total of $41 million on share buybacks so far this year, reducing shares to their lowest level in nearly three decades.
Tickers: $JOE