St. Joe Company Reports Record Hospitality Revenue and Organic Growth in Q3 2026
The St. Joe Company (JOE) reported third-quarter 2026 results characterized by strong organic growth in its hospitality segment, despite a slight year-over-year decline in total revenue to $156.2 million. The revenue dip was primarily due to the absence of a large asset sale from the prior year involving the Watercrest joint venture. However, operating income rose 16% to $61.5 million, driven by record hospitality revenues and improved gross margins. The company's residential and hospitality sectors showed significant momentum, with Watersound Club revenue increasing 14% and Latitude Margaritaville Watersound sales growing 24% in the first nine months of the year. Management is prioritizing shareholder returns through increased dividends and aggressive stock repurchases, while simultaneously preparing for future expansion via increased capital expenditures in commercial leasing and residential infrastructure.
Tickers: $JOE
Topics: hospitality revenue net income operating income residential sales revenue