The St. Joe Company (JOE) Q4 2024 earnings summary

Executive summary

• Net income for Q4 2024 rose 43% year-over-year to $18.9M; full-year net income declined 5% to $74.2M.

• Q4 2024 revenue increased 20% to $104.3M; full-year revenue up 3% to $402.7M.

• Record hospitality and leasing revenues for the year; hospitality up 31% to $199.2M, leasing up 19% to $60.3M.

• Board declared a $0.14/share dividend and increased stock repurchase authority to $100M.

• Strong demand across all segments, with record homesite closings and robust joint venture contributions.

Financial highlights

• Q4 2024 EBITDA rose 25% to $42.5M; full-year EBITDA up 4% to $166.7M.

• Q4 EPS was $0.32, up from $0.23; full-year EPS was $1.27, down from $1.33.

• Cash and equivalents at year-end were $88.8M, up from $86.1M a year prior.

• Total assets at year-end were $1.54B; debt was $437.8M, representing 28% of total assets.

Outlook and guidance

• Management anticipates continued momentum in 2025, citing strong demand and a robust development pipeline.

• Focus remains on recurring revenue growth, disciplined capital allocation, and long-term shareholder value.