St. Joe Company JOE Q2 2026 earnings

“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.