---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-23-000621"
form_type: "8-K"
ticker: "JOE"
cik: "0000745308"
company_name: "ST JOE Co"
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T14:29:30.900910+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# St. Joe Q1 revenue up 12% to $73M; net income falls to $10.4M on pre-opening costs

## Summary
- Revenue $73.0M (+12% YoY); hospitality +50% to $24.5M, leasing +34% to $11.8M, real estate -5% to $35.0M.
- Net income attributable to Company $10.4M ($0.18/sh) vs $13.4M ($0.23/sh) in Q1 2022; pre-opening expenses $2.4M for new hotels.
- Homesite closings surged 81% to 327; average price $62K (excluding 100 SouthWood lots, ~$80K).
- Board declared $0.10 quarterly dividend, payable June 15, 2023 to holders of record May 17.
- Unconsolidated JV Latitude Margaritaville Watersound: 149 home sales in Q1, 679 homes under contract valued at $337.8M.

## SEC filing metadata
- accession: 0001157523-23-000621
- form_type: 8-K
- ticker: JOE
- cik: 0000745308
- company_name: ST JOE Co
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/745308/000115752323000621/0001157523-23-000621-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/745308/000115752323000621/a53388418.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-23-000621
- JSON: https://secwatch.observer/filing/0001157523-23-000621.json
- Plain text: https://secwatch.observer/filing/0001157523-23-000621.txt

## Key facts
- Earnings Releases
  ST JOE Co reported the quarter ended March 31, 2023 results: revenue $73.0 million, net income $10.4 million, EPS $0.18 per share.
  - Period: the quarter ended March 31, 2023
  - Revenue: $73.0 million
  - Net income: $10.4 million
  - EPS: $0.18 per share
  - Result: reported results
  source text: Revenue for the first quarter of 2023 increased by 12% to $73.0 million, compared to $64.9 million for the first quarter of 2022. Hospitality revenue increased by 50% to $24.5 million and leasing revenue increased by 34% to $11.8 million, while real estate revenue decreased by 5% to $35.0 million. Operating revenue from hospitality and leasing accounted for 50% of the Company’s revenue for the three months ended March 31, 2023, as compared to 39% for the same period in 2022. Net income attributable to the Company for the first quarter of 2023 decreased to $10.4 million, or $0.18 per share, compared to net income of $13.4 million, or $0.23 per share, for the same period in 2022, partially due to increased pre-opening costs of $2.4 million incurred in the first quarter of 2023 for the new hotel properties planned to open within the first half of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/745308/000115752323000621/0001157523-23-000621-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.