secwatch.observer — SEC 8-K summary
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Issuer:     ST JOE Co (JOE)
CIK:        0000745308
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001157523-23-000621
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/745308/000115752323000621/0001157523-23-000621-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/745308/000115752323000621/a53388418.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000621

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