The St. Joe Company reported its financial results for the third quarter ended September 30, 2026, in an 8-K filing. The company announced a quarterly cash dividend of $0.18 per share, representing a 13% increase from the previous quarter.
For the third quarter of 2026, the company reported quarterly net income of $36.9 million, or $0.65 per share, a decrease of 5% from the prior year's $38.7 million, or $0.67 per share. Operating income rose by 16% to $61.5 million, while total revenue decreased by 3% to $156.2 million.
Revenue within the hospitality segment increased by 9% to a third-quarter record of $66.0 million. The company noted that gross margins in this segment improved to 37% for the quarter. Conversely, real estate revenue decreased by 9% to $76.1 million, primarily due to the absence of the $41.0 million sale of a senior living community property that occurred in the third quarter of 2025.
For the first nine months of 2026, the company reported net income of $91.3 million, or $1.60 per share, an increase of 7% from the prior year. Total revenue for the period increased by 8% to $414.1 million.
In other developments, the company sold additional land to the Latitude Margaritaville Watersound joint venture for a contractual value of $50.4 million. This transaction is expected to add approximately 3,500 additional homesites to the community, bringing the planned total to roughly 7,200 homes. The company repurchased $27.2 million of its common stock during the third quarter.
