St. Joe full-year 2023 revenue rose 54% to $389.2 million; net income up 10%
St. Joe reported fourth-quarter and full-year 2023 results on February 21, 2024. Full-year revenue rose 54% to $389.2 million and net income attributable to the company rose 10% to $77.7 million, but fourth-quarter net income fell to $13.2 million from $28.1 million a year earlier. The board also declared a quarterly dividend of $0.12 per share.
- Full-year 2023 revenue was $389.2 million, up from $252.3 million in 2022; net income attributable to the company was $77.7 million, or $1.33 per share, versus $70.9 million, or $1.21 per share.
- Fourth-quarter 2023 revenue rose 41% to $86.7 million, but net income attributable to the company fell to $13.2 million, or $0.23 per share, from $28.1 million, or $0.48 per share.
- The board declared a $0.12 per share cash dividend, payable March 27, 2024, to shareholders of record as of March 4, 2024.
- Full-year 2022 net income included about $16.2 million after-tax gain on the Sea Sound Apartments sale and about $7.3 million after-tax gain on insurance recoveries.