St Joe Earnings: Profit Swings Up and Beats Forecast

St Joe Co. (NYSE:JOE) reversed to a profit in the third quarter, beating Wall Street estimates. The St Joe Company is a real estate development company which is engaged in residential, commercial and industrial development and rural land sales.

Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now

St Joe Co. Earnings Cheat Sheet

Results: Reported a profit of $15.3 million (17 cents per diluted share) in the quarter. St Joe Co. had a net loss of $2.4 million or a loss 3 cents per share in the year-earlier quarter.

Revenue: Fell 100% to $55.9 from the year-earlier quarter.

Actual vs. Wall St. Expectations: St Joe Co. beat the mean analyst estimate of a loss of one cent per share. It fell short of the average revenue estimate of $19.8 million.

Quoting Management: Park Brady, St. Joe’s Chief Executive Officer, said “We had a good third quarter fueled by improvements in all of our business lines. The rural land sales were opportunistic sales of property that were not strategic to our business focus. Despite a slow economy, our residential development, resorts and timber businesses all showed improvement compared to last year. We prepaid over $19 million of debt at one of our residential projects, and we still have $172 million of cash and cash equivalents, which is slightly more than last quarter. We will continue to seek market opportunities in our resort and primary home communities while also exploring longer term opportunities that take advantage of changing demographics, such as retirement communities.”

Key Stats:

For three consecutive quarters, the company has topped analyst estimates. It beat the mark by 2 cents in the second quarter and by 7 cents in the first quarter.

Revenue fell last quarter after increasing in the previous quarter. Revenue rose 20.1% to $30.4 million in the second quarter from the year earlier.

Looking Forward: Expectations for the company’s next-quarter performance are higher than they were ninety days ago. The average estimate for the fourth quarter is now at a loss of one cent per share, up from a loss of 2 cents. The average estimate for the fiscal year is now 3 cents per share, a rise from the 8 cents predicted ninety days ago.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

Don’t Miss These Additional Hot Stories:

Is Ford’s Stock a Buy After a Record Quarter?

Will Sirius’s Stock Still Be a Buy After the Buyout?

Is Facebook Harmful to Your Health and Wallet?