The St. Joe Earnings: Here’s Why the Stock is Up Now
The St. Joe Company (NYSE:JOE) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.02%.
The St. Joe Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.03 in the quarter versus EPS of $-0.01 in the year-earlier quarter.
Revenue: Decreased 12.19% to $26.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: The St. Joe Company reported adjusted EPS loss of $0.03 per share. By that measure, the company missed the mean analyst estimate of $-0.01. It beat the average revenue estimate of $25.1 million.
Quoting Management: Park Brady, St. Joe’s Chief Executive Officer, said “Our first quarter results for Residential, Forestry and Resorts and Leisure reflect operating improvements and strengthening economic conditions. On another note, our first quarter results for land sales demonstrated that it is the nature of our businesses that revenues and profits may vary on a quarterly and yearly basis due to economic cycles and the timing of business opportunities. We are bullish on the long term business prospects for the Southeastern region of the United States and we are excited about the value that we believe is embedded in our assets. We continue to reduce fixed costs and plan for higher and better uses of our substantial land bank as we witness increasing demand for ready-to-build residential lots and timber products.”
Key Stats (on next page)…