The St. Joe Company (JOE) investor relations material

Executive summary

• Achieved record second-quarter net income of $40.5 million, up 37% year-over-year, and record second-quarter revenue of $158.9 million, up 23% year-over-year, driven by strong real estate and hospitality performance.

• Real estate revenue surged 59% to $69.6 million, hospitality revenue reached a record $78.9 million (up 10.8%), and leasing revenue declined 9% to $15.0 million due to asset sale.

• Gross margins improved across all segments: residential to 48%, hospitality to 42%, commercial to 65%.

• Declared a quarterly dividend of $0.16 per share, payable September 18, 2026.

• Maintained robust liquidity and executed significant capital expenditures, stock repurchases, and dividend payments.

Financial highlights

• Q2 2026 net income: $40.5 million ($0.71/share), up from $29.5 million ($0.51/share) in Q2 2025.

• Q2 2026 revenue: $158.9 million, up from $129.1 million in Q2 2025; six-month revenue: $257.9 million, up 15% year-over-year.

• Operating income for Q2 2026: $54.8 million, up from $37.0 million in Q2 2025.

• EBITDA for Q2 2026: $69.7 million, up 24% year-over-year.

• Cash and cash equivalents at June 30, 2026: $117.3 million.

Outlook and guidance

• Over 25,000 residential homesites in the pipeline, with more than 2,000 platted or under development and 1,500 in engineering or permitting.

• New community Park Place East (approx. 2,000 units) approved; first phase of two new communities to commence in early 2027.

• Management expects continued growth in recurring revenue and long-term value, supported by strong capital structure and land holdings.

• Future capital commitments to be funded by cash from operations, existing cash, partner capital, and financing.

• Ongoing development of utility corridors and academic health center hospital, with completion expected in 2028.