The St. Joe Company Q2 Revenue $62.3M Vs $45.1M YoY; Q2 2024 Gross Margin For The Hospitality Segment Increased To 39.2% As Compared To 26.2% YoY
Portfolio Pulse from Benzinga Newsdesk
The St. Joe Company (NYSE: JOE) reported a significant increase in Q2 2024 revenue and gross margin for its hospitality segment. Revenue rose to $62.3 million from $45.1 million YoY, and gross margin increased to 39.2% from 26.2% YoY, driven by new property openings, operational efficiencies, and increased visitation to Northwest Florida.
July 25, 2024 | 8:31 pm
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The St. Joe Company reported a 38% increase in Q2 2024 hospitality revenue to $62.3 million and a rise in gross margin to 39.2%. This strong performance is attributed to new property openings, operational efficiencies, and increased visitation to Northwest Florida.
The significant increase in both revenue and gross margin for the hospitality segment indicates strong operational performance and growth potential. This is likely to positively impact the stock price in the short term.
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