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EX - 99.1 2 a52516660ex991.htm EXHIBIT 99.1 • The St. Joe Company Reports Third Quarter 2021 Results Net Income up 94 % for the third quarter of 2021 versus the third quarter of 2020 Exhibit 99.1 • Net Cash from Operations up 79 % for the third quarter of 2021 versus the third quarter of 2020 • Record residential backlog totaling 1,661 homesites and 299 Latitude Margaritaville Watersound homes PANAMA CITY BEACH , Fla .-- ( BUSINESS WIRE ) -- October 27 , 2021 -- The St. Joe Company ( NYSE : JOE ) ( the " Company " ) today announced revenue for the third quarter of 2021 increased by 28 % to $ 53.9 million as compared to $ 42.0 million for the third quarter of 2020. The revenue growth includes a 44 % increase in leasing revenue , a 31 % increase in hospitality revenue and a 27 % increase in real estate revenue . Operating income increased by 46 % to $ 16.1 million for the three months ended September 30 , 2021 , as compared to $ 11.0 million for the three months ended September 30 , 2020. Net income for the third quarter of 2021 increased by 94 % to $ 15.2 million , or $ 0.26 per share , compared to net income of $ 7.8 million , or $ 0.13 per share , for the same period in 2020. For the nine months ended September 30 , 2021 , the Company's net income increased by 67 % to $ 42.6 million , or $ 0.72 per share , compared to net income of $ 25.4 million , or $ 0.43 per share , for the same period last year . Net Cash Provided by Operating Activities for the three months ended September 30 , 2021 increased by 79 % to $ 17.9 million compared to $ 10.0 million for the same period in 2020. For the nine months ended September 30 , 2021 , Net Cash Provided by Operating Activities increased by 189 % to $ 65.1 million , as compared to $ 22.5 million for the same period in 2020. Cash Generated for Distribution or Investment ( " CGFDI ” ) , a non - GAAP measure that is detailed in the Financial Data included below , for the three months ended September 30 , 2021 increased by 100 % to $ 30.8 million , compared to $ 15.4 million for the same period in 2020. For the nine months ended September 30 , 2021 , CGFDI increased by 115 % to $ 89.3 million , as compared to $ 41.6 million for the same period in 2020 . In the third quarter of 2021 , the Company invested $ 56.5 million in capital expenditures , which when combined with the $ 84.1 million invested in the first two quarters of 2021 , totaled $ 140.6 million for the nine months ended September 30 , 2021. In addition , the Company paid $ 4.7 million in cash dividends in each of the first three quarters of 2021. As of September 30 , 2021 , the Company had $ 130.6 million in cash , cash equivalents and other liquid investments .