St. Joe Narrows 3Q Loss As Real Estate Sales Climb

Stock quotes in this article: JOE  

Expenses jumped 25 percent, with the cost of real estate sales accounting for nearly all of the increase.

St. Joe is in the midst of planning and design work on a 1,000-acre project adjacent to a new airport slated to open in near Panama City, Fla., in May. The company led an effort to bring Southwest Airlines to the airport, an agreement announced Oct. 21. President and CEO Britt Greene said that deal will help business in the region.

St. Joe shares fell 34 cents to $23.78 in Tuesday morning trading.

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