- Residential real estate revenue increased $1.0 million due to an increase in the number of residential lots sold in the Company’s primary home communities.
- Resorts, leisure and leasing operations revenue increased $4.2 million. $2.1 million of that increase is related to specific sales of operating properties. The remaining $2.1 million increase is due to higher average room rates, a greater number of homes in the Company’s vacation rental business, and the continuing positive impact of commercial leases.
- The volume of timber delivered was lower due to unusually high amounts of rain over the summer months. Forestry revenue decreased $1.9 million primarily due to a decrease in the tons of timber delivered offset by higher prices per ton.
- Commercial real estate and rural land sales revenue were minimal in the three months ending September 30, 2013, as compared to a total of $22.5 million in the third quarter of 2012.
The St. Joe Company Reports Third Quarter 2013 Results
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