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St. Joe Posts 1Q Loss Amid Declining Land Sales

Stock quotes in this article: JOE  

JACKSONVILLE, Fla. (AP) — St. Joe Co., which develops real estate and owns land in Florida, said Tuesday it posted a loss during the first quarter due to continued weakness in the real estate market and declining rural land sales.

St. Joe reported a net loss of $11.7 million, or 13 cents per share, compared with earnings of $32.1 million, or 40 cents per share, during the first quarter last year.

Analysts polled by Thomson Reuters, on average, forecast a loss of 2 cents per share for the quarter. ...

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