Excluding conservation land sales, net EBITDA was $33 million or 39 cents per share compared with $27.1 million or 31 cents per share for the same quarter last year.
Net income, however, was down. The $16 million or 19 cents per share was off from $20.8 million or 24 cents recorded last year.
Arvida Realty Services, a St. Joe subsidiary that handles residential and commercial, is expected to contribute strong fourth-quarter results in the residential category, Peter S. Rummell, St. Joe's chairman/CEO, says in a prepared statement.
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