Families Flock to Northwest Florida for Holiday Weekend, Resulting in Strong Performance for St. Joe ® Hotels and Hospitality Assets
'Guests traveled from 37 different states to stay at our hotel properties on the Fourth of July, demonstrating the continued strength of our hospitality offerings and of the Emerald Coast as a travel destination,' said Patrick Murphy, St. Joe Senior Vice President of Hospitality. 'The region continues to attract more visitors and residents from all over the country, and we're proud to be at the forefront of that growth by delivering exceptional guest experiences that reflect the very best of Northwest Florida.'
Each of the St. Joe properties, including hotels, restaurants, retail centers, golf courses and marinas, welcomed families celebrating the holiday weekend whether they were vacationing, shopping, dining or experiencing the region's numerous events. Camp Creek ® Inn had an estimated 2,000 Watersound Club ® members and guests in attendance for fireworks, live music and family entertainment. Guests at Embassy Suites by Hilton Panama City Beach had front row seats to the Star Spangled Spectacular event in Panama City Beach ('PCB')—one of several events that, according to tourism officials, attracted an estimated 150,000 visitors to PCB. In downtown Panama City, Hotel Indigo and Harrison's Kitchen and Bar ('Harrison's') guests enjoyed the fireworks of Panama City's Salute to Freedom Festival and Harrison's inaugural Red, White and Boil event.
To view a gallery of images from the celebration at Camp Creek Inn, click here. For more information about St. Joe hospitality offerings, visit joe.com/vacation.
About The St. Joe Company
The St. Joe Company ('Company') is a diversified real estate development, asset management and operating company with real estate assets and operations in Northwest Florida. The Company intends to use existing assets for residential, hospitality and commercial ventures and has significant residential and commercial land-use entitlements. The Company actively seeks higher and better uses for its real estate assets through a range of development activities. More information about St. Joe can be found on its website at www.joe.com.
©2025 The St Joe Company. All Rights Reserved. 'St. Joe ®,' 'JOE ®,' the 'Taking Flight' Design ®,' and 'St. Joe (and Taking Flight Design) ®,' 'Camp Creek ® ' and 'Watersound Club ® ' are service marks of The St. Joe Company.
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A replay of the teleconference will be available shortly after the call through July 24, 2025, by dialing 877-481-4010 and providing passcode 52484. A webcast replay will also be available on the company's website, on the Investors page. About Methode Electronics, Electronics, Inc. (NYSE: MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. We design, engineer, and produce mechatronic products for OEMs utilizing our broad range of technologies for user interface, lighting system, power distribution and sensor applications. Our solutions are found in the end markets of transportation (including automotive, commercial vehicle, e-bike, aerospace, bus, and rail), cloud computing infrastructure, construction equipment, and consumer appliances. Our business is managed on a segment basis, with those segments being Automotive, Industrial, and Interface. Non-GAAP Financial MeasuresTo supplement the company's financial statements presented in accordance with generally accepted accounting principles in the United States ('GAAP'), Methode uses Adjusted Net Income (Loss), Adjusted Earnings (Loss) Per Diluted Share, Adjusted Pre-Tax Income (Loss), Adjusted Income (Loss) from Operations, EBITDA, Adjusted EBITDA, Net Debt and Free Cash Flow as non-GAAP measures. Reconciliation to the nearest GAAP measures of all non-GAAP measures included in this press release can be found at the end of this release. Methode's definitions of these non-GAAP measures may differ from similarly titled measures used by others. These non-GAAP measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP. The company believes that these non-GAAP measures are useful because they (i) provide both management and investors meaningful supplemental information regarding financial performance by excluding certain expenses and benefits that may not be indicative of recurring core business operating results, (ii) permit investors to view Methode's performance using the same tools that management uses to evaluate its past performance, reportable business segments and prospects for future performance, (iii) are commonly used by other companies in our industry and provide a comparison for investors to the company's performance versus its competitors and (iv) otherwise provide supplemental information that may be useful to investors in evaluating Methode. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect, when made, our current views with respect to current events and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to our operations and business environment, which may cause our actual results to be materially different from any future results, expressed or implied, by such forward-looking statements. All statements that address future operating, financial or business performance or our strategies or expectations are forward-looking statements. In some cases, you can identify these statements by forward-looking words such as 'may,' 'might,' 'will,' 'should,' 'expects,' 'plans,' 'intends,' 'anticipates,' 'believes,' 'estimates,' 'predicts,' 'projects,' 'potential,' 'outlook' or 'continue,' and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: Dependence on the automotive, commercial vehicle, and construction industries; Timing, quality and cost of new program launches; Changes in electric vehicle ('EV') demand; Investment in programs prior to the recognition of revenue; Impact from production delays or cancelled orders; Changes in global trade policies, including tariffs; Failure to attract and retain qualified personnel; Impact from inflation; Dependence on the availability and price of materials; Dependence on a small number of large customers; Dependence on our supply chain; Risks related to conducting global operations; Effects of potential catastrophic events or other business interruptions; Ability to withstand pricing pressures, including price reductions; Ability to compete effectively; Our lengthy sales cycle; Risks relating to our use of requirements contracts; Potential work stoppages; Ability to successfully benefit from acquisitions and divestitures; Ability to manage our debt levels; Ability to comply with restrictions and covenants under our credit agreement; Interest rate changes and variable rate instruments; Timing and magnitude of costs associated with restructuring activities; Recognition of goodwill and other intangible asset impairment charges; Risks associated with inventory; Ability to remediate a material weakness in our internal control over financial reporting; Currency fluctuations; Income tax rate fluctuations; Judgments related to accounting for tax positions; Risks associated with litigation and government inquiries; Risks associated with warranty claims; Impact of changing government regulations; Changing requirements by stakeholders on environmental or social matters; Effects of IT disruptions or cybersecurity incidents; Ability to innovate and keep pace with technological changes; and Ability to protect our intellectual property. Additional details and factors are discussed under the caption 'Risk Factors' in our periodic reports filed with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. Any forward-looking statements made by us speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, subsequent events or otherwise. For Methode Electronics, K. CherryVice President, Investor Relationsrcherry@ METHODE ELECTRONICS, INC. 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AND SUBSIDIARIESRECONCILIATION OF NON-GAAP MEASURES (unaudited)(in millions) Three Months Ended Fiscal Year Ended May 3, 2025 April 27, 2024 May 3, 2025 April 27, 2024 (13 Weeks) (13 Weeks) (53 Weeks) (52 Weeks) EBITDA: Net loss $ (28.3 ) $ (57.3 ) $ (62.6 ) $ (123.3 ) Income tax expense (benefit) (2.1 ) (5.8 ) 12.5 (4.8 ) Interest expense, net 5.5 4.5 22.0 16.7 Amortization of intangibles 5.8 6.0 23.4 24.0 Depreciation 10.2 8.6 35.1 33.9 EBITDA (8.9 ) (44.0 ) 30.4 (53.5 ) Goodwill impairment — 49.4 — 105.9 Acquisition costs — — — 0.5 Acquisition-related costs - purchase accounting adjustments related to inventory — — — 0.5 Transformation costs * — — 8.7 — Partial write-off of unamortized debt issuance costs — — 1.2 — Restructuring costs and asset impairment charges 2.0 2.3 2.7 3.7 Net gain on sale of non-core assets (0.2 ) (2.4 ) (0.5 ) (1.8 ) Adjusted EBITDA $ (7.1 ) $ 5.3 $ 42.5 $ 55.3 * Represents professional fees related to the Company's cost reduction initiative. Three Months Ended Fiscal Year Ended May 3, 2025 April 27, 2024 May 3, 2025 April 27, 2024 (13 Weeks) (13 Weeks) (53 Weeks) (52 Weeks) Free Cash Flow: Net cash provided by operating activities $ 35.4 $ 24.9 $ 26.4 $ 47.5 Purchases of property, plant and equipment (9.1 ) (9.1 ) (41.6 ) (50.2 ) Free cash flow $ 26.3 $ 15.8 $ (15.2 ) $ (2.7 ) May 3, 2025 February 1, 2025 April 27, 2024 Net Debt: Short-term debt $ 0.2 $ 0.2 $ 0.2 Long-term debt 317.4 327.7 330.7 Total debt 317.6 327.9 330.9 Less: cash and cash equivalents (103.6 ) (103.8 ) (161.5 ) Net debt $ 214.0 $ 224.1 $ 169.4 METHODE ELECTRONICS, INC. AND SUBSIDIARIESRECONCILIATION OF NON-GAAP MEASURES (unaudited)(in millions, except per share data) Three Months Ended May 3, 2025 (13 Weeks) April 27, 2024 (13 Weeks) Loss from operations Pre-tax loss Net loss Diluted (loss) income per share Loss from operations Pre-tax loss Net loss Diluted (loss) income per share U.S. GAAP (as reported) $ (23.6 ) $ (30.4 ) $ (28.3 ) $ (0.80 ) $ (61.5 ) $ (63.1 ) $ (57.3 ) $ (1.63 ) Goodwill impairment — — — $ — 49.4 49.4 49.4 $ 1.40 Acquisition-related costs - purchase accounting adjustments related to inventory — — — $ — — — — $ — Transformation costs — — — $ — — — — $ — Restructuring costs and asset impairment charges 2.0 2.0 1.6 $ 0.05 2.3 2.3 1.9 $ 0.05 Net gain on sale of non-core assets — (0.2 ) (0.2 ) $ (0.01 ) — (2.4 ) (1.9 ) $ (0.05 ) Valuation allowance on deferred tax assets — — (0.5 ) $ (0.01 ) — — — $ — Non-U.S. GAAP (adjusted) $ (21.6 ) $ (28.6 ) $ (27.4 ) $ (0.77 ) $ (9.8 ) $ (13.8 ) $ (7.9 ) $ (0.23 ) Fiscal Year Ended May 3, 2025 (53 Weeks) April 27, 2024 (52 Weeks) Loss from operations Pre-tax loss Net loss Diluted (loss) income per share Loss from operations Pre-tax loss Net loss Diluted (loss) income per share U.S. GAAP (as reported) $ (23.9 ) $ (50.1 ) $ (62.6 ) $ (1.77 ) $ (112.0 ) $ (128.1 ) $ (123.3 ) $ (3.48 ) Goodwill impairment — — — $ — 105.9 105.9 105.9 $ 2.99 Acquisition costs — — — $ — 0.5 0.5 0.4 $ 0.01 Acquisition-related costs - purchase accounting adjustments related to inventory — — — $ — 0.5 0.5 0.4 $ 0.01 Transformation costs 8.7 8.7 6.7 $ 0.19 — — — $ — Partial write-off of unamortized debt issuance costs — 1.2 0.9 $ 0.03 — — — $ — Restructuring costs and asset impairment charges 2.7 2.7 2.2 $ 0.06 3.7 3.7 3.0 $ 0.08 Net gain on sale of non-core assets — (0.5 ) (0.4 ) $ (0.01 ) — (1.8 ) (1.4 ) $ (0.04 ) Valuation allowance on deferred tax assets — — 13.5 $ 0.38 — — — $ — Non-U.S. GAAP (adjusted) $ (12.5 ) $ (38.0 ) $ (39.7 ) $ (1.12 ) $ (1.4 ) $ (19.3 ) $ (15.0 ) $ (0.43 ) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
