UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                 CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934


          Date of report (Date of earliest event reported)      May 2, 2006
                                                           --------------------

                               The St. Joe Company
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)


           Florida                   1-10466                 59-0432511
------------------------------  ------------------  ----------------------------
 (State or Other Jurisdiction      (Commission             (IRS Employer
      of Incorporation)            File Number)          Identification No.)



      245 Riverside Avenue, Suite 500
            Jacksonville, FL                                   32202
--------------------------------------------              ----------------
  (Address of Principal Executive Offices)                   (Zip Code)


                                 (904) 301-4200
             -------------------------------------------------------
              (Registrant's Telephone Number, Including Area Code)


                                 Not Applicable
   --------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-(c))





ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On May 2, 2006, The St. Joe Company (the "Company") issued a press release
announcing the Company's financial results for the quarter ended March 31, 2006.
A copy of the press release is furnished with this Form 8-K as Exhibit 99.1.



ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(c) Exhibits

99.1   Press Release dated May 2, 2006





                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                             THE ST. JOE COMPANY


Dated: May 2, 2006                           By:  /s/ Michael N. Regan
                                                  ------------------------------
                                                      Michael N. Regan
                                                      Senior Vice President -
                                                      Finance and Planning