FOR
Forestar Group Inc.26.83
+0.17+0.64%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Q&A details margin mix, demand tweaks
Q&A clarified softer demand impacts without walk-backs or new guidance. Management expects gross margins at the lower end of their 21-23% historical range, blaming Q1 mix and price-pace balancing in slower markets. Customers have normalized to quarterly takedowns from post-COVID bulk deals, with little price resistance. They're selectively moderating development in inventory-heavy Texas and Florida, yet committed to entry-level focus via West expansion. Smaller phase sizes aid cycle times, no cost hits. Headcount remains flat. Disciplined tone prevails; watch geo pacing and margins.
Key Stats
Market Cap
1.36BP/E (TTM)
8.16Basic EPS (TTM)
3.29Dividend Yield
0%Recent Filings
10-Q
Q1 FY2026 results
Forestar posted Q1 FY2026 revenues of $273M, up 9% y/y from $250.4M, driven by tract sales jumping to $37.8M while residential lot sales dipped to $235.2M on fewer units yet 15% higher average price. Pre-tax income slipped to $20.8M from $21.9M, with gross margin squeezed by elevated development costs and $0.8M land option charges; diluted EPS held at $0.30 on 51.2M shares. Cash fell to $211.7M after $157M operating outflow, offset by repaying $9.9M debt, leaving $793.2M total debt and $607.6M revolver capacity. D.R. Horton took 67% of lots sold. Strong liquidity persists. Litigation over D.R. Horton deals lingers.
8-K
Stockholders approve directors, pay
Forestar Group stockholders overwhelmingly elected all seven director nominees at the January 19, 2026 Annual Meeting, with each receiving over 45 million 'For' votes from 48.5 million shares represented. They approved executive compensation on an advisory basis and ratified Ernst & Young as auditors for fiscal 2026. Board continuity intact.
8-K
Q1 revenues up 9%, net income dips
Forestar Group reported fiscal 2026 Q1 net income of $15.4 million, down 7% from prior year, yet revenues climbed 9% to $273.0 million on 1,944 lots sold despite 17% volume drop. Balance sheet stays rock-solid: $819.3 million liquidity, 101,000 lots position, $2.2 billion contracted revenue. Fiscal 2026 guidance holds at 14,000-15,000 lots for $1.6-$1.7 billion revenue.
10-K
FY2025 results
Forestar sold 14,240 lots in FY2025 ended September 30 at $108,400 average—up 12% y/y (derived)—driving revenues to $1.66B, a 10% gain despite 6% fewer lots than FY2024's 15,068. Net income fell to $168M from $203M as SG&A climbed to 9.3% of sales amid 10% headcount growth to 433, yet Q4 typically packs heaviest seasonal punch with greater lot deliveries. Debt hit $803M (31% of capital) after swapping lower-coupon notes for $500M 6.5% 2033s, leaving $379M cash and $589M revolver capacity. D.R. Horton took 83% of lots. Elevated mortgage rates crimp affordability, slowing momentum.
8-K
Forestar's 2025 results mixed
Forestar Group Inc. reported fiscal 2025 results with net income of $167.9 million, down 17% from prior year amid fewer lots sold, yet revenues climbed 10% to $1.7 billion on 14,240 lots. The company bolstered its lot position to 99,800 owned and controlled, with $2.1 billion in contracted future revenue, while trimming debt by redeeming $70.6 million in notes. Strong Q4 drove book value per share up 11% to $34.78. Liquidity stands at $968.1 million.
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