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MarketBeat
Tue, April 21, 2026 astatine 10:51 AM CDT 8 min read
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Q2 results: Forestar reported gross of $374.3 million (up 7%) and pre-tax income of $43.9 million, sold 2,938 tons astatine an mean terms of $112,800, and said publication worth per stock roseate 10% to $35.66 with visibility to astir $2.2 billion of aboriginal gross from contracted backlog.
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Outlook and discipline: Management updated fiscal 2026 batch transportation guidance to 14,000–14,500 tons portion maintaining gross guidance of $1.6–1.7 billion, informing of near-term affordability headwinds but stressing disciplined underwriting and semipermanent assurance successful demand.
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Liquidity, investment, and lawsuit mix: Forestar ended the 4th with much than $1 billion of liquidity (including $362 cardinal currency and $672 cardinal revolver), plans astir $1.4 cardinal of onshore concern successful FY2026, and remains babelike connected D.R. Horton portion moving to broaden builder relationships.
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Forestar Group (NYSE:FOR) reported higher gross and nett successful its fiscal 2nd quarter, portion executives cited ongoing affordability pressures successful the lodging marketplace and said the institution is managing inventory investments with “discipline and flexibility.”
President and CEO Andy Oxley said the institution generated gross of $374.3 million, up 7% from the prior-year quarter, connected 2,938 tons sold. Pre-tax income roseate 8% twelvemonth implicit twelvemonth to $43.9 million, and publication worth per stock accrued 10% from a twelvemonth agone to $35.66. Oxley besides pointed to “visibility towards $2.2 cardinal of aboriginal revenue” done the company’s contracted backlog.
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Chief Financial Officer Jim Allen said nett income attributable to Forestar accrued 2% to $32.1 million, oregon $0.63 per diluted share, compared with $31.6 million, oregon $0.62 per diluted share, successful the prior-year quarter. Allen said pre-tax nett borderline was 11.7%, compared with 11.6% a twelvemonth earlier.
Revenue of $374.3 cardinal included $42.9 cardinal successful tract income and different revenue, which Allen said was “primarily from income of residential and commercialized tracts,” and “to a lesser extent,” a 2nd merchantability of a multifamily site.
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Chief Operating Officer Mark Walker said Forestar sold 2,938 tons astatine an mean income terms of $112,800, adding that the institution expects quarterly fluctuations successful mean pricing based connected “the geographic and batch size mix” of deliveries.
Forestar’s gross nett borderline was 21.4% versus 22.6% successful the year-ago quarter. Walker attributed portion of the alteration to $6.3 cardinal of onshore enactment charges tied to deposits and pre-acquisition outgo write-offs, compared with $900,000 a twelvemonth earlier. Excluding the nett alteration successful write-offs, Walker said gross borderline would person been astir 22.9%.
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