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Forestar Group Inc (FOR)
NYSE:FOR
Earnings Data
Report Date
Apr 16, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.64Last Year’s EPS
0.62Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a generally positive operational and financial position: revenue growth (+9% YoY), a 10% increase in book value per share, strong liquidity ($820M), and a large contracted backlog (~$2.2B) and strategic customer relationships (notably D.R. Horton). These strengths are tempered by modest declines in net income and margins, gross margin pressure driven by mix and a low-margin track sale, and near-term demand headwinds tied to affordability and regional resale inventory. Management is maintaining guidance and emphasizing disciplined underwriting, capital flexibility, and operational execution, which supports confidence in navigating the current environment.Company Guidance
Revenue Growth and Volume
Q1 revenues of $273 million, up 9% year-over-year from $250.4 million; 1,944 lots sold in the quarter. Management maintained fiscal 2026 revenue guidance of $1.6 billion to $1.7 billion and lot delivery guidance of 14,000 to 15,000 lots.
Improved Book Value Per Share
Book value per share increased 10% year-over-year to $35.10, reflecting strengthened equity value and capitalization.
Strong Liquidity and Conservative Capital Structure
Ended the quarter with approximately $820 million of liquidity (including $212 million unrestricted cash and $608 million undrawn revolver). Total debt $793 million, net debt to capital ratio 24.6%, and no senior note maturities in the next 12 months.
Robust Backlog and Contracted Revenue Visibility
$210 million of hard earnest money deposits securing contracts expected to generate approximately $2.2 billion of future revenue, indicating strong contracted backlog and revenue visibility.
Anchored Customer Relationship with D.R. Horton
D.R. Horton remains a strategic partner: 16% of their starts in the past 12 months were on Forestar-developed lots and 23% of their finished lot purchases were Forestar lots. 28% of owned lots are subject to a right of first offer to D.R. Horton, and management targets growing share with a goal of 1 in 3 homes on Forestar lots.
Active Investment and Disciplined Underwriting
Invested $415 million in land and land development in Q1 (≈75% development, 25% acquisition). Underwriting discipline remains: minimum 15% pretax return on average inventory and return of initial cash investment within 36 months. Company expects to invest ~ $1.4 billion in land acquisition and development in fiscal 2026, subject to market conditions.
Operational and Cost Discipline
SG&A was $36.5 million (13.4% of revenues) versus $36.0 million (14.4% of revenues) prior year; headcount decreased ~3% year-over-year. Management reports land development costs and cycle times have stabilized and operational best practices are in place to drive efficiency.
FOR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
FOR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 20, 2026 | $27.40 | $26.02 | -5.04% |
Oct 28, 2025 | $26.06 | $27.96 | +7.29% |
Jul 22, 2025 | $22.08 | $23.89 | +8.20% |
Apr 17, 2025 | $19.04 | $18.93 | -0.58% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Forestar Group Inc (FOR) report earnings?
Forestar Group Inc (FOR) is schdueled to report earning on Apr 16, 2026, Before Open (Confirmed).
What is Forestar Group Inc (FOR) earnings time?
Forestar Group Inc (FOR) earnings time is at Apr 16, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FOR EPS forecast?
FOR EPS forecast for the fiscal quarter 2026 (Q2) is 0.64.