Key Points – Revenue and profit rose in Forestar’s fiscal third quarter, with revenue up 4% to $407 million and net income up 9% to $35.9 million.
Pre-tax income and margins also improved, even as the company said affordability and cautious consumer sentiment are slowing new home sales. – The company’s backlog remains strong, with 23,500 owned lots under contract expected to generate about $2.3 billion in future revenue
Forestar also maintains an important relationship with D.R. Horton, while still selling to other builders. – Forestar kept its fiscal 2026 guidance unchanged, projecting 14,000 to 14,500 lot deliveries and $1.6 billion to $1.7 billion in revenue. Management highlighted a strong balance sheet with about $1.1 billion in liquidity and said the company has room to keep investing in land and development.
Forestar Group (NYSE:FOR) reported higher fiscal third-quarter revenue and profit, while management said affordability pressures and cautious consumer sentiment continue to weigh on new home sales activity. The residential lot developer said revenue for the quarter rose 4% year over year to $407 million, driven by 3,659 lots sold. Net income attributable to Forestar increased 9% to $35.9 million, or $0.70 per diluted share, compared with $32.9 million, or $0.65 per diluted share, in the prior-year quarter.