Welcome to our dedicated page for Forestar Group news (Ticker: FOR), a resource for investors and traders seeking the latest updates and insights on Forestar Group stock.
Forestar Group Inc. (NYSE: FOR) is a residential lot development company that reports detailed operating and financial results through regular news releases and SEC filings. As a national residential lot developer with operations in 64 markets across 23 states and a base in Arlington, Texas, Forestar provides updates on its residential lot sales, revenues, pre-tax income, lot position and contracted future revenue.
News about Forestar often centers on quarterly and annual earnings, including consolidated revenues, net income and pre-tax profit margins, along with the number of residential lots sold through development and lot banking projects. The company also reports on its owned and controlled lot position, the share of lots under contract to be sold, the number of fully developed lots, and lots subject to a right of first offer to D.R. Horton. These disclosures give insight into Forestar’s development pipeline and future revenue potential.
Investors and analysts following FOR news can also see updates on capital structure, leverage and liquidity, such as unrestricted cash balances, available borrowing capacity on the senior unsecured revolving credit facility, total debt and net debt to total capital. Forestar’s releases frequently discuss its return on equity, book value per share and multi-year trends in revenues and earnings per share.
Because Forestar is a majority-owned subsidiary of D.R. Horton, its results are also discussed within D.R. Horton’s broader earnings communications. Those materials describe Forestar’s contribution as a publicly traded residential lot development company and provide additional context on how Forestar’s lot deliveries support homebuilding operations. Readers interested in FOR news can use this page to monitor earnings announcements, operational updates and other material company communications over time.
Forestar Group reported a strong second quarter for fiscal 2021, with net income soaring 196% to $28.4 million or $0.59 per diluted share.
Revenue jumped 80% to $287.1 million, driven by an 84% increase in residential lots sold, totaling 3,588 lots compared to 1,951 lots year-over-year. For the first half of fiscal 2021, net income rose 91% to $50.4 million, with revenues up 46% to $594.2 million.
The company's lot position increased 62% to 84,500 lots, strengthening its market position and growth outlook.
Forestar Group Inc. (NYSE: FOR) announced a pricing of $400 million in 3.850% senior unsecured notes due 2026. The offering is intended for qualified institutional buyers and will close on April 21, 2021. Proceeds from the notes will be used to redeem existing 8.000% Senior Notes due 2024, with any excess funding general corporate purposes, including land acquisition and development. The notes rank equally with existing senior unsecured debt, maturing on May 15, 2026.
Forestar Group Inc. (NYSE: FOR) announced its financial results for Q2 ending March 31, 2021, will be released on April 20, 2021, post-market close. A conference call will follow at 5:00 p.m. ET, accessible via dial-in and webcast. The company, a leader in residential lot development, operates in 51 markets across 21 states, delivering 11,518 lots in 2020. Forestar is a subsidiary of D.R. Horton, Inc., the largest U.S. homebuilder by volume.
Forestar Group reported a strong first quarter of fiscal 2021, with net income rising 30% to $22.0 million or $0.46 per diluted share, compared to $16.9 million in the same year-ago period. Revenues increased 24% to $307.1 million, driven by a 47% increase in residential lots sold, totaling 3,567 lots. The company’s lot position grew 74% year-over-year to 77,500 lots. Forestar maintains strong liquidity with $576.9 million available and low debt levels, poised for continued growth amid favorable housing market conditions.
Forestar Group Inc. (NYSE: FOR) will release its financial results for the first quarter ending December 31, 2020, on January 21, 2021, after market close. A conference call is scheduled for the same day at 5:00 p.m. ET, with a dial-in number of 877-407-9205. Webcast details will be available on the company's investor relations site. A replay of the call will be accessible after 7:00 p.m. ET on the same day and will remain available until January 28, 2021. Forestar operates in 49 markets across 21 states and is a majority-owned subsidiary of D.R. Horton, the largest U.S. homebuilder.
Forestar Group reported a significant boost in its fourth-quarter and annual financial results for fiscal 2020. Net income surged 91% to $24.2 million, equating to $0.50 per diluted share, with revenues hitting $347.6 million, a 47% increase. Residential lots sold doubled to 3,977. For the fiscal year, net income rose 84% to $60.8 million on revenues of $931.8 million, reflecting a 118% year-over-year growth. The company ended the fiscal year with $394.3 million in cash and a robust liquidity position of $738.3 million, while also maintaining a low net debt to total capital ratio of 22.1%.
Forestar Group Inc. (NYSE: FOR) will release its fourth quarter and fiscal year financial results for the period ending September 30, 2020, on November 5, 2020, after market close. A conference call is scheduled for the same day at 5:00 p.m. ET, with a dial-in number of 877-407-9205. The call will also be available via webcast. A replay will be accessible after 7:00 p.m. ET on the same day and will remain available until November 12, 2020.
Forestar operates in 51 markets across 22 states and is a subsidiary of D.R. Horton, the largest U.S. homebuilder.