Forestar Group Inc Stock Price, News & Analysis

D.R. Horton, Inc. (NYSE:DHI) reported fiscal 2023 second quarter results with net income of $942.2 million, or $2.73 per diluted share, reflecting a 32% decline year-over-year. Consolidated revenues reached $8.0 billion, with home sales revenues at $7.4 billion from 19,664 homes closed. Net sales orders fell 5% to 23,142 homes, valued at $8.6 billion. The company’s pre-tax profit margin decreased to 15.6%, down from 23.5% a year ago, primarily due to a 730 basis point drop in home sales gross margin. Noteworthy, the cancellation rate rose to 18% from 16%. D.R. Horton maintains strong liquidity with $4.4 billion available, and declared a quarterly dividend of $0.25 per share. The company anticipates revenues between $31.5 billion and $33.0 billion for fiscal 2023.

Forestar Group Inc. (NYSE: FOR) will announce its financial results for Q2 ending March 31, 2023, on April 20, 2023, before market-opening. A conference call is scheduled for the same day at 5:00 p.m. ET, which will also be available via webcast. Forestar operates in 52 markets across 20 states, having delivered over 15,400 residential lots in the last year. Notably, the company is a majority-owned subsidiary of D.R. Horton, Inc. (NYSE: DHI), the largest homebuilder by volume in the U.S.

D.R. Horton, Inc. (NYSE:DHI), the largest homebuilder in the U.S., will announce its financial results for Q2 ending March 31, 2023, on April 20, 2023, before the market opens. A conference call is scheduled for 8:30 a.m. ET that day, with a dial-in number of 888-506-0062. Participants are encouraged to call in five minutes early. A replay will be available after 12:30 p.m. ET on the same day until April 27, 2023. D.R. Horton closed 82,930 homes in the last year and operates in 109 markets across 33 states.

D.R. Horton, Inc. (NYSE:DHI), America’s Builder, announced a presentation to the investment community via webcast at the Barclays Industrial Select Conference on February 22, 2023, at 2:25 p.m. Eastern Time. The presentation will be accessible through the Investor Relations page of the D.R. Horton website. Listeners are advised to join at least five minutes early. A replay will be available within 24 hours and can be accessed until April 30, 2023. Founded in 1978, D.R. Horton has been the largest homebuilder in the U.S. since 2002, operating across 109 markets in 33 states. In the last year, the company closed 82,930 homes, showcasing its diverse product portfolio.

Forestar Group reported its fiscal 2023 first quarter results, showing net income down 49% to $20.8 million or $0.42 per diluted share, compared to $40.5 million in Q1 2022. Consolidated revenues fell 47% to $216.7 million, driven by a 50% decrease in lots sold, totaling 2,263. Despite these declines, the company reported an improved return on equity at 13.9%, up 70 basis points. Liquidity remains strong at $582.6 million. While the housing market is challenged, the company aims to enhance operational efficiencies and consolidate market share.

D.R. Horton reported fiscal 2023 Q1 results with net income of $958.7 million or $2.76 per diluted share, a 16% decline year-over-year. Consolidated revenues rose 3% to $7.3 billion, but home sales revenues grew just 1% to $6.7 billion, with 17,340 homes closed, a 6% decrease. Net sales orders plummeted 38% to 13,382 homes, and cancellations increased to 27%. The backlog of homes under contract fell 46% to 15,759 homes. D.R. Horton has strong liquidity of $4 billion and a low debt-to-capital ratio of 12.8%.

D.R. Horton, Inc. (NYSE:DHI) has announced the acquisition of Riggins Custom Homes, a leading builder in Northwest Arkansas. The deal, valued at approximately $107 million in cash, includes 3,000 lots, 170 homes in inventory, and 173 homes in sales order backlog. Riggins generated $48 million in revenue over the past year, closing 153 homes with an average sales price of $313,600. This acquisition aims to enhance D.R. Horton's market position in the region while leveraging Riggins' local expertise.

Forestar Group Inc. (NYSE: FOR) will announce its financial results for the first quarter ending December 31, 2022, on January 24, 2023, before market opening. A conference call is scheduled for 5:00 p.m. ET the same day. Forestar operates in 53 markets across 21 states and delivered over 17,600 residential lots in its fiscal year ending September 30, 2022. The company is a majority-owned subsidiary of D.R. Horton, Inc. (NYSE: DHI), the largest homebuilder in the U.S. since 2002.

D.R. Horton, Inc. (NYSE:DHI), the largest homebuilder in the U.S., will report its financial results for the first quarter ending December 31, 2022 on January 24, 2023, prior to market open. A conference call will be held at 8:30 a.m. ET, accessible via dial-in and webcast. Participants can access the replay after 12:30 p.m. ET on the same day until January 31, 2023. D.R. Horton operates across 106 markets in 33 states and closed 83,518 homes in the last fiscal year.