Profile
Sector:
Real EstateIndustry:
DevelopmentCountry:
United StatesIPO:
13 December 2007Website:
http://www.forestar.comNext earnings report:
23 January 2025Last dividends:
N/ANext dividends:
N/APrice
after hours | Fri, 01 Nov 2024 20:02:29 GMTDividend
Analysts recommendations
Institutional Ownership
FOR Latest News
Forestar Group Inc. (NYSE:FOR ) Q4 2024 Earnings Conference Call October 29, 2024 11:00 AM ET Company Participants Katie Smith - Director of Finance and IR Andy Oxley - President and CEO Jim Allen - CFO Mark Walker - COO Conference Call Participants Carl Reichardt - BTIG Asher Sohnen - Citigroup Trevor Allinson - Wolfe Research Alex Barron - Housing Research Center Operator Good morning, and welcome to Forestar's Fourth Quarter and Fiscal 2024 Earnings Conference Call. At this time all participants are in a listen-on mod, and we will open for questions following the presentation.
ARLINGTON, Texas--(BUSINESS WIRE)---- $FOR--Forestar Group Inc. (“Forestar”) (NYSE: FOR), a leading national residential lot developer, today reported financial results for its fourth quarter and fiscal year ended September 30, 2024. Fiscal 2024 Fourth Quarter Highlights All comparisons are year-over-year Net income increased 13% to $81.6 million or $1.60 per diluted share Pre-tax income increased 14% to $108.5 million, with a pre-tax profit margin of 19.7% Revenues of $551.4 million on 5,374 lots sold.
Interest rate cut and healthy demand for certain real estate categories poise Real Estate Development industry players like HHH, GRBK and FOR well for growth.
Forestar Group is well-positioned to benefit from persistent residential housing shortage and a favorable interest rate environment, driving demand for residential lots and land sales. The company aims to double its market share to 5% by leveraging its national footprint and strategic relationship with D.R. Horton, but also with other builders too. Forestar's disciplined focus on return on equity and selective project underwriting enhances profitability and minimizes risk, ensuring high-quality developments.
Forestar Group (FOR) came out with quarterly earnings of $0.76 per share, missing the Zacks Consensus Estimate of $0.89 per share. This compares to earnings of $0.93 per share a year ago.
Forestar missed top- and bottom-line estimates in the quarter. The company is building its inventory of lots ahead of an eventual recovery in the homebuilding market.
Despite a high interest rate environment, recovery in demand for certain real estate categories and constrained supply poise Real Estate Development industry players like HHH, GRBK and FOR well for growth.
The real estate lot developer unveiled its latest quarterly results, surpassing the average prediction for net income and exceeding expectations for revenue.
Forestar Group (FOR) reported earnings of $0.89 per share for the quarter, surpassing the Zacks Consensus Estimate of $0.84 per share. This is an improvement from earnings of $0.54 per share in the same quarter last year.
Forestar Group (FOR) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
- 1(current)
What type of business is Forestar?
Forestar Group Inc. operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas. Forestar Group Inc. operates as a subsidiary of D.R. Horton, Inc.
What sector is Forestar in?
Forestar is in the Real Estate sector
What industry is Forestar in?
Forestar is in the Development industry
What country is Forestar from?
Forestar is headquartered in United States
When did Forestar go public?
Forestar initial public offering (IPO) was on 13 December 2007
What is Forestar website?
https://www.forestar.com
Is Forestar in the S&P 500?
No, Forestar is not included in the S&P 500 index
Is Forestar in the NASDAQ 100?
No, Forestar is not included in the NASDAQ 100 index
Is Forestar in the Dow Jones?
No, Forestar is not included in the Dow Jones index
When was Forestar the previous earnings report?
No data
When does Forestar earnings report?
The next expected earnings date for Forestar is 23 January 2025