Forestar reported third fiscal quarter results for the period ended June 30, 2026, with revenue of $407.0 million and net income attributable to the company of $35.9 million, or $0.70 per diluted share. Pre-tax income rose to $48.7 million and consolidated revenues increased 4% year-over-year. The company ended the quarter with $1.1 billion of total liquidity and a lot position of 91,700 lots.

Financial Highlights

  • Revenue: $407.0 million for the three months ended June 30, 2026 (up 4% vs. prior year quarter).
  • Pre-tax income: $48.7 million for the quarter; income before income taxes reported as $48.7 million.
  • Net income attributable to Forestar: $35.9 million, or $0.70 per diluted share, for the quarter (compared to $32.9 million, $0.65 per diluted share, prior year).
  • Nine months ended June 30, 2026 — revenue: $1,054.3 million; net income attributable to Forestar: $83.5 million, or $1.63 per diluted share.
  • Balance sheet: cash and cash equivalents $394.9 million; total liquidity $1.1 billion; debt $793.8 million; net debt to total capital ratio 17.7%.

Business Highlights

  • Lots sold: 3,659 lots in Q3 (up 1% vs. prior year quarter); 8,541 lots for the nine months (down 9% vs. prior year nine months).
  • Lot channel mix: Q3 included 289 lots sold to customers other than D.R. Horton versus 530 in prior year quarter; prior-year included lots sold to a lot banker expected to resell to D.R. Horton.
  • Lot position: owned and controlled 91,700 lots at June 30, 2026 (62,200 owned; 29,500 controlled through contracts).
  • Contracted future revenue: 23,500 owned lots under contract representing approximately $2.3 billion of future revenue; an additional 19,200 owned lots subject to right of first offer to D.R. Horton.
  • Operational development: owned lots fully developed totaled 9,600 at quarter end; Forestar operates in 65 markets across 24 states and delivered more than 13,400 lots in the trailing twelve months ended June 30, 2026.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.