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. (symbol: FOR) is a leading residential lot development company with substantial operations across the United States. Headquartered in Arlington, Texas, Forestar's strategic focus is on the acquisition and development of entitled real estate into finished residential lots, primarily catering to homebuilders. With a strong emphasis on asset turns and operational efficiency, the company ensures a lower-risk business model by investing in short-duration, phased development projects.
Forestar owns and operates approximately 281,000 acres of real estate across nine states and twelve markets. Additionally, the company holds 622,000 net acres of oil and gas mineral interests, 231,000 acres of forested land, and leases over 224,000 acres for recreational purposes. These diverse holdings underscore Forestar's expansive portfolio and strategic market presence.
The core business of Forestar lies in the development of single-family residential communities, which form the backbone of its real estate projects. The company is renowned for its ability to deliver high-quality, finished residential lots to homebuilders, thereby facilitating the construction of thriving neighborhoods across the nation.
In recent achievements, Forestar has been recognized for its agile approach to market demands and its ability to generate consistent revenue streams through its well-managed real estate assets. The company's partnership with D.R. Horton, Inc., a major U.S. homebuilder, further strengthens its market position and enhances its development capabilities.
Forestar Group Inc.'s financial health is robust, supported by a strategic focus on high-demand markets and efficient project execution. The company continues to make significant strides in the real estate sector, contributing to the growth and development of residential communities nationwide. Stay updated with the latest news and developments to track Forestar's ongoing contributions to the real estate market.
Forestar Group (NYSE: FOR) reported its fiscal 2025 first quarter results, with net income decreasing 57% to $16.5 million ($0.32 per diluted share) compared to $38.2 million ($0.76 per diluted share) in Q1 fiscal 2024. Revenues declined to $250.4 million from $305.9 million year-over-year.
The company sold 2,333 lots during Q1, down 26% from 3,150 lots in the same quarter last year. Their lot position stands at 106,000 lots, with 68,300 owned and 37,700 controlled through contracts. Of the owned lots, 25,200 are under contract for future sales, representing approximately $2.2 billion in future revenue.
Forestar maintains strong liquidity of $644.5 million, including $132.0 million in unrestricted cash. The company amended its credit facility, increasing commitments to $640 million and extending maturity to December 2029. For fiscal 2025, Forestar expects to deliver 16,000-16,500 lots, generating $1.6-1.65 billion in revenue.
D.R. Horton (NYSE:DHI) reported its fiscal 2025 first quarter results with net income of $844.9 million ($2.61 per diluted share), down 11% from $947.4 million in the same quarter of fiscal 2024. Consolidated revenues decreased 1% to $7.6 billion.
The company closed 19,059 homes (-1%) with home sales revenues of $7.1 billion. Net sales orders reached 17,837 homes with an order value of $6.7 billion. The company's return on equity was 19.1% and return on assets was 13.4% for the trailing twelve months.
During the quarter, DHI returned $1.2 billion to shareholders through $1.1 billion in share repurchases (6.8 million shares) and $128.5 million in dividends. The company declared a quarterly dividend of $0.40 per share. Total liquidity stood at $6.5 billion with a debt-to-capital ratio of 17.0%.
Forestar Group (NYSE: FOR) has announced it will release its first quarter fiscal 2025 financial results on January 21, 2025, before market opening. The company will host a conference call at 11:00 a.m. ET the same day. Investors can join via phone using dial-in number 888-506-0062 with access code 917712, or through the webcast available on investor.forestar.com. A replay will be accessible until January 28, 2025 via phone (877-481-4010, passcode 51730) and until April 30, 2025 via the company website.
D.R. Horton (NYSE:DHI) has announced plans to release its first quarter financial results for the period ending December 31, 2024, on Tuesday, January 21, 2025, before market opening. The company will host a conference call at 8:30 a.m. ET, with dial-in number 888-506-0062 and access code 163261. Participants should join five minutes early at 8:25 a.m. ET.
The call will be webcast on investor.drhorton.com. A replay will be available after 12:30 p.m. ET at 877-481-4010 with passcode 51717, accessible through January 28, 2025. The webcast replay will remain available on the company website until April 30, 2025.
Forestar Group reported strong financial results for Q4 and fiscal 2024. Q4 net income rose 13% to $81.6 million ($1.60 per share), while fiscal 2024 net income increased 22% to $203.4 million ($4.00 per share). Revenue grew 5% to $1.5 billion in fiscal 2024, with 15,068 lots sold. The company maintained a strong position with 95,100 owned and controlled lots, and improved return on equity to 13.8%. Book value per share increased 15% to $31.47. The company ended the year with total liquidity of $858.4 million and projects delivery of 16,000-16,500 lots generating $1.6-1.65 billion revenue in fiscal 2025.
D.R. Horton reported fiscal 2024 fourth quarter earnings with net income of $1.3 billion and earnings per diluted share of $3.92. For the full fiscal year 2024, the company achieved net income of $4.8 billion with earnings per share increasing 4% to $14.34. Consolidated revenues grew 4% to $36.8 billion, with home sales revenues up 7% to $33.9 billion on 89,690 homes closed. The company maintained strong financial metrics with a pre-tax profit margin of 17.1% and return on equity of 19.9%. Despite market challenges, D.R. Horton increased its quarterly dividend by 33% to $0.40 per share and repurchased $1.8 billion of common stock during the year.
Forestar Group Inc. (NYSE: FOR) has announced the release date for its 2024 fourth quarter and fiscal year-end earnings. The financial results will be disclosed on Tuesday, October 29, 2024, before the market opens. Following the release, the company will host a conference call at 11:00 a.m. Eastern Time to discuss the results.
Investors and analysts can participate in the call by dialing 888-506-0062 and using the access code 749922. The call will also be webcast live on Forestar's investor relations website. For those unable to join live, a replay will be available via phone and web until November 5, 2024, and January 31, 2025, respectively.
D.R. Horton (NYSE:DHI), America's Builder, has announced the release date for its 2024 fourth quarter and fiscal year-end earnings. The financial results will be disclosed on Tuesday, October 29, 2024, before the market opens. The company will host a conference call at 8:30 a.m. Eastern Time on the same day. Investors can dial in at 888-506-0062 using access code 584166. The call will also be webcast from the company's investor relations website. A replay of the call will be available after 12:30 p.m. ET, accessible via phone at 877-481-4010 (replay passcode 51206) until November 5, 2024, and through the website until January 31, 2025.
Forestar Group Inc. (NYSE: FOR) reported its fiscal 2024 third quarter results. Net income decreased 17% to $38.7 million, or $0.76 per diluted share. Revenues decreased 14% to $318.4 million. The company sold 3,255 lots, a 15% decrease from the previous year. However, for the nine months ended June 30, 2024, net income increased 29% to $121.8 million, and revenues increased 8% to $958.0 million.
Forestar's lot position increased 40% to 102,100 lots. The company's return on equity expanded 190 basis points to 13.8%. Forestar ended the quarter with $744.4 million in total liquidity and a net debt to total capital ratio of 18.7%. For fiscal 2024, Forestar now expects to deliver between 14,600 and 15,100 lots, generating $1.4 billion to $1.5 billion in revenue.
D.R. Horton, Inc. (NYSE:DHI) reported strong fiscal 2024 third quarter results, with earnings per diluted share increasing 5% to $4.10 on net income of $1.4 billion. Consolidated revenues rose 2% to $10.0 billion, while homes closed increased 5% to 24,155. The company's return on equity was 21.5% for the trailing twelve months ended June 30, 2024. D.R. Horton maintained a strong liquidity position with $5.8 billion in total liquidity. The company also declared a quarterly dividend of $0.30 per share and announced a new $4.0 billion share repurchase authorization. Despite elevated inflation and mortgage rates, D.R. Horton remains well-positioned with its affordable product offerings and flexible lot supply.
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