Forestar Group Inc. - FOR STOCK NEWS

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.

Forestar Group Inc. reported strong financial results for the fourth quarter and fiscal year ended September 30, 2022. Net income for Q4 rose 15% to $50.8 million ($1.02/share), while fiscal year net income increased 62% to $178.8 million ($3.59/share). Total revenues for FY 2022 reached $1.5 billion, reflecting a 15% year-over-year growth. Despite a 20% drop in lots sold during Q4, total lots sold for the year increased by 11%. Forestar maintains a robust liquidity position with over $620 million available, positioning it well amidst challenging market conditions.

D.R. Horton reported its Fiscal 2022 fourth quarter results with a net income per diluted share of $4.67, up 26% year-over-year, contributing to a total net income of $1.6 billion. Consolidated revenues reached $9.6 billion, a 19% increase from the prior year. For the full year, net income per diluted share increased 45% to $16.51, and consolidated revenues were $33.5 billion, up 21%. However, net sales orders fell by 15% in Q4, indicating a potential shift in market demand due to rising mortgage rates.

Forestar Group Inc. (NYSE: FOR) announces the promotion of Mark Walker to Chief Operating Officer effective October 1, 2022. Mr. Walker, who joined the company in 2019, has overseen significant operations, accounting for 52% of lots sold in the last twelve months. His previous experience includes a Vice President role at D.R. Horton (NYSE: DHI). This promotion aims to strengthen leadership and enhance market share.

Forestar, based in Arlington, Texas, operates in 52 markets and delivered over 18,500 residential lots in the year ending June 30, 2022.

Forestar Group Inc. (NYSE: FOR) will release its financial results for the fourth quarter and fiscal year ended September 30, 2022, on November 9, 2022, after market close. A conference call will be held at 5:00 p.m. ET that day, with a dial-in number of 888-506-0062 and access code 446616. The call will also be webcast via the Company's investor site. Forestar operates in 52 markets across 22 states and delivered over 18,500 residential lots in the twelve months ending June 30, 2022. The company is a majority-owned subsidiary of D.R. Horton, Inc. (NYSE: DHI).

D.R. Horton, Inc. (NYSE:DHI), America's largest homebuilder, will announce its financial results for Q4 and fiscal year ended September 30, 2022 on November 9, 2022 before the market opens. A conference call will follow at 8:30 a.m. ET, accessible via dial-in or webcast. The company operates in 105 markets across 33 states and closed 81,469 homes in the year ending June 30, 2022. D.R. Horton provides mortgage financing and multiple home brands, with prices ranging from $200,000 to over $1,000,000.

D.R. Horton, Inc. (NYSE:DHI) announced the passing of longtime Board member Michael W. Hewatt on August 25, 2022. Mr. Hewatt joined the Board in 2005 and significantly contributed to the company’s growth, efficiency, and shareholder returns during his tenure. His leadership as the Chair of the Audit Committee spanned over a decade. The company expresses its gratitude for his service and extends condolences to his family. D.R. Horton remains a leading homebuilder in the U.S., having closed 81,469 homes in the year ending June 30, 2022.

D.R. Horton reported strong fiscal 2022 Q3 results, with net income per diluted share rising 53% to $4.67 and total net income increasing 48% to $1.6 billion. Consolidated revenues grew 21% to $8.8 billion, while pre-tax income also rose 54% to $2.2 billion, resulting in a pre-tax profit margin improvement to 24.8%. Though home sales revenues increased 18% to $8.3 billion, homes closed fell by 1% to 21,308. The company updated its full-year guidance, forecasting revenues of $33.8 billion to $34.6 billion.

Forestar Group reported a strong third quarter for fiscal 2022, with net income rising 151% to $39.7 million, or $0.80 per diluted share. Pre-tax income also increased 150% to $52.7 million, and the pre-tax profit margin improved by 1,040 basis points to 17.1%. Revenue totaled $308.5 million, down 1% year-over-year. Despite a 10% decline in lots sold this quarter, notable growth in non-D.R. Horton sales (up 213%) was recorded. Forestar maintains a strong liquidity position with $500.3 million available, though the company has adjusted its full-year guidance due to market conditions.