Earnings Releases·Oct 29, 2026, 1:47 PM ET

Forestar Group Inc. — Fiscal 2026 Earnings Summary

Fiscal 2026 consolidated revenues decreased 2% to $1.6 billion and net income declined 15% to $142.6 million ($2.78 per diluted share), while Q4 revenues fell 13% to $580.8 million and net income dropped 32% to $59.2 million ($1.15 per diluted share).
The company provided fiscal 2027 guidance projecting 12,000 to 13,000 lot deliveries and revenues between $1.4 billion and $1.5 billion, citing ongoing affordability constraints and rising mortgage rates as key demand headwinds.
Balance sheet strength improved with total liquidity reaching $1.3 billion and net debt to total capital ratio at 6.7%, supported by unrestricted cash of $657.0 million and a reduction in total debt to $794.2 million.
Management emphasized disciplined capital allocation and a strategic relationship with majority owner D.R. Horton to maximize returns, noting that 37% of owned lots are under contract representing approximately $2.2 billion in future revenue.