earnings
confidence high
sentiment positive
materiality 0.80
Forestar Q1 net income up 84% to $40.5M; raises FY2022 guidance on lots, revenue, margin
Forestar Group Inc.
2022-Q1 EPS reported
$0.81
revenue$407,600,000
- Net income attributable to Forestar $40.5M ($0.81 diluted EPS) vs $22.0M ($0.46) a year ago; pre-tax income $53.5M.
- Revenue $407.6M (+33% YoY) on 4,516 lots sold (+27%); ROE 13.2% (up 550 bps).
- Raises FY2022 guidance: lots sold 19,500-20,000 (prior 19,000-19,500), revenue ~$1.7B, pre-tax margin 13.5%-14.0%.
- Lots sold to non-D.R. Horton customers up 182% to 502 lots; total owned+controlled lots 103,300 (+33%).