Forestar Q2 net income up 68% to $47.8M; raises FY22 pre-tax margin guidance to 14.0%-14.5%

Forestar Group Inc.

2022-Q2 EPS reported $1.77 revenue$829,200,000

EPS of $0.96 per diluted share vs. $0.59 a year ago; revenues up 47% to $421.6M.
Lots sold rose 61% to 5,788, including 787 deferred lots sold to build-for-rent operators.
Pre-tax profit margin improved 190 bps to 15.0%; ROE improved 490 bps to 14.5%.
FY22 lot sales guidance reaffirmed at 19,500-20,000; revenue forecast ~$1.7B.
Owned and controlled lots up 14% to 96,500; liquidity of $583.2M including $233.7M cash.

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