Forestar Q2 fiscal 2023 net income down 44% to $26.9M; revenue down 28% to $301.5M

Forestar Group Inc.

2023-Q2 EPS reported $0.95 revenue$518,200,000

Net income $26.9M ($0.54 diluted EPS) vs $47.8M ($0.96); pre-tax profit margin 11.9%.
Revenue $301.5M on 2,979 lots sold, down 28% and 49% YoY respectively; $19.4M impairment charges.
Liquidity $654.1M including $286.7M cash; net debt-to-capital ratio improved 470 bps to 25.2%.
Book value per share $25.01, up 12% YoY; owned 57,800 lots with 9,100 fully developed.
No annual guidance due to market uncertainty; CEO cites transitioning housing market.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Forestar Group Inc. reported second quarter ended March 31, 2023 results: revenue $301.5 million, net income $26.9 million or $0.54 per diluted share, EPS $0.54 per diluted share.

Period: second quarter ended March 31, 2023
Revenue: $301.5 million
Net income: $26.9 million or $0.54 per diluted share
EPS: $0.54 per diluted share
Result: reported results

Exact text from the filing

attributable to Forestar totaled $26.9 million or $0.54 per diluted share • Pre-tax income of $35.9 million, with a pre-tax profit margin of 11.9% • Consolidated revenues of $301.5 million on 2,979 lots sold • Owned and controlled 76,400 lots • Return on equity of 11.7% for the trailing twelve months ended March 31, 2023 • Book value per share increased 12% to

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Source: SEC EDGAR

accession 0001406587-23-000083

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