---
schema_version: "secwatch.filing_event.v1"
accession: "0001406587-23-000083"
form_type: "8-K"
ticker: "FOR"
cik: "0001406587"
company_name: "Forestar Group Inc."
filed_at: "2023-04-20T23:59:59+00:00"
generated_at: "2026-06-16T22:25:38.981276+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001406587-23-000083
- form_type: 8-K
- ticker: FOR
- cik: 0001406587
- company_name: Forestar Group Inc.
- filed_at: 2023-04-20T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1406587/000140658723000083/0001406587-23-000083-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1406587/000140658723000083/for-20230420.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001406587-23-000083
- JSON: https://secwatch.observer/filing/0001406587-23-000083.json
- Plain text: https://secwatch.observer/filing/0001406587-23-000083.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1406587/000140658723000083/0001406587-23-000083-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.