Forestar Q4 net income up 43% to $72.4M, EPS $1.44; FY2024 guidance 14,500-15,500 lots

Forestar Group Inc.

2023-FY EPS reported $3.33 revenue$1,436,900,000

Q4 net income $72.4M ($1.44 diluted EPS) vs $50.8M ($1.02) YoY; revenue +44% to $549.7M on 4,986 lots sold.
FY2023 net income $166.9M ($3.33 EPS) down 7% from $178.8M; revenue $1.4B, lots sold 14,040 (down 21%).
FY2024 guidance: 14,500-15,500 lots sold, revenue $1.4B-$1.5B; double-digit pre-tax profit margin expected.
Balance sheet: $616M cash, $998M total liquidity; net debt to total capital 5.5%; owned 52,400 lots, controlled 79,200.
Return on equity 13.2%; book value per share $27.43, up 14% year-over-year.

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 fiscal year ended September 30, 2023 results: revenue $1.4 billion, net income $166.9 million, EPS $3.33 per diluted share.

Period: fiscal year ended September 30, 2023
Revenue: $1.4 billion
Net income: $166.9 million
EPS: $3.33 per diluted share
Result: reported results

Exact text from the filing

comparisons are year-over-year • Net income of $166.9 million or $3.33 per diluted share • Pre-tax income of $221.6 million, with a pre-tax profit margin of 15.4% • Revenues of $1.4 billion on 14,040 lots sold • Owned and controlled 79,200 lots at September 30, 2023 • Return on equity of 13.2% • Book value per share increased 14% to $27.43 Daniel Bartok, CEO, said,

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Forestar Group Inc. reported fourth quarter and fiscal year ended September 30, 2023 results: revenue $549.7 million, net income $72.4 million, EPS $1.44 per diluted share.

Period: fourth quarter and fiscal year ended September 30, 2023
Revenue: $549.7 million
Net income: $72.4 million
EPS: $1.44 per diluted share
Result: reported results

Exact text from the filing

increased 43% to $72.4 million or $1.44 per diluted share • Pre-tax income increased 44% to $95.4 million, with a pre-tax profit margin of 17.4% • Revenues increased 44% to $549.7 million on 4,986 lots sold Fiscal 2023 Highlights All comparisons are year-over-year • Net income of $166.9 million or $3.33 per diluted share • Pre-tax income of $221.6 million, with a

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Source: SEC EDGAR

accession 0001406587-23-000114

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