Forestar Q1 net income up 84% to $38.2M, revenue up 41% to $305.9M

Forestar Group Inc.

2024-Q1 EPS reported $0.76 revenue$305,900,000

Net income $38.2M ($0.76 diluted EPS) vs $20.8M ($0.42) YoY; pre-tax income up 84% to $51.2M.
Pre-tax profit margin improved 380 bps to 16.7%; revenues rose to $305.9M on 3,150 lots sold (+39% YoY).
Owned and controlled 82,400 lots; net debt to total capital 14.9%; book value $28.21 per share.
Fiscal 2024 outlook: 14,500–15,500 lots delivered, generating $1.4B–$1.5B in revenue.
Return on equity 14.1% trailing twelve months; total liquidity $844.6M including $458.9M cash.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Forestar Group Inc. reported first fiscal quarter ended December 31, 2023 results: revenue $305.9 million, net income $38.2 million, EPS $0.76 per diluted share.

Period: first fiscal quarter ended December 31, 2023
Revenue: $305.9 million
Net income: $38.2 million
EPS: $0.76 per diluted share
Result: reported results

Exact text from the filing

or $0.76 per diluted share • Pre-tax income increased 84% to $51.2 million • Pre-tax profit margin improved 380 basis points to 16.7% • Consolidated revenues increased 41% to $305.9 million • Residential lots sold increased 39% to 3,150 lots • Owned and controlled 82,400 lots • Return on equity of 14.1% for the trailing twelve months ended December 31, 2023 • Book

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Source: SEC EDGAR

accession 0001406587-24-000006

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