The in-line earnings and maintained revenue guidance provide stability, but the reduced lot volume outlook signals ongoing demand pressure. Monitor whether the company can achieve its revenue target through higher pricing or mix shift in the second half. The strong liquidity position supports resilience but not growth acceleration.
Price Chart
Executive Summary
Forestar reported Q2 FY2026 EPS of $0.63, matching consensus, on revenue of $374.3 million, a 7% YoY increase and slight beat versus estimates. However, the company lowered its full-year lot delivery guidance from 14,000-15,000 to 14,000-14,500 lots, while maintaining its $1.6B-$1.7B revenue outlook.
Key Financial Metrics
Key Facts
- Q2 EPS of $0.63 was in line with analyst consensus ($0.63).
- Revenue of $374.3 million beat consensus by 0.2% ($373.7M) and increased 7% YoY.
- Lot sales decreased 14% YoY to 2,938, with sales to non-D.R. Horton customers down 46.4%.
- Company lowered full-year lot delivery guidance to 14,000-14,500 (from 14,000-15,000) due to market conditions.
- Maintained full-year revenue guidance of $1.6B-$1.7B, citing pricing and project timing.
- Liquidity increased to $1.0 billion, and net debt to total capital improved to 19.2%.
Financial Impact
Revenue increased 7% YoY to $374.3M, EPS held steady at $0.63. Full-year lot delivery guidance reduced by 500 units.
Risk Factors
- Reduced lot delivery guidance indicates persistent affordability constraints and cautious consumer sentiment.
- Dependence on D.R. Horton (majority owner) for sales creates customer concentration risk.
- Residential housing market downturn could further impact lot demand and pricing.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-026197 |
| Document: for-20260421.htm | 0001628280-26-026197 |
| Document: 0001628280-26-026197-index-headers.html | 0001628280-26-026197 |
| Document: 0001628280-26-026197-index.html | 0001628280-26-026197 |
| Document: 0001628280-26-026197.txt | 0001628280-26-026197 |
| 8-K Data (Synthetic) | 0001628280-26-026197 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 21, 2026 13w ago | 8-K | $27.02 $25.41 | ▲ +5.96% | ▲ +9.93% | $25.98 (+3.85%) |
Jun 26, 2026 17w ago | Institutional Cluster | $31.94 $26.38 | ▼ −17.41% | ▼ −21.89% | $25.98 (−18.66%) |
Apr 21, 2026 26w ago | 8-K | $26.74 $30.92 | ▲ +15.63% | ▲ +8.73% | $25.98 (−2.84%) |
US Market Status
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