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Dec 31, 2025
Forestar Q1 2026 Earnings Report
Forestar reported a 9% increase in revenue and a net income of $15.4 million in its fiscal Q1 2026.
Key Takeaways
Forestar delivered strong top-line growth in Q1 2026 with revenues rising to $273 million, although net income declined slightly due to higher costs. The company maintained robust liquidity and a disciplined investment strategy.
Revenue rose to $273 million, up from $250.4 million in Q1 2025
Net income declined 7% YoY to $15.4 million
Sold 1,944 lots during the quarter, down from 2,333 lots YoY
Maintained strong liquidity with $211.7 million in cash and $607.6 million in borrowing capacity
Revenue by Segment
Forward Guidance
Forestar reaffirmed its fiscal 2026 guidance, expecting to deliver 14,000 to 15,000 lots and generate between $1.6B and $1.7B in revenue.
Positive Outlook
- Expecting 14,000–15,000 lot deliveries in fiscal 2026
- Revenue guidance set between $1.6B and $1.7B
- Strong balance sheet and $819.3M in liquidity
- Strategic alignment with D.R. Horton provides sales stability
- Continued focus on maximizing returns per project
Challenges Ahead
- Affordability constraints remain a market headwind
- Cautious consumer sentiment slowing new home sales
- Lots sold decreased 17% YoY
- Operating income and net income declined YoY
- Rising cost pressures affecting margins
Historical Earnings Impact
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Avg. Return Before/After Earnings
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