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Jun 30, 2021
Forestar Q3 2021 Earnings Report
Reported strong third quarter results driven by increased revenues and lot sales.
Key Takeaways
Forestar reported a strong Q3 2021 with a 76% increase in revenues to $312.9 million and a 56% increase in net income to $15.8 million, driven by a 91% increase in lots sold. The company's lot position increased by 91% to 96,600 lots.
Revenues increased 76% to $312.9 million.
Pre-tax income increased 105% to $21.1 million.
Owned and controlled lots increased 91% to 96,600 lots.
Net income attributable to Forestar increased 56% to $15.8 million.
Revenue by Segment
Forward Guidance
Forestar expects to deliver between 15,500 and 16,000 lots in fiscal 2021.
Positive Outlook
- Housing market conditions remain favorable across the country.
- Forestar is well-positioned to continue capitalizing on the significant market demand for finished lots.
- Strategic and operational plan is underpinned by low net leverage and strong liquidity.
- Engagement of people.
- Strategic relationship with D.R. Horton.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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