Forestar Group shares tumble over 7% on earnings and income miss


ARLINGTON, Texas – Forestar Group Inc . (NYSE:FOR), a number one nationwide residential lot developer, noticed its shares plunge over 7% on Tuesday.

This was after reporting first-quarter fiscal 2025 outcomes that fell nicely wanting analyst expectations and offered weak steering.

The corporate reported earnings per share of $0.32 for the quarter ended December 31, 2024, lacking the analyst consensus estimate of $0.70 by $0.38.

Income got here in at $250.4 million, considerably beneath the $325.4 million analysts have been anticipating and down 18.1% YoY from $305.9 million.

Forestar offered 2,333 tons through the quarter, a 26% lower from 3,150 tons in the identical interval final yr. The corporate’s internet revenue dropped 57% to $16.5 million in comparison with $38.2 million in Q1 fiscal 2024.

Regardless of the weak outcomes, Forestar maintained its fiscal 2025 outlook, anticipating to ship between 16,000 and 16,500 tons and generate income of $1.6 billion to $1.65 billion.

The corporate additionally plans to speculate roughly $2.0 billion in land acquisition and improvement this fiscal yr.

“Within the first quarter, the Forestar crew continued the growth of our working platform by making vital investments in land acquisition and improvement, including key personnel in our native markets and getting into new markets,” mentioned Donald J. Tomnitz, Chairman of the Board.

The corporate ended the quarter with $132.0 million in unrestricted money and complete liquidity of $644.5 million. Forestar’s internet debt to complete capital ratio stood at 29.5% as of December 31, 2024.

This text was generated with the assist of AI and reviewed by an editor. For extra data see our T&C.

admin

Share
Published by
admin

Recent Posts

Tariffs to trigger ‘short-term bumps,’ Trump financial adviser tells Fox Enterprise

By Kanishka Singh WASHINGTON (Reuters) - U.S. President Donald Trump's Council of Financial Advisers Chair…

1 hour ago

New Look fashions £30m money name to fund digital progress plan

The homeowners of New Look, the excessive avenue vogue chain, are ploughing £30m of recent…

3 hours ago

Elon Musk calls studies he’ll step again from authorities position ‘pretend information’

Elon Musk has referred to as studies that he'll go away his authorities position within…

3 hours ago

Donald Trump’s tariffs may have penalties for globalisation, the US financial system and geopolitics

For many years, commerce and commerce coverage has been an financial and political backwater -…

3 hours ago

Here is each nation dealing with reciprocal tariffs introduced by Trump on ‘Liberation Day’

President Trump on Wednesday laid out his long-awaited plans to slap reciprocal tariffs on nations…

3 hours ago

Donald Trump publicizes sweeping world commerce tariffs – together with 10% on UK imports

Donald Trump has introduced a ten% commerce tariff on all imports from the UK -…

3 hours ago