Forestar Group Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2023
July 20, 2023 at 06:30 am EDT
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Forestar Group Inc. reported earnings results for the third quarter and nine months ended June 30, 2023. For the third quarter, the company reported sales was USD 368.9 million compared to USD 308.5 million a year ago. Net income was USD 46.8 million compared to USD 39.7 million a year ago. Basic earnings per share from continuing operations was USD 0.94 compared to USD 0.8 a year ago. Diluted earnings per share from continuing operations was USD 0.93 compared to USD 0.8 a year ago.
For the nine months, sales was USD 887.1 million compared to USD 1,137.7 million a year ago. Net income was USD 94.5 million compared to USD 128 million a year ago. Basic earnings per share from continuing operations was USD 1.89 compared to USD 2.57 a year ago. Diluted earnings per share from continuing operations was USD 1.89 compared to USD 2.57 a year ago.
Forestar Group Inc. is a residential lot development company. The Company is focused primarily on making investments in land acquisition and development to sell finished single-family residential lots to homebuilders. The Company operates through its real estate segment. The real estate segment primarily acquires land and installs infrastructure for single-family residential communities, and its revenues generally come from sales of residential single-family finished lots to local, regional and national homebuilders. Its real estate segment conducts a range of project planning and management activities related to the entitlement, acquisition, community development and sale of residential lots. The Company has operations in over 52 markets and approximately 20 states and its lot position consisted of 90,100 residential lots, of which approximately 61,800 were owned and 28,300 were controlled through purchase contracts.
FORESTAR GROUP INC. 
