Forestar Group (FOR) Tops Q1 EPS by 22c, Revenues Beat

Forestar Group (NYSE: FOR) reported Q1 EPS of $0.35, $0.22 better than the analyst estimate of $0.13. Revenue for the quarter came in at $247.2 million versus the consensus estimate of $150.01 million.

Donald J. Tomnitz, Chairman of the Board, said, “Forestar is a highly differentiated, national residential lot manufacturer operating in over 50 markets across the United States. Our team delivered a solid first quarter and made significant progress toward executing on our plans for fiscal 2020. Our strategic relationship with D.R. Horton, the nation’s largest homebuilder, continues to support the rapid expansion of our operating platform and de-risks our significant growth expectations. Forestar's returns-focused business model is centered on our high turnover, lower risk lot manufacturing strategy, and we are well-positioned to consolidate market share in the under-served lot development market that lacks well-capitalized and national participants. We are excited about the opportunities ahead and continue to expect to deliver 10,000 lots during fiscal 2020 and 12,000 lots in fiscal 2021."

For earnings history and earnings-related data on Forestar Group (FOR) click here.

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