Forestar Group (NYSE: FOR) reported Q1 EPS of $0.81, $0.14 better than the analyst estimate of $0.67. Revenue for the quarter came in at $407.6 million versus the consensus estimate of $358.1 million.

GUIDANCE:

Forestar Group sees FY2022 revenue of $1.7 billion, versus the consensus of $1.65 billion.

• Donald J. Tomnitz, Chairman of the Board, said, "The Forestar team is off to a great start in fiscal 2022 with over 4,500 lot deliveries during our first fiscal quarter. We continue to capture market share in the fragmented and under-capitalized U.S. lot development industry, and as a result, we are increasing our guidance for fiscal 2022. We now expect to deliver between 19,500 and 20,000 lots generating approximately $1.7 billion of revenue, and expect our pre-tax profit margin to be between 13.5% and 14.0% for the full fiscal year.
• "Forestar's return-focused business model is centered on our high inventory turnover, lower risk lot manufacturing strategy. Our strategic and operational plan is underpinned by our low net leverage and strong liquidity, the engagement of our people and our strategic relationship with D.R. Horton, the nation's largest homebuilder. With over 100,000 lots owned and controlled at December 31, 2021, we expect continued robust growth with increasing pre-tax profitability and returns in the coming years."

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