Forestar Group (FOR) Reports Q1 Loss of 24c/Share, Revenue Misses

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Go back to Forestar Group (FOR) Reports Q1 Loss of 24c/Share, Revenue Misses

Forestar Group Inc. Reports First Quarter 2015 Results

May 6, 2015 7:05 AM EDT

AUSTIN, Texas--(BUSINESS WIRE)-- Forestar Group Inc. (NYSE: FOR) today reported a first quarter 2015 net loss of approximately ($8.2) million, or ($0.24) per share outstanding, compared with first quarter 2014 net income of approximately $8.3 million, or $0.19 per share outstanding.

"Our first quarter operating results were adversely impacted principally by timing of real estate sales activity and lower commodity prices. We sold less than 300 residential lots during first quarter along with minimal tract and undeveloped land sales. However, given our current backlog of lots under contract and low new home inventories in a majority of our... More