FOR · FORESTAR GROUP Q3 FY2026 earnings call record财报电话会记录

“Earnings per diluted share increased 8% to $0.70, and pre-tax income increased 12% to $48.7 million.”

“Book value per share increased 10% from a year ago to $36.40, and our contracted backlog remains strong with visibility towards $2.3 billion of future revenue.”

“In the third quarter, net income attributable to Forestar increased 9% to $35.9 million, or $0.70 per diluted share, compared to $32.9 million or $0.65 per diluted share in the prior year quarter.”

“We expect continued quarterly fluctuations in our average sales price based on the geographic and lot size mix of our delivery.”

“Our gross profit margin for the quarter was 20.7%, compared to 20.4% for the same quarter last year.”

“We also continue to expand our relationships with other home builders, selling 289 lots or 8% of our third quarter deliveries to 12 other customers this quarter.”

“Consistent with our focus on capital efficiency, we target owning a three- to four-year supply of land and lots and manage development phases to deliver finished lots at a pace that matches demand.”

“Roughly 80% of our investment was for land development and 20% was for land acquisition.”

“Total debt at June 30th was $793.8 million, with no senior note maturities in the next 12 months.”

“Project-level land acquisition and development loans have become less available and more expensive in recent years, impacting most of our competitors who generally rely on this type of financing.”

“As outlined in our press release, we are maintaining our fiscal 2026 lot delivery guidance of 14,000-14,500 lots and our revenue guidance of $1.6 billion-$1.7 billion.”

“Although home affordability constraints and cautious consumer sentiment are expected to remain near-term headwinds for home demand, we are confident in the long-term demand for finished lots and our ability to gain market share in the highly fragmented lot development industry.”