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Forestar Group
Forestar Group (FOR) investor relations material
Forestar Group Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary20 Jan, 2026
Executive summary
Revenues rose 9% year-over-year to $273.0 million on 1,944 lots sold, with book value per share up 10% to $35.10 and a contracted backlog supporting $2.2 billion in future revenue.
Net income was $15.4 million ($0.30 per diluted share), down from $16.5 million ($0.32 per share) in the prior year quarter; return on equity was 9.8% for the trailing twelve months.
Owned and controlled 101,000 lots at quarter end, with 24,100 under contract for sale and D.R. Horton holding a 62% ownership stake.
Maintained a strong relationship with D.R. Horton, supporting national platform expansion and providing stability in changing market conditions.
Financial highlights
Pre-tax income was $20.8 million, down from $21.9 million year-over-year; gross profit margin was 20.1%, or 21.5% excluding a low-margin tract sale.
SG&A expense was $36.5 million (13.4% of revenue), flat in dollars but improved as a percentage of revenue from 14.4% last year.
Average lot sales price was $121,000, influenced by a higher mix of premium lots.
Adjusted EBITDA for Q1 FY 2026 was $26.9 million, with a margin of 9.9%.
Outlook and guidance
Fiscal 2026 guidance projects 14,000–15,000 lot deliveries and consolidated revenues of $1.6–$1.7 billion.
Gross margins expected to remain in the historical 21–23% range, likely at the lower end due to current market conditions.
Planned investment of approximately $1.4 billion in land and land development for FY 2026.
SG&A and headcount expected to remain stable for the remainder of the year.
What factors pressure future gross margins?
Path to 1 in 3 D.R. Horton lot share
Adjustments to Texas/Florida investment strategy?
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Next Forestar Group earnings date
Q2 202621 Apr, 2026
Forestar Group
Next Forestar Group earnings date
Q2 202621 Apr, 2026
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Frequently asked questions
Forestar Group Inc. operates as a residential lot development company in the United States. The company is engaged in the sale of owned and controlled residential lots to homebuilders as well as individual home buyers. It also offers affordable, move-up, active adult and luxury homes under the Taylor Morrison brand; energy efficient homes under the Darling Homes brand; and luxury homes under the Monarch Collection brand.
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