Forestar Group 10-Q: Revenue $374.3M qtr, EPS $0.63
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Forestar Group reported Q1 revenue of $374.3 million and net income of $32.2 million, with EPS of $0.63. For six months, revenue reached $647.3 million, up 8% year-over-year, and net income was $47.7 million (EPS $0.93). The company noted pricing momentum, with average lot prices increasing 12% to $116,000, and a concentrated sales channel, primarily with D.R. Horton purchasing 4,077 of 4,882 lots. The total lot position is 94,400, with 24,100 lots under contract. Emphasis remains on short-duration projects and flexible land banking strategies.
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