--- title: "Forestar | 8-K: FY2026 Q3 Revenue Misses Estimate at USD 407 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/293365682.md" datetime: "2026-07-21T16:05:08.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293365682.md) - [en](https://longbridge.com/en/news/293365682.md) - [zh-HK](https://longbridge.com/zh-HK/news/293365682.md) generator: "portal-rs" --- # Forestar | 8-K: FY2026 Q3 Revenue Misses Estimate at USD 407 M Revenue: As of FY2026 Q3, the actual value is USD 407 M, missing the estimate of USD 437.75 M. EPS: As of FY2026 Q3, the actual value is USD 0.7, missing the estimate of USD 0.81. EBIT: As of FY2026 Q3, the actual value is USD 48.7 M. #### Fiscal 2026 Third Quarter Financial Highlights Net income attributable to Forestar 集团 increased 9% to $35.9 million for the third fiscal quarter ended June 30, 2026, compared to $32.9 million in the prior year quarter. Pre-tax income rose 12% to $48.7 million from $43.6 million, achieving a pre-tax profit margin of 12.0%. Consolidated revenues increased 4% to $407.0 million from $390.5 million. Cost of sales was $322.9 million, up from $310.8 million. Selling, general and administrative expense increased to $38.3 million from $37.4 million. Interest and other income was - $2.9 million, compared to - $1.3 million. Income tax expense for the quarter was $12.7 million, up from $10.7 million. #### Fiscal 2026 Nine Months Financial Highlights For the nine months ended June 30, 2026, net income attributable to Forestar 集团 increased 3% to $83.5 million, compared to $81.0 million. Pre-tax income for the nine months increased 7% to $113.5 million from $106.2 million. Revenues for the first nine months of fiscal 2026 increased 6% to $1.1 billion from $1.0 billion. Cost of sales for the nine months was $835.0 million, up from $778.0 million. Selling, general and administrative expense was $112.6 million, compared to $111.8 million. Interest and other income was - $6.8 million, compared to - $4.6 million. Income tax expense was $29.8 million, up from $25.2 million. #### Balance Sheet and Liquidity as of June 30, 2026 Forestar 集团 reported $394.9 million in unrestricted cash and $669.9 million in available borrowing capacity on its senior unsecured revolving credit facility, resulting in total liquidity of $1.1 billion. The company’s debt totaled $793.8 million, with no senior note maturities in the next twelve months. The net debt to total capital ratio was 17.7%. Real estate assets stood at $2.7 billion. Total assets were $3,220.6 million at June 30, 2026, compared to $3,137.0 million at September 30, 2025. Total liabilities were $1,362.8 million at June 30, 2026, down from $1,368.1 million at September 30, 2025. Total equity was $1,857.8 million at June 30, 2026, up from $1,768.9 million at September 30, 2025. #### Operational Metrics Lots sold during the third quarter increased 1% to 3,659 lots, compared to 3,605 lots in the prior year quarter. During this quarter, 289 lots were sold to customers other than D.R. Horton, Inc., a decrease from 530 lots in the prior year quarter. For the nine months ended June 30, 2026, lots sold decreased 9% to 8,541 lots from 9,349 lots. Sales to customers other than D.R. Horton for the nine months were 1,094 lots, down from 1,661 lots. As of June 30, 2026, Forestar 集团 owned and controlled 91,700 lots, with 62,200 owned and 29,500 controlled through land and lot purchase contracts. This lot position decreased from 99,800 lots at September 30, 2025. Of the owned lots, 23,500 were under contract to be sold, representing approximately $2.3 billion of future revenue. Additionally, 19,200 owned lots were subject to a right of first offer to D.R. Horton. The average sales price per lot for the third quarter was $108,800, up from $106,600. For the nine months, the average sales price per lot was $113,000, up from $104,500. #### Unique Metrics Return on equity for the trailing twelve months ended June 30, 2026, was 9.6%. Book value per share increased 10% to $36.40. #### Outlook Forestar 集团 is maintaining its fiscal 2026 lot delivery guidance of 14,000 to 14,500 lots and its revenue guidance of $1.6 billion to $1.7 billion. The company aims to maximize returns, align lot sales with investments and market demand, and leverage its strong balance sheet and liquidity. Forestar 集团 expects to continue aggregating market share, supported by its financial strength, operating platform, strategic relationship with D.R. Horton, and $2.3 billion of contracted future revenue. ### Related Stocks - [FOR.US](https://longbridge.com/en/quote/FOR.US.md) ## Related News & Research - [Forestar director Lisa H. 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