ARLINGTON, Texas--(BUSINESS WIRE)--Forestar Group Inc. (“Forestar”) (NYSE: FOR), a leading national residential lot developer, today reported financial results for its second fiscal quarter ended March 31, 2026.

德克薩斯州阿靈頓 --（商業資訊）--Forestar Group Inc.（“Forestar”）（紐約證券交易所代碼：FOR），一家領先的全國住宅用地開發商，今天公佈了截至2026年3月31日的第二財季財務業績。

Fiscal 2026 Second Quarter Highlights

2026 財年第二季度亮點

As of or for the quarter ended March 31, 2026, unless otherwise noted

截至2026年3月31日的季度數據，除非另有説明

All comparisons to the prior year quarter

所有與去年同期的比較

Net income attributable to Forestar increased 2% to $32.1 million or $0.63 per diluted share
Pre-tax income increased 8% to $43.9 million
Consolidated revenues increased 7% to $374.3 million on 2,938 lots sold
Owned and controlled 94,400 lots
24,100 lots contracted for sale representing $2.2 billion of future revenue
Real estate of $2.7 billion
Total liquidity of $1.0 billion
Net debt to total capital ratio of 19.2%
Return on equity of 9.6% for the trailing twelve months ended March 31, 2026
Book value per share increased 10% to $35.66

歸屬於 Forestar 的淨收入增加 2%，達到 3210 萬美元，或每股攤薄收益 0.63 美元
税前收入增加 8%，達到 4390 萬美元
合併收入增加 7%，達到 3.743 億美元，銷售了 2938 個地塊
擁有和控制 94400 個地塊
簽訂銷售合同的地塊數量為 24100 個，代表 22 億美元的未來收入
房地產總值為 27 億美元
總流動性為 10 億美元
淨債務與總資本比率為 19.2%
截至2026年3月31日的過去十二個月的股本回報率為 9.6%
每股賬面價值增加 10%，達到 35.66 美元

Financial Results

財務業績

Net income attributable to Forestar for the second quarter of fiscal 2026 increased 2% to $32.1 million, or $0.63 per diluted share, compared to $31.6 million, or $0.62 per diluted share, in the same quarter of fiscal 2025. Pre-tax income for the quarter increased 8% to $43.9 million from $40.7 million in the same quarter of fiscal 2025. Revenues for the second quarter increased 7% to $374.3 million from $351.0 million in the same quarter of fiscal 2025.

2026 財年第二季度歸屬於 Forestar 的淨收入增加 2%，達到 3210 萬美元，或每股攤薄收益 0.63 美元，而 2025 財年同季度為 3160 萬美元，或每股攤薄收益 0.62 美元。該季度的税前收入增加 8%，達到 4390 萬美元，而 2025 財年同季度為 4070 萬美元。第二季度的收入增加 7%，達到 3.743 億美元，而 2025 財年同季度為 3.510 億美元。

For the six months ended March 31, 2026, net income attributable to Forestar decreased 1% to $47.5 million, or $0.93 per diluted share, compared to $48.1 million, or $0.94 per diluted share, in the same period of fiscal 2025. Pre-tax income for the six months ended March 31, 2026 increased 4% to $64.8 million from $62.6 million in the same period of fiscal 2025. Revenues for the first six months of fiscal 2026 increased 8% to $647.3 million from $601.3 million in the same period of fiscal 2025.

截至2026年3月31日的六個月內，歸屬於 Forestar 的淨收入減少 1%，達到 4750 萬美元，或每股攤薄收益 0.93 美元，而 2025 財年同期間為 4810 萬美元，或每股攤薄收益 0.94 美元。截止2026年3月31日的六個月內，税前收入增加 4%，達到 6480 萬美元，而 2025 財年同期間為 6260 萬美元。2026 財年上半年收入增加 8%，達到 6.473 億美元，而 2025 財年同期間為 6.013 億美元。

The Company’s return on equity was 9.6% for the trailing twelve months ended March 31, 2026. Return on equity is calculated as net income attributable to Forestar for the trailing twelve months divided by average stockholders’ equity, where average stockholders’ equity is the sum of ending stockholders’ equity balances of the trailing five quarters divided by five.

截至2026年3月31日，公司過去十二個月的股本回報率為 9.6%。股本回報率的計算方式為歸屬於 Forestar 的淨收入除以平均股東權益，平均股東權益為過去五個季度末股東權益餘額的總和除以五。

Operational Results

運營業績

Lots sold during the second quarter decreased 14% to 2,938 lots compared to 3,411 lots in the same quarter of fiscal 2025. During the second quarter of fiscal 2026, Forestar sold 488 lots to customers other than D.R. Horton, Inc. (“D.R. Horton”) compared to 910 lots in the prior year quarter. Lots sold to customers other than D.R. Horton in the prior year quarter included 362 lots that were sold to a lot banker who expects to sell those lots to D.R. Horton at a future date.

2026 財年第二季度銷售的地塊數量減少 14%，為 2938 個，而 2025 財年同季度為 3411 個。在 2026 財年第二季度，Forestar 向除 D.R. Horton, Inc.（“D.R. Horton”）以外的客户銷售了 488 個地塊，而去年同期為 910 個。去年同期向除 D.R. Horton 以外的客户銷售的地塊中包括 362 個，預計將轉售給 D.R. Horton。

Lots sold during the six months ended March 31, 2026 decreased 15% to 4,882 lots compared to 5,744 lots in the same period of fiscal 2025. During the six months ended March 31, 2026, 805 lots were sold to customers other than D.R. Horton compared to 1,131 lots in the same period of fiscal 2025. Lots sold to customers other than D.R. Horton in the current year six-month period included 146 lots that were sold to a lot banker who expects to sell those lots to D.R. Horton at a future date compared to 362 lots in the prior year period.

截至2026年3月31日的六個月內，銷售的地塊數量減少 15%，為 4882 個，而 2025 財年同期間為 5744 個。在截至2026年3月31日的六個月內，向除 D.R. Horton 以外的客户銷售了 805 個地塊，而 2025 財年同期間為 1131 個。今年六個月內向除 D.R. Horton 以外的客户銷售的地塊中包括 146 個，預計將轉售給 D.R. Horton，而去年同期為 362 個。

The Company’s lot position at March 31, 2026 was 94,400 lots, of which 63,500 were owned and 30,900 were controlled through land and lot purchase contracts. Lots owned at March 31, 2026 included 9,300 that were fully developed. Of the Company’s owned lot position at March 31, 2026, 24,100 lots, or 38%, were under contract to be sold, representing approximately $2.2 billion of future revenue. Another 18,100 lots, or 29%, of the Company’s owned lots were subject to a right of first offer to D.R. Horton based on executed purchase and sale agreements at March 31, 2026.

截至2026年3月31日，公司擁有的地塊數量為 94400 個，其中 63500 個為自有地塊，30900 個通過土地和地塊購買合同控制。截止2026年3月31日，擁有的地塊中包括 9300 個已完全開發的地塊。在截至2026年3月31日的自有地塊中，24100 個地塊（佔 38%）已簽訂銷售合同，代表約 22 億美元的未來收入。另有 18100 個地塊（佔 29%）的自有地塊根據截至2026年3月31日的購銷協議享有優先購買權，出售給 D.R. Horton。

Capital Structure, Leverage and Liquidity

資本結構、槓桿和流動性

Forestar ended the quarter with $362.2 million of unrestricted cash and $672.1 million of available borrowing capacity on its senior unsecured revolving credit facility for total liquidity of $1.0 billion. During the quarter, the Company increased the capacity of its senior unsecured revolving credit facility by $50 million. In addition, the Company collected $130.9 million of reimbursements related to infrastructure costs in utility and improvement districts. Debt at March 31, 2026 totaled $793.5 million, with no senior note maturities in the next twelve months. The Company’s net debt to total capital ratio at the end of the quarter was 19.2%. Net debt to total capital consists of debt net of unrestricted cash divided by stockholders’ equity plus debt net of unrestricted cash.

Forestar 在本季度末擁有 3.622 億美元的無限制現金和 6.721 億美元的可用借款能力，流動性總計為 10 億美元。在本季度，公司將其高級無擔保循環信貸額度的容量增加了 5000 萬美元。此外，公司收回了與公用事業和改善區基礎設施成本相關的 1.309 億美元的報銷。截止2026年3月31日的債務總額為 7.935 億美元，未來十二個月內沒有高級票據到期。公司在本季度末的淨債務與總資本比率為 19.2%。淨債務與總資本比率由淨債務（扣除無限制現金）除以股東權益加上淨債務（扣除無限制現金）計算。

Outlook

展望

Donald J. Tomnitz, Chairman of the Board, said, “The Forestar team achieved solid second quarter results including a 7% increase in revenues and an 8% increase in pre-tax income. Liquidity increased to $1.0 billion driven by financial discipline despite ongoing affordability constraints and cautious consumer sentiment that continue to impact the pace of new home sales. We continue to focus on maximizing returns in each of our projects by aligning the pace and price of lot sales with the timing of our investments to meet demand.

董事會主席 Donald J. Tomnitz 表示：“Forestar 團隊在第二季度取得了穩健的業績，包括收入增長 7% 和税前收入增長 8%。儘管持續的可負擔性限制和謹慎的消費者情緒仍然影響新房銷售的速度，但流動性增加至 10 億美元，得益於財務紀律。我們繼續專注於通過將地塊銷售的節奏和價格與我們的投資時機對齊，以滿足需求，從而最大化每個項目的回報。

“Based on our fiscal year-to-date results and current market conditions, we are updating our fiscal 2026 lot delivery guidance to between 14,000 and 14,500 lots compared to our prior guidance of between 14,000 and 15,000 lots. We maintain our previous fiscal 2026 revenue guidance of $1.6 billion to $1.7 billion.

“根據我們財年的迄今業績和當前市場狀況，我們將 2026 財年的地塊交付指導更新為 14000 至 14500 個地塊，而之前的指導為 14000 至 15000 個地塊。我們維持之前的 2026 財年收入指導為 16 億美元至 17 億美元。

“Forestar is uniquely positioned to consistently supply finished lots that are essential to the homebuilding industry. Our strong balance sheet and liquidity provide flexibility and resilience to navigate through changing market conditions. We expect to continue aggregating market share, supported by our financial strength, substantial operating platform, strategic relationship with D.R. Horton and $2.2 billion of contracted future revenue. We remain committed to disciplined capital allocation while positioning Forestar for growth and long-term shareholder value.”

“Forestar 在持續供應對住宅建築行業至關重要的成品地塊方面具有獨特的優勢。我們強大的資產負債表和流動性為我們在變化的市場條件中提供了靈活性和韌性。我們預計將繼續聚集市場份額，得益於我們的財務實力、龐大的運營平台、與 D.R. Horton 的戰略關係以及 22 億美元的未來合同收入。我們仍然致力於有紀律的資本配置，同時為 Forestar 的增長和長期股東價值做好準備。”

Conference Call and Webcast Details

電話會議和網絡直播詳情

The Company will host a conference call today (Tuesday, April 21) at 11:00 a.m. Eastern Time. The dial-in number is 888-506-0062, the entry code is 264058, and the call will also be webcast from the Company’s website at investor.forestar.com.

公司將於今天（4 月 21 日，星期二）上午 11:00（東部時間）召開電話會議。撥入號碼為 888-506-0062，輸入代碼為 264058，會議也將在公司網站上進行網絡直播，網址為 investor.forestar.com。

Third Quarter Conference Call

第三季度電話會議

The Company plans to release financial results for its third quarter ended June 30, 2026 on July 21, 2026 before the market opens. The Company will host a conference call that morning at 11:00 a.m. Eastern Time. Details on how to access the conference call will be available at a later date.

公司計劃於2026年7月21日市場開盤前發佈截至2026年6月30日的第三季度財務業績。公司將在當天上午 11:00（東部時間）召開電話會議。有關如何訪問電話會議的詳細信息將在稍後公佈。

About Forestar Group Inc.

關於 Forestar 集團公司

Forestar Group Inc. is a residential lot development company with operations in 64 markets and 24 states. Based in Arlington, Texas, the Company delivered more than 13,300 residential lots during the twelve-month period ended March 31, 2026. Forestar is a majority-owned subsidiary of D.R. Horton, the largest homebuilder by volume in the United States since 2002.

Forestar 集團公司是一家住宅地塊開發公司，在 64 個市場和 24 個州開展業務。公司總部位於德克薩斯州阿靈頓，在截至2026年3月31日的 12 個月期間交付了超過 13,300 個住宅地塊。Forestar 是 D.R. Horton 的控股子公司，自 2002 年以來，D.R. Horton 是美國按銷量計算最大的住宅建築商。

Forward-Looking Statements

前瞻性聲明

Portions of this document may constitute “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Although Forestar believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. All forward-looking statements are based upon information available to Forestar on the date this release was issued. Forestar does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements in this release include we now expect to deliver between 14,000 and 14,500 lots, generating $1.6 billion to $1.7 billion of revenue; Forestar is uniquely positioned to consistently supply finished lots that are essential to the homebuilding industry; our strong balance sheet and liquidity provide flexibility and resilience to navigate through changing market conditions; we expect to continue aggregating market share, supported by our financial strength, substantial operating platform, strategic relationship with D.R. Horton and $2.2 billion of contracted future revenue; and we remain committed to disciplined capital allocation while positioning Forestar for growth and long-term shareholder value.

本文件的部分內容可能構成 1995 年《私人證券訴訟改革法》所定義的 “前瞻性聲明”。儘管 Forestar 相信任何此類聲明都是基於合理假設，但不能保證實際結果不會與預期結果有重大差異。所有前瞻性聲明均基於 Forestar 在發佈本聲明時可獲得的信息。Forestar 不承擔任何公開更新或修訂任何前瞻性聲明的義務，無論是由於新信息、未來事件還是其他原因。本聲明中的前瞻性聲明包括我們現在預計將交付 14,000 到 14,500 個地塊，產生 16 億到 17 億美元的收入；Forestar 在持續供應對住宅建築行業至關重要的成品地塊方面具有獨特的優勢；我們強大的資產負債表和流動性為我們在變化的市場條件中提供了靈活性和韌性；我們預計將繼續聚集市場份額，得益於我們的財務實力、龐大的運營平台、與 D.R. Horton 的戰略關係以及 22 億美元的未來合同收入；我們仍然致力於有紀律的資本配置，同時為 Forestar 的增長和長期股東價值做好準備。

Factors that may cause the actual results to be materially different from the future results expressed by the forward-looking statements include, but are not limited to: the effect of D.R. Horton’s controlling level of ownership on us and the holders of our securities; our ability to realize the potential benefits of the strategic relationship with D.R. Horton; the effect of our strategic relationship with D.R. Horton on our ability to maintain relationships with our customers; the cyclical nature of the homebuilding and lot development industries and changes in economic, real estate and other conditions; the impact of significant inflation, higher interest rates or deflation; supply shortages and other risks of acquiring land, construction materials and skilled labor; the effects of public health issues such as a major epidemic or pandemic on the economy and our business; the impacts of weather conditions and natural disasters; health and safety incidents relating to our operations; our ability to obtain or the availability of surety bonds to secure our performance related to construction and development activities and the pricing of bonds; the effect of information technology failures and the risk of cybersecurity incidents and the failure to satisfy privacy and data protection laws and regulations; the impact of governmental policies, laws or regulations and actions or restrictions of regulatory agencies; the effects of changes in income tax and securities law; our ability to achieve our strategic initiatives; continuing liabilities related to assets that have been sold; the cost and availability of property suitable for residential lot development; general economic, market or business conditions where our real estate activities are concentrated; our dependence on relationships with national, regional and local homebuilders; competitive conditions in our industry; obtaining reimbursements and other payments from governmental districts and other agencies and timing of such payments; our ability to succeed in new markets; the conditions of the capital markets and our ability to raise capital to fund expected growth; our ability to manage and service our debt and comply with our debt covenants, restrictions and limitations; the volatility of the market price and trading volume of our common stock; and our ability to hire and retain key personnel. Additional information about issues that could lead to material changes in performance is contained in Forestar’s annual report on Form 10-K and its most recent quarterly report on Form 10-Q, both of which are filed with the Securities and Exchange Commission.

可能導致實際結果與前瞻性聲明中表達的未來結果存在重大差異的因素包括但不限於：D.R. Horton 對我們的控股水平對我們及我們的證券持有者的影響；我們實現與 D.R. Horton 的戰略關係潛在利益的能力；我們與 D.R. Horton 的戰略關係對我們維持與客户關係的能力的影響；住宅建築和地塊開發行業的週期性特徵以及經濟、房地產和其他條件的變化；顯著通貨膨脹、高利率或通貨緊縮的影響；土地、建築材料和熟練勞動力的供應短缺及其他風險；公共衞生問題（如重大流行病或疫情）對經濟和我們業務的影響；天氣條件和自然災害的影響；與我們運營相關的健康和安全事件；我們獲得或可用的擔保債券以確保我們在建設和開發活動中的表現及債券定價的能力；信息技術故障的影響和網絡安全事件的風險，以及未能滿足隱私和數據保護法律法規的風險；政府政策、法律或法規的影響以及監管機構的行動或限制；所得税和證券法變化的影響；我們實現戰略目標的能力；與已售資產相關的持續負債；適合住宅地塊開發的物業的成本和可用性；我們房地產活動集中地區的一般經濟、市場或商業條件；我們對與國家、地區和地方住宅建築商關係的依賴；我們行業的競爭條件；從政府地區和其他機構獲得報銷和其他付款的能力及其時機；我們在新市場中取得成功的能力；資本市場的狀況及我們籌集資金以支持預期增長的能力；我們管理和服務債務以及遵守債務契約、限制和限制的能力；我們普通股的市場價格和交易量的波動性；以及我們招聘和留住關鍵人員的能力。有關可能導致業績重大變化的問題的更多信息，請參閲 Forestar 提交給證券交易委員會的 10-K 表格年度報告和最新的 10-Q 表格季度報告。


FORESTAR GROUP INC. Consolidated Balance Sheets (Unaudited)

	March 31, 2026		September 30, 2025
	(In millions, except share data)
ASSETS
Cash and cash equivalents	$	362.2		$	379.2
Real estate		2,709.7			2,645.1
Property and equipment, net		7.7			8.1
Other assets		93.0			104.6
Total assets	$	3,172.6		$	3,137.0
LIABILITIES
Accounts payable	$	73.3		$	71.0
Accrued development costs		113.9			131.8
Earnest money on sales contracts		208.6			193.3
Deferred tax liability, net		84.3			86.2
Accrued expenses and other liabilities		79.1			83.1
Debt		793.5			802.7
Total liabilities		1,352.7			1,368.1
EQUITY
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 51,008,733 and 50,833,171 shares issued and outstanding at March 31, 2026 and September 30, 2025, respectively		51.0			50.8
Additional paid-in capital		674.2			671.0
Retained earnings		1,093.6			1,046.1
Stockholders' equity		1,818.8			1,767.9
Noncontrolling interests		1.1			1.0
Total equity		1,819.9			1,768.9
Total liabilities and equity	$	3,172.6		$	3,137.0


FORESTAR GROUP INC.
合併資產負債表
（未經審計）

	2026年3月31日		2025年9月30日
	（以百萬計，除股份數據外）
資產
現金及現金等價物	$	362.2		$	379.2
房地產		2,709.7			2,645.1
淨物業和設備		7.7			8.1
其他資產		93.0			104.6
資產總計	$	3,172.6		$	3,137.0
負債
應付賬款	$	73.3		$	71.0
應計開發成本		113.9			131.8
銷售合同的誠意金		208.6			193.3
遞延所得税負債，淨額		84.3			86.2
應計費用及其他負債		79.1			83.1
債務		793.5			802.7
負債總計		1,352.7			1,368.1
股東權益
普通股，面值每股$1.00，授權股份 200,000,000 股，2026年3月31日和2025年9月30日已發行並流通的股份分別為 51,008,733 和 50,833,171		51.0			50.8
額外實收資本		674.2			671.0
留存收益		1,093.6			1,046.1
股東權益		1,818.8			1,767.9
非控股權益		1.1			1.0
股東權益總計		1,819.9			1,768.9
負債和股東權益總計	$	3,172.6		$	3,137.0


FORESTAR GROUP INC. Consolidated Statements of Operations (Unaudited)

	Three Months Ended March 31,		Six Months Ended March 31,
	2026		2025	2026		2025
	(In millions, except per share amounts)
Revenues	$	374.3		$	351.0		$	647.3		$	601.3
Cost of sales		294.1			271.8			512.1			467.2
Selling, general and administrative expense		37.9			38.4			74.3			74.3
Equity in earnings of unconsolidated ventures		—			—			—			(0.6	)
Interest and other income		(1.6	)		(1.0	)		(3.9	)		(3.3	)
Loss on extinguishment of debt		—			1.1			—			1.1
Income before income taxes.		43.9			40.7			64.8			62.6
Income tax expense		11.7			9.1			17.1			14.5
Net income		32.2			31.6			47.7			48.1
Net income attributable to noncontrolling interests		0.1			—			0.2			—
Net income attributable to Forestar Group Inc.	$	32.1		$	31.6		$	47.5		$	48.1

Basic net income per common share	$	0.63		$	0.62		$	0.93		$	0.95
Weighted average number of common shares		51.0			50.8			51.0			50.8

Diluted net income per common share	$	0.63		$	0.62		$	0.93		$	0.94
Adjusted weighted average number of common shares		51.2			51.0			51.2			51.1


FORESTAR GROUP INC.
合併損益表
（未經審計）

	截至
2026年3月31日的三個月		截至
2025年3月31日的六個月
	2026		2025	2026		2025
	（以百萬計，除每股金額外）
收入	$	374.3		$	351.0		$	647.3		$	601.3
銷售成本		294.1			271.8			512.1			467.2
銷售、一般和行政費用		37.9			38.4			74.3			74.3
對未合併企業的權益收益		—			—			—			(0.6	)
利息及其他收入		(1.6	)		(1.0	)		(3.9	)		(3.3	)
債務清償損失		—			1.1			—			1.1
税前收入		43.9			40.7			64.8			62.6
所得税費用		11.7			9.1			17.1			14.5
淨收入		32.2			31.6			47.7			48.1
歸屬於非控股權益的淨收入		0.1			—			0.2			—
歸屬於 Forestar Group Inc.的淨收入	$	32.1		$	31.6		$	47.5		$	48.1

每普通股基本淨收入	$	0.63		$	0.62		$	0.93		$	0.95
普通股加權平均數		51.0			50.8			51.0			50.8

每普通股稀釋淨收入	$	0.63		$	0.62		$	0.93		$	0.94
調整後的普通股加權平均數		51.2			51.0			51.2			51.1


FORESTAR GROUP INC. Revenues, Residential Lots Sold and Lot Position

	REVENUES
	Three Months Ended March 31,		Six Months Ended March 31,
	2026		2025		2026		2025
	(In millions)
Residential lot sales:
Development projects	$	329.4		$	338.9		$	560.5	$	579.9
Lot banking projects		2.0			8.0			6.1		13.1
Decrease in contract liabilities		—			—			—		1.2
		331.4			346.9			566.6		594.2
Tract sales and other		42.9			4.1			80.7		7.1
Total revenues	$	374.3		$	351.0		$	647.3	$	601.3

	RESIDENTIAL LOTS SOLD
	Three Months Ended March 31,		Six Months Ended March 31,
	2026		2025		2026		2025
Development projects		2,914			3,334			4,814		5,625
Lot banking projects		24			77			68		119
		2,938			3,411			4,882		5,744

Average sales price per lot (1)	$	112,800		$	101,700		$	116,000	$	103,200


					LOT POSITION
					March 31, 2026		September 30, 2025
Lots owned			63,500			65,100
Lots controlled under land and lot purchase contracts			30,900			34,700
Total lots owned and controlled			94,400			99,800

Owned lots under contract to sell to D.R. Horton			22,900			22,800
Owned lots under contract to customers other than D.R. Horton			1,200			1,000
Total owned lots under contract			24,100			23,800

Owned lots subject to right of first offer with D.R. Horton based on executed purchase and sale agreements			18,100			17,600
Owned lots fully developed			9,300			8,900


FORESTAR GROUP INC. 收入、住宅地塊銷售及地塊狀況

	收入
	截至 3 月 31 日的三個月		截至 3 月 31 日的六個月
	2026 年		2025 年		2026 年		2025 年
	（以百萬計）
住宅地塊銷售：
開發項目	$	329.4		$	338.9		$	560.5	$	579.9
地塊銀行項目		2.0			8.0			6.1		13.1
合同負債減少		—			—			—		1.2
		331.4			346.9			566.6		594.2
地塊銷售及其他		42.9			4.1			80.7		7.1
總收入	$	374.3		$	351.0		$	647.3	$	601.3

	銷售的住宅地塊
	截至 3 月 31 日的三個月		截至 3 月 31 日的六個月
	2026 年		2025 年		2026 年		2025 年
開發項目		2,914			3,334			4,814		5,625
地塊銀行項目		24			77			68		119
		2,938			3,411			4,882		5,744

每塊地的平均銷售價格 (1)	$	112,800		$	101,700		$	116,000	$	103,200


					地塊狀況
					2026年3月31日		2025年9月30日
擁有地塊			63,500			65,100
根據土地和地塊購買合同控制的地塊			30,900			34,700
總擁有和控制的地塊			94,400			99,800

擁有的地塊與 D.R. Horton 簽訂的銷售合同			22,900			22,800
擁有的地塊與除 D.R. Horton 以外的客户簽訂的合同			1,200			1,000
總擁有的地塊合同			24,100			23,800

擁有的地塊根據已簽署的購銷協議與 D.R. Horton 的優先購買權			18,100			17,600
完全開發的擁有地塊			9,300			8,900


\\\___________
(1)		Excludes any impact from change in contract liabilities.


\\\___________
(1)		不包括合同負債變動的任何影響。

View source version on businesswire.com: https://www.businesswire.com/news/home/20260421931435/en/

在 businesswire.com 上查看源版本：https://www.businesswire.com/news/home/20260421931435/en/

Chris Hibbetts, 817-769-1860

Vice President of Finance & Investor Relations

財務與投資者關係副總裁

InvestorRelations@forestar.com

Source: Forestar Group Inc.

來源：Forestar Group Inc.

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