Benzinga | Jul 20, 2021 05:06PM EDT

Forestar Group: Q3 Earnings Insights

Shares of Forestar Group (NYSE:FOR) rose in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share rose 275.00% over the past year to $0.60, which beat the estimate of $0.40.

Revenue of $312,900,000 higher by 75.89% year over year, which beat the estimate of $307,570,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Jul 20, 2021

Time: 05:00 PM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/2079/41788

Technicals

52-week high: $26.55

52-week low: $15.16

Price action over last quarter: down 22.68%

Company Profile

Forestar Group Inc is a residential lot development company with operations across the United States. The core business segment for the company is real estate which generates substantially all of its revenues. The firm primarily acquires entitled real estate and develops it into finished residential lots for sale to homebuilders with a strategic focus on asset turns and efficiency. Single-family residential communities account for the majority of their real estate projects. The company's alignment with D.R. Horton has grown the business into a national residential lot developer and has increased residential lot sales, which is responsible for a majority of its revenue. The company utilizes a lower-risk business model by mainly investing in short duration, phased development projects.