0001628280-26-026783
SEC filingForestar's second quarter revenue grew 6.6% to $374.3M, with net income up 1.6% to $32.1M, driven by higher lot sales and pricing mix.
Revenue for the second quarter of fiscal 2026 increased 6.6% to $374.3 million compared to $351.0 million in the prior year period. The increase was primarily due to changes in the regional mix of lot sales, which drove a higher average sales price per lot. The company continues to focus on managing pricing and sales pace to optimize returns on inventory investments.
Net income increased 1.6% to $32.1 million, with diluted earnings per share of $0.63 compared to $0.62. The modest growth reflects the impact of higher revenue and gross profit, partially offset by increased costs and land option charges. The effective tax rate remained consistent with prior periods.
The company continues to invest in entitled short-duration projects that can be developed in phases to match market demand, consistent with its focus on capital efficiency and returns. Management regularly evaluates alternatives for managing capital structure and liquidity in consideration of expected cash flows, growth, and operating capital requirements. The company expects that its performance obligations secured by letters of credit and bonds will be completed in the ordinary course of business.