Forestar Group (FOR) Tops Q3 EPS by 22c, Revenues Beat

Forestar Group (NYSE: FOR) reported Q3 EPS of $0.21, $0.22 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $177.9 million versus the consensus estimate of $66.7 million.

Donald J. Tomnitz, Chairman of the Board, said, "Forestar remains uniquely positioned to consolidate market share in the under-served lot development market that lacks well-capitalized and national participants. As housing market conditions improved in May and June, Forestar was able to quickly respond to the increased demand for residential lots and deliver solid third quarter results.

"We appreciate the continued efforts of our dedicated teams across the country who are focused on developing finished lots for homes at affordable price points during the COVID-19 pandemic. Our priority continues to be the health and safety of our people and the communities we serve. Forestar is well positioned to effectively operate during changing economic conditions due to our low net leverage and strong liquidity position, our low overhead model and our strategic relationship with D.R. Horton, the nation’s largest homebuilder."

For earnings history and earnings-related data on Forestar Group (FOR) click here.

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