Forestar Group (FOR) Misses Q3 2026 Estimates for Third Straight Quarter

Forestar reported Q3 2026 earnings per share of $0.70, coming in roughly 14% below the consensus estimate of $0.81. Revenue landed at $407 million against an expectation of about $438 million, a miss of around 7%. The back-to-back-to-back shortfalls mark the third consecutive quarter in which the land developer has fallen short on both the top and bottom lines.

The recurring pressure traces to housing affordability headwinds that have weighed on demand for finished lots, squeezing the results of one of the country's largest residential land developers. Looking at the recent earnings history, Forestar had beaten estimates comfortably in Q4 2024 and Q4 2025, but the quarters in between have been a struggle — Q1 2025 saw EPS of just $0.32 against a $0.70 estimate, and the trend of misses has continued into the current fiscal year.

Despite the run of disappointments, management is not pulling its full-year outlook. The company is pointing to $2.3 billion in contracted future revenue as the foundation for holding that guidance in place, suggesting leadership believes the lot pipeline will translate into results even if near-term affordability conditions remain challenging.