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Forestar Group

FOR Q4 2025 Earnings

Reported Oct 28, 2025 at 2:51 PM ET · SEC Source

Q4 25 EPS

$1.70

BEAT +34.62%

Est. $1.26

Q4 25 Revenue

$670.5M

BEAT +20.47%

Est. $556.6M

vs S&P Since Q4 25

+8.2%

BEATING MARKET

FOR +14.2% vs S&P +6.1%

Full Year 2025 Results

FY 25 EPS

$3.29

FY 25 Revenue

$1.66B

Market Reaction

Did FOR Beat Earnings? Q4 2025 Results

Forestar Group delivered a decisive beat in fiscal Q4 2025, with earnings of $1.70 per diluted share clearing the $1.26 consensus estimate by 34.62% and revenue of $670.50 million topping expectations by 20.47% while climbing 21.6% year-over-year. Th… Read more Forestar Group delivered a decisive beat in fiscal Q4 2025, with earnings of $1.70 per diluted share clearing the $1.26 consensus estimate by 34.62% and revenue of $670.50 million topping expectations by 20.47% while climbing 21.6% year-over-year. The standout driver was a sharp rise in average sales price per lot, which jumped to $115,700 from $97,300 a year ago, more than offsetting a 9% decline in lot volume to 4,891 units and powering net income 7% higher to $87.00 million. A pre-market stock surge of roughly 9% reflected investor relief after a full fiscal year in which profitability compressed, with annual net income falling 17% to $167.90 million despite revenues growing 10% to $1.66 billion. Forestar enters fiscal 2026 with $968.10 million in liquidity, $2.10 billion of contracted future revenue, and management guidance calling for 14,000 to 15,000 lot deliveries generating $1.60 billion to $1.70 billion in revenue, signaling steady if measured growth ahead.

Key Takeaways

  • • Average sales price per lot increased to $115,700 from $97,300 year-over-year in Q4
  • • Revenue growth of 22% in Q4 driven by higher lot pricing despite 9% decline in lots sold
  • • Tract sales and other revenue surged to $103.4 million from $23.4 million in Q4 2024
  • • Lots contracted for sale increased 13% to 23,800 lots at fiscal year-end
  • • Owned lot position grew to 65,100 lots from 57,800 year-over-year
24/7 Wall St

FOR YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

FOR Revenue by Segment

With YoY comparisons, source: SEC Filings

Q3 25 Q2 26

“The Forestar team finished the year with a strong fourth quarter, demonstrating demand for finished lots is solid despite the continued impact of ongoing affordability constraints and cautious consumer sentiment on new home demand. We delivered over 14,200 finished lots in fiscal 2025, and our revenues exceeded the high end of our most recent guidance range.”

— Donald J. Tomnitz, Q4 2025 Earnings Press Release

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