FOR Q1 2026 Earnings
Reported Jan 20, 2026 at 2:59 PM ET · SEC Source
Q1 26 EPS
$0.30
MISS 0.33%
Est. $0.30
Q1 26 Revenue
$273.0M
BEAT +2.83%
Est. $265.5M
vs S&P Since Q1 26
+16.4%
BEATING MARKET
FOR +22.8% vs S&P +6.4%
Market Reaction
Did FOR Beat Earnings? Q1 2026 Results
Forestar Group delivered a mixed fiscal first quarter for 2026, posting revenue that cleared Wall Street's bar while earnings fell just short, sending shares lower in the session that followed. The residential lot developer reported Q1 revenue of $27… Read more Forestar Group delivered a mixed fiscal first quarter for 2026, posting revenue that cleared Wall Street's bar while earnings fell just short, sending shares lower in the session that followed. The residential lot developer reported Q1 revenue of $273.00 million, up 9% year-over-year and ahead of the $265.48 million consensus estimate, yet diluted EPS of $0.30 missed the $0.30 forecast by 0.33% and declined from $0.32 in the year-ago period. The central tension in the quarter was a trade-off between price and volume: average lot sales prices climbed to $121,000 from $105,500 a year ago, but lots sold fell 17% to 1,944, compressing net income by 7% to $15.40 million. A surge in tract sales to $37.80 million from just $3.00 million provided meaningful revenue support, partially cushioning the volume shortfall. Despite affordability constraints and cautious consumer sentiment cited by Chairman Donald Tomnitz, Forestar reaffirmed its fiscal 2026 guidance of 14,000 to 15,000 lot deliveries and $1.60 billion to $1.70 billion in revenue, backed by $2.20 billion in contracted future revenue.
Key Takeaways
- • Average sales price per lot increased to $121,000 from $105,500 year-over-year
- • Tract sales and other revenue surged to $37.8 million from $3.0 million in the prior year quarter
- • Lots sold decreased 17% to 1,944 from 2,333 due to affordability constraints and cautious consumer sentiment
- • Sales to customers other than D.R. Horton grew to 317 lots from 221 lots
FOR YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
FOR Revenue by Segment
With YoY comparisons, source: SEC Filings
“The Forestar team delivered increased revenues compared to the prior year quarter and maintained strong liquidity through disciplined inventory investment amid ongoing affordability constraints and cautious consumer sentiment that continue to impact the pace of new home sales. We are focused on maximizing returns in each of our projects by aligning the pace and price of lot sales with the timing of our investments to meet demand. In fiscal 2026, we still expect to deliver between 14,000 and 15,000 lots, generating $1.6 billion to $1.7 billion of revenue.”
— Donald J. Tomnitz, Q1 2026 Earnings Press Release
FOR Earnings Trends
FOR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FOR EPS Trend
Earnings per share: estimate vs actual
FOR Revenue Trend
Quarterly revenue: estimate vs actual
FOR Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $0.63 | $0.63 | -0.77% | $374.3M | +0.17% |
| Q1 26 MISS | $0.30 | $0.30 | -0.33% | $273.0M | +2.83% |
| Q4 25 BEAT FY | $1.26 | $1.70 | +34.62% | $670.5M | +20.47% |
| FY Full Year | — | $3.29 | — | $1.66B | — |
| Q3 25 MISS | $0.76 | $0.65 | -14.17% | $390.5M | -0.38% |