FOR Q2 2026 Earnings
Reported Apr 21, 2026 at 1:43 PM ET · SEC Source
Q2 26 EPS
$0.63
MISS 0.77%
Est. $0.63
Q2 26 Revenue
$374.3M
BEAT +0.17%
Est. $373.7M
vs S&P Since Q2 26
+16.9%
BEATING MARKET
FOR +19.4% vs S&P +2.5%
Market Reaction
Did FOR Beat Earnings? Q2 2026 Results
Forestar Group delivered a mixed fiscal second quarter for 2026, narrowly missing earnings expectations while edging past revenue estimates as higher lot prices offset softer sales volumes. The residential lot developer posted diluted EPS of $0.63, f… Read more Forestar Group delivered a mixed fiscal second quarter for 2026, narrowly missing earnings expectations while edging past revenue estimates as higher lot prices offset softer sales volumes. The residential lot developer posted diluted EPS of $0.63, falling just short of the $0.63 consensus by 0.77%, while revenue of $374.30 million topped estimates by 0.17% and rose 6.6% year over year. The key driver behind the revenue gain was a meaningful increase in the average sales price per lot to $112,800 from $101,700 a year ago, which more than compensated for a 14% decline in lots sold to 2,938. Pre-tax income climbed 8% to $43.90 million, though a higher effective tax rate tempered net income growth to 2%. The stock dipped in pre-market trading as investors weighed margin pressures alongside the solid top-line result. Looking ahead, management narrowed its fiscal 2026 lot delivery guidance to 14,000 to 14,500 lots, citing affordability constraints, while maintaining full-year revenue guidance of $1.60 billion to $1.70 billion.
Key Takeaways
- • Higher average sales price per lot of $112,800 vs $101,700 in prior year quarter, offsetting 14% decline in lots sold
- • Tract sales and other revenue increased significantly to $42.9 million from $4.1 million year-over-year
- • Infrastructure cost reimbursements of $130.9 million from utility and improvement districts
- • Increased revolving credit facility capacity by $50 million
FOR Forward Guidance & Outlook
Management narrowed fiscal 2026 lot delivery guidance to 14,000–14,500 lots (from prior guidance of 14,000–15,000 lots) based on year-to-date results and current market conditions. Revenue guidance for fiscal 2026 was maintained at $1.6 billion to $1.7 billion. The company cited ongoing affordability constraints and cautious consumer sentiment impacting the pace of new home sales. Forestar expects to continue aggregating market share supported by its financial strength, operating platform, strategic relationship with D.R. Horton, and $2.2 billion of contracted future revenue.
FOR YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
FOR Revenue by Segment
With YoY comparisons, source: SEC Filings
“The Forestar team achieved solid second quarter results including a 7% increase in revenues and an 8% increase in pre-tax income. Liquidity increased to $1.0 billion driven by financial discipline despite ongoing affordability constraints and cautious consumer sentiment that continue to impact the pace of new home sales. We continue to focus 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.”
— Donald J. Tomnitz, Q2 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% |