(Adds Outlook, stock movement)
On its outlook, Forestar Group Inc. (FOR) commented, "Affordability constraints and declining consumer confidence continue to impact the pace of new home sales, resulting in a slower than expected start to the spring selling season."
Subsequently, it trimmed 2025 revenue guidance to $1.5 billion-$1.55 billion from $1.6 billion-$1.65 billion expected earlier.
In the pre-market trade on Thursday, the stock was trading down 3.10 percent or 59 cents at $18.45
Q2 Results:
Forestar released a profit for second quarter that decreased from the same period last year and missed the Street estimates.
The company's earnings totaled $31.60 million, or $0.62 per share. This compares with $45.00 million, or $0.89 per share, last year.
Analysts on average had expected the company to earn $0.73 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 5.2% to $351.00 million from $333.80 million last year.
Forestar Group Inc. earnings at a glance (GAAP) :
-Earnings: $31.60 Mln. vs. $45.00 Mln. last year.-EPS: $0.62 vs. $0.89 last year.-Revenue: $351.00 Mln vs. $333.80 Mln last year.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.