Forestar Group Inc. (FOR), a national residential lot developer, Tuesday reported higher second-quarter earnings as revenue increased.
For the second quarter, Net earnings came in at $32.1 million or $0.63 per share compared to $31.6 million or $0.62 per share last year.
The Company's lot position in the second quarter was 94,400 lots, of which 63,500 were owned, and 30,900 were controlled through land and lot purchase contracts.
Quarterly revenue rose to $374.3 million, from $351.0 million a year ago.
Looking ahead to fiscal 2026, the company updated lot delivery guidance to be between 14,000 and 14,500 lots compared to 14,000 and 15,000 lots, while it maintains revenue guidance of $1.6 billion to $1.7 billion.
On the New York Stock Exchange, shares of Forestar were losing 0.49 percent in pre-market activity at $26.33, after closing Monday's regular trading 0.64 percent lower at $26.46.
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