(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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