Forestar ( (FOR) ) has realeased its Q4 earnings. Here is a breakdown of the information Forestar presented to its investors.
Forestar Group Inc. is a national residential lot development company operating across 59 markets and 24 states, recognized for delivering over 15,000 lots annually and as a majority-owned subsidiary of D.R. Horton, the largest homebuilder by volume in the U.S. since 2002.
The company reported robust financial results for its fourth quarter and fiscal year 2024, with significant increases in net and pre-tax income year-over-year. Net income for the fiscal year rose by 22% to $203.4 million, while revenue increased by 5% to $1.5 billion, highlighting Forestar’s strong operational performance despite challenging market conditions.
Key financial metrics for the fourth quarter included a 13% rise in net income, reaching $81.6 million, and a 14% increase in pre-tax income to $108.5 million. Forestar also sold 5,374 lots during the quarter, marking an 8% increase from the previous year. For the fiscal year, the company saw a 7% increase in lots sold, totaling 15,068, and maintained a solid lot position with 95,100 lots owned and controlled.
Looking ahead, Forestar is positioned to capitalize on the shortage of finished lots in the homebuilding industry. With a strong balance sheet and ample liquidity, the company plans to deliver between 16,000 and 16,500 lots in fiscal 2025, aiming for revenues between $1.6 billion and $1.65 billion. Forestar remains focused on maximizing returns and enhancing shareholder value through strategic investments and disciplined capital management.
