Asher Sohnen

Trevor Allinson

Alex Isaac

Barry Haimes

Carl Reichardt

Alex Barron

Anthony Pettinari

- Forestar Group Inc. reported **net income of $87.0 million** for the fourth quarter of fiscal 2025, an increase of **7%** year-over-year, with diluted earnings per share of **$1.70**.  **[1406587_0001406587-25-000081_a9302025exhibit991.htm:0]** 
- For the full fiscal year ended September 30, 2025, the company's net income totaled **$167.9 million** or **$3.29 per diluted share**, on consolidated revenues of **$1.7 billion** from **14,240 lots sold**.  **[1406587_0001406587-25-000081_a9302025exhibit991.htm:0]** 
- At September 30, 2025, Forestar owned and controlled **99,800 lots** and maintained a strong financial position with **$968.1 million** in total liquidity and a net debt to total capital ratio of **19.3%**.  **[1406587_0001406587-25-000081_a9302025exhibit991.htm:0]** **[1406587_0001406587-25-000081_a9302025exhibit991.htm:1]** 
- For fiscal year 2026, Forestar expects to deliver between **14,000 and 15,000 lots**, generating **$1.6 billion to $1.7 billion of revenue**.  **[1406587_0001406587-25-000081_a9302025exhibit991.htm:1]**

Forestar Group Inc. Reports Fourth Quarter and Fiscal 2025 Results

- Forestar reported **Q4 2025 revenue of $670,500,000** and **net income of $87,000,000**, with **diluted EPS of $1.7**.  **[0001406587_2208559_0]** **[0001406587_2208559_1]**  For the full fiscal year 2025, revenue increased **10% to $1,700,000,000**, and net income totaled **$167,900,000** or **$3.29 per diluted share**.  **[0001406587_2208559_1]** 
- The company's book value per share increased **11%** from a year ago to **$34.78**.  **[0001406587_2208559_0]** **[0001406587_2208559_2]**  Forestar ended the year with **$968,000,000 of liquidity**, including **$379,000,000** in unrestricted cash and **$589,000,000** in available capacity on its revolving credit facility.  **[0001406587_2208559_0]** **[0001406587_2208559_2]** 
- For fiscal year 2026, Forestar expects to deliver between **14,000 and 15,000 lots** and generate **$1,600,000,000 to $1,700,000,000 of revenue**.  **[0001406587_2208559_3]**  The first quarter of 2026 is anticipated to be the lowest delivery quarter, with revenues in the second half of 2026 projected to be higher than the first half.  **[0001406587_2208559_3]** 
- In fiscal year 2025, Forestar invested approximately **$1,700,000,000** in land and land development, and its lot position at September 30 was **99,800 lots**.  **[0001406587_2208559_2]**  The company noted continued **affordability constraints and cautious consumer sentiment** as near-term headwinds for new home demand.  **[0001406587_2208559_1]** **[0001406587_2208559_3]**

Forestar Group (FOR)