Forestar (FOR)2025-01-21 18:48Financial Performance - Net income for Q1 fiscal 2025 decreased 57% to 0.32 per diluted share, compared to 0.76 per diluted share in Q1 fiscal 2024[4]. - Revenues totaled 305.9 million in the same quarter of fiscal 2024, reflecting a decrease in lots sold by 26% to 2,333 lots[4][6]. Assets and Liquidity - The company's lot position at December 31, 2024, was 106,000 lots, with 68,300 owned and 37,700 controlled through contracts, including 25,200 lots under contract to be sold, representing approximately 132.0 million of unrestricted cash and 644.5 million in liquidity[9]. - Debt at December 31, 2024, totaled 2.0 billion in land acquisition and development in fiscal 2025[11]. - The company plans to deliver between 16,000 and 16,500 lots in fiscal 2025, generating projected revenues of 1.65 billion[11]. - Forestar's strong balance sheet and liquidity position the company for growth opportunities in the homebuilding industry amid a shortage of finished lots[12]. Shareholder Metrics - Return on equity was 12.0% for the trailing twelve months ended December 31, 2024, with book value per share increasing 13% to 105,500 in Q1 fiscal 2025 from $96,400 in Q1 fiscal 2024[23].