Forestar Group Inc. (FOR) SEC Filings & Earnings Calls

Dependence on D.R. Horton

“D.R. Horton owned approximately 62% of our outstanding common stock.” · word for word

Affordability-driven demand slowdown

“During the third quarter, new home demand continued to be impacted by ongoing affordability constraints and cautious consumer sentiment.” · word for word

Development cost inflation

“development costs remain elevated” · word for word

Municipal approval delays

“delays in receiving the necessary approvals from municipalities are still extending development cycle times in certain markets” · word for word

Affordability constraints and cautious consumer sentiment may pressure future lot sales.

“Management cited 'continued affordability constraints and cautious consumer sentiment' as headwinds.”

Dependence on D.R. Horton for a significant portion of lot sales; sales to other customers declined.

“Lots sold to customers other than D.R. Horton decreased from 530 to 289 in Q3.”

Affordability constraints reducing demand

“During the second quarter, new home demand continued to be impacted by ongoing affordability constraints and cautious consumer sentiment.” · word for word

Dependence on D.R. Horton

“Residential lots sold to D.R. Horton 2,450; to customers other than D.R. Horton 488 in Q2 2026.” · word for word

Elevated development costs

“development costs remain elevated.” · word for word

Affordability constraints and cautious consumer sentiment impacting lot sales volume.

“ongoing affordability constraints and cautious consumer sentiment that continue to impact the pace of new home sales.” · word for word

Dependence on D.R. Horton for a significant portion of lot sales; sales to other customers declined sharply.

“Lots sold to customers other than D.R. Horton in the prior year quarter included 362 lots that were sold to a lot banker who expects to sell those lots to D.R. Horton at a future date.” · word for word

Affordability-Driven Demand Slowdown

“During the first quarter, new home demand continued to be impacted by ongoing affordability constraints and cautious consumer sentiment.” · word for word

Elevated Development Costs

“delays in receiving the necessary approvals from municipalities are still extending development cycle times in certain markets, and development costs remain elevated.” · word for word

Customer Concentration (D.R. Horton)

“D.R. Horton owned approximately 62% of the Company's outstanding common stock.” · word for word

Litigation Risk

“On April 29, 2025, a verified stockholder of the Company filed a derivative complaint in the Delaware Court of Chancery, on behalf of the Company, against D.R. Horton, Inc., the Company’s Executive Chairman, and certain of the Company’s directors.” · word for word

Interest Rate Sensitivity

“Homebuilders have continued to offer elevated levels of sales incentives, such as mortgage rate buydowns, to address affordability and spur the demand for new homes.” · word for word

Affordability constraints and cautious consumer sentiment impacting lot sales pace

“Ongoing affordability constraints and cautious consumer sentiment that continue to impact the pace of new home sales.” · word for word

Dependence on D.R. Horton for significant portion of lot sales; 28% of owned lots subject to right of first offer to D.R. Horton

“Another 18,100 lots, or 28%, of the Company's owned lots were subject to a right of first offer to D.R. Horton based on executed purchase and sale agreements at December 31, 2025.” · word for word

Dependence on D.R. Horton

“D.R. Horton owned approximately 62% of our outstanding common stock. ... During fiscal 2025, we sold 11,751 residential lots to D.R. Horton for approximately $1.3 billion.” · word for word

Concentrated Customer Base

“15% of the homes D.R. Horton started this year were on a Forestar developed lot.” · word for word

Cybersecurity Risk

“To our knowledge, the Company has not experienced a material cybersecurity incident within the last three years.” · word for word

Dependence on D.R. Horton

“Lots sold to D.R. Horton totaled 11,751 compared to 13,267.”

Margin compression

“Forestar’s pre-tax income was 13.2% of revenues compared to 17.9%.”

High leverage and debt service costs

“our consolidated debt was $802.7 million, including $300 million principal amount of 5.0% senior notes due 2028 and $500 million principal amount of 6.5% senior notes due 2033.” · word for word

Affordability constraints and cautious consumer sentiment may impact new home demand.

“Demand for finished lots is solid despite the continued impact of ongoing affordability constraints and cautious consumer sentiment on new home demand.” · word for word