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Forestar Group Inc. (NYSE:FOR) reported fiscal third-quarter 2026 results on Tuesday that came in below analysts' expectations, with both earnings and revenue missing consensus estimates.

The company posted adjusted earnings per share of $0.70, below the $0.81 forecast, while revenue reached $407.0 million compared with analyst expectations of $437.73 million.

Shares eased 1.06% in pre-market trading following the release.

Despite the earnings miss, Forestar delivered year-over-year growth across several key financial metrics.

Net income attributable to the company increased 9% to $35.9 million, or $0.70 per diluted share, compared with $32.9 million, or $0.65 per diluted share, in the same quarter last year.

Revenue rose 4% from $390.5 million to $407.0 million, while pre-tax income advanced 12% to $48.7 million. The company generated a pre-tax profit margin of 12.0% during the quarter.

Forestar also sold 3,659 residential lots, representing a 1% increase from the 3,605 lots delivered in the corresponding period of fiscal 2025.

Management left its fiscal 2026 guidance unchanged, continuing to forecast lot deliveries of between 14,000 and 14,500 and full-year revenue in the range of $1.6 billion to $1.7 billion.

"The Forestar team delivered solid third quarter results, including a 4% increase in revenues to $407.0 million and a 12% increase in pre-tax income to $48.7 million," said Donald J. Tomnitz, Chairman of the Board.

Forestar finished the quarter with total liquidity of $1.1 billion, including $394.9 million in unrestricted cash and $669.9 million of available borrowing capacity.

The company's net debt-to-total capital ratio was 17.7% at quarter end.

Forestar also reported ownership or control of approximately 91,700 lots, including 23,500 lots under contract that represent an estimated $2.3 billion in future revenue, providing visibility into its long-term development pipeline.

Forestar Group stock price