Forestar Group’s 1Q revenue outcomes result in stock | Inventory Information
Investing.com — Residential lot developer Forestar Group (NYSE:) skilled a important decline in its stock worth, falling as a lot as 6.7% on Tuesday.
The drop got here after the company reported a disappointing fiscal first quarter revenue. Income for the company additionally confirmed a decline, falling 18% in comparison with the identical quarter within the earlier yr.
The quantity of heaps bought by the company additionally decreased. In the identical quarter of fiscal 2024, the company bought 3,150 heaps, however this quantity fell to 2,333 heaps in the latest quarter.
Looking forward to fiscal 2025, the company maintains its supply expectations. Forestar Group nonetheless plans to ship between 16,000 and 16,500 heaps during the fiscal yr.
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