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Forestar Group (FOR) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Apr 23, 2026
Forestar Group (FOR) reported revenue of $374M for the second quarter fiscal 2026 (Q2 FY26), +7% from a year earlier and +37% from the quarter before. Operating margin was 11.7%, net earnings $32.2M (8.6% of revenue).
Forestar Group, Q2 FY26: revenue $374M (+7% year over year), operating margin 11.7%, net earnings $32.2M, operating cash flow $152M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $374M | +37% | +7% |
| Operating profit | $43.9M | +111% | +8% |
| Net earnings | $32.2M | +109% | +2% |
| Operating cash flow | $152M | — | — |
What changed
Revenue was $374.3M in Q2 FY26, up 7% year over year and up 37% from the previous quarter.
Operating profit was $43.9M, a 11.7% margin (up 0.1 points year over year). Of the extra revenue versus Q2 FY25, 14% reached operating profit, above the 12% margin then. Total costs grew 6% against revenue growth of 7%. Net earnings were $32.1M, up 2% year over year. The effective tax rate was 26.7%.
Operating cash flow was $151.9M, 472% of net earnings. Non-cash charges added back $700K of depreciation and amortization and $3.1M of share-based compensation. Working capital and other items added $115.9M. Capital expenditures of $233.2M exceeded it, leaving free cash flow of −$81.3M.
Questions
What was Forestar Group's revenue in the second quarter fiscal 2026?
Forestar Group (FOR) reported revenue of $374M for the second quarter fiscal 2026 (Q2 FY26), +7% from a year earlier and +37% from the quarter before.
Was Forestar Group profitable in the second quarter fiscal 2026?
Operating profit was $43.9M (11.7% of revenue) and net earnings $32.2M.
Source: Forestar Group 10-Q on SEC EDGAR.