Forestar gains after better-than-expected Q2 results
20/04/2023 19:30
** Shares of residential lot developer Forestar Group Inc
FOR.N jump as much as 12% at $17.42 - hit near 1-yr high
** Co reported Q2 EPS of $0.54 vs estimate of $0.34,
according to Refinitiv data
** Co reported revenue of $301.5 mln, beating estimates
** Co expects to consolidate more market share in fragmented
and under-capitalized U.S. residential lot development industry
- Chairman
** However, co did not give annual guidance, citing market
uncertainty
** Stock had fallen 11.5% last year
(Reporting by Vedant Vinayak Vichare in Bengaluru)
((vedant.vinayakvichare@thomsonreuters.com))