Forestar Group Inc. Q2 Income Drops, Misses Estimates

(RTTNews) - Forestar Group Inc. (FOR) released a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $31.60 million, or $0.62 per share. This compares with $45.00 million, or $0.89 per share, last year.

Analysts on average had expected the company to earn $0.73 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 5.2% to $351.00 million from $333.80 million last year.

Forestar Group Inc. earnings at a glance (GAAP) :

-Earnings: $31.60 Mln. vs. $45.00 Mln. last year. -EPS: $0.62 vs. $0.89 last year. -Revenue: $351.00 Mln vs. $333.80 Mln last year.

"The company cut revenue guidance to $1.5 billion-$1.55 billion from $1.6 billion-$1.65 billion expected earlier"