Second Quarter 2015 Financial Results August 5, 2015
Focused On Increasing Net Asset Value By Growing Core Real Estate Business and Executing Strategic Initiatives Strategic and Disciplined Investment in Residential and Mixed-Use Communities Developing Portfolio of Core Multifamily…
Second Quarter 2015 Financial Results Impacted By Non- Cash Charges Related To Non-Core Oil and Gas Assets Q2 Q2 ( in Millions, except per share data) 2015 2014 Net Income (Loss) - As Reported (34.5) 14.8 Earnings (Loss) Per Share -…
Oil and Gas Segment Results Adversely Impacted By Non- Cash Charges Related to Non-Core Assets Q2 2015 Q2 2015 Excluding Q2 2014 ( in Millions, except per share data) As Reported Special Items* As Reported Segment Earnings (Loss)…
Midtown Cedar Hill, Texas
Excluding Second Quarter 2014 Non-Cash Gains Real Estate Segment Results Reflect Stable Market Demand Segment Earnings Reconciliation Q2 2015 Activity Q2 2014 vs. Q2 2015 Residential Lots 519 lots ( in millions) 40 73,400 avg.…
Stable Market Demand in Texas Supported By Low Inventories and Favorable Job Growth Texas New Home Inventory Below Equilibrium Forestar Lot Sales By Market YTD Q2 2015 30,000 3.50 3.00 Market Lot Sales Average Price New Home…
Lot Sales Activity Supported By Stable Market Demand and Low Housing Inventories Lots Under Option Contracts Highest Since Q1 2014 Full Year 2015 Lot Sales Activity 2015 total lot sales expected to be in the range of 1,800 1,900…
Multifamily Markets Remain Undersupplied Following Housing Downturn, Driving Demand In Our Target Markets U.S. Housing Starts 1,800 1,500 Multifamily 1,200 Construction Shortfall 2009 May 2015 = 900 500,000 Units 600…
Growing Net Asset Value By Developing Solid Portfolio of Well Located Class A Multifamily Projects Multifamily Development Projects Q2 2015 ( in millions) Projected Total Projected FOR % Development Total FOR Project Market…
Investing In Solid Multifamily Development Opportunities Expected To Generate Recurring Cash Flows Music Row Preliminary Renderings Music Row Nashville, Tennessee 230-unit Class A luxury multifamily project with extensive amenities…
Music Row Project Located in Strong Nashville Submarket With Strong Employment, Occupancy and Rent Growth Nashville Growth Above U.S. Average June 2015 Nashville U.S. Avg. Job Growth 3.6% 2.1% Occupancy 96.3% 95.2% Rent Growth 5.1%…
Investing In Solid Multifamily Development Opportunities Expected To Generate Recurring Cash Flows Dillon Charlotte, North Carolina Dillon Preliminary Renderings 379-unit Class A luxury multifamily project with extensive amenities…
Dillon Project Located in Strong Charlotte Submarket With Strong Employment, Occupancy and Rent Growth Charlotte Job Growth Well Above U.S. Avg. June 2015 Charlotte U.S. Avg. Job Growth 3.3% 2.1% Occupancy 95% 95% Rent Growth…
Focused On Increasing Net Asset Value By Growing Core Real Estate Business FOR Share of Total Lot Gross Profit and Growing Net Asset Value Average Profit Per Lot ( in millions) Capitalizing on housing markets 60 40,000 Increasing…
East Texas
Harvesting Value From Timberland Segment Earnings (Loss) Reconciliation Q2 2015 Highlights Q2 2014 vs. Q2 2015 ( in millions) 0.2 million in revenues related to 2.5 0.2 amortization and termination of existing 2.1 Segment…
Bakken / Three Forks - North Dakota
Well Results, Lower Oil Price Forecasts and Execution of Strategic Initiatives Drive Non-Cash Charges Related To Non-Core Oil and Gas Assets Segment Earnings (Loss) Reconciliation Q2 2015 Highlights Q2 2014 vs. Q2 2015 ( in…
Harvesting Cash Flow From Oil and Gas Business By Significantly Lowering Capital Investments and Operating Costs Oil and Gas Segment Operating Expenses Execution of Strategic Initiatives: 2014 Actual vs. Target * ( in millions) 20…
Strategic Initiatives Update 22
Focused on Growing Core Real Estate Business and Increasing Net Asset Value Initiatives YTD 2015 Results Strategic and Acquired five community development sites for 24 million Disciplined Investments = 640 future residential lots…
Forestar Investor Conference in Nashville - November 18-19 CONFERENCE AGENDA November 18 Dinner Market Outlook Presentation Accommodations Available at Omni Hotel November 19 Presentations by Forestar Senior Management Tour of…
Other Natural Resources Segment KPIs Q2 Q1 YTD Q2 YTD Q2 2015 2014 2015 2014 Fiber Sales Pulpwood Tons Sold 36,000 58,200 63,500 86,400 Average Pulpwood Price / Ton 9.39 11.42 9.06 10.85 Sawtimber Tons Sold 19,300 49,600 39,400…
Oil and Gas Segment KPIs Q2 Q2 YTD Q2 YTD Q2 2015 ** 2014 2015 ** 2014 Fee Leasing Activity Net Fee Acres Leased 800 1,380 1,623 3,121 Average Bonus / Acre 254 352 297 347 Total Oil and Gas Interests * Oil Produced (Barrels)…
Second Quarter 2015 Real Estate Pipeline Developed In & Under Total Real Estate Undeveloped Entitlement Entitled Development Acres Undeveloped Land Owned 71,044 75,402 Ventures 4,358 Residential Owned 21,762 7,160 626 30,569…
Second Quarter 2015 Earnings Reconciliation Earnings Reconciliation Q2 2014 vs. Q2 2015 ( in millions) 20.0 2.1 0.6 0.3 14.8 Net Income (Loss) 0.0 (20.0) (43.2) (7.7) (1.4) (34.5) (40.0) Q2 2014 Share Based Interest,…
Reconciliation of Non-GAAP Financial Measures (Unaudited) Forestars Segment EBITDA is a non-GAAP financial measure within the meaning of Regulation G of the Securities and Exchange Commission. Non-GAAP financial measures are not in…
Reconciliation of Non-GAAP Financial Measures (Unaudited) In our second quarter and first six month 2015 earnings release and conference call presentation materials furnished to the Securities and Exchange Commission on Form 8-K on…
Reconciliation of Non-GAAP Financial Measures (Unaudited) In our second quarter and first six month 2015 earnings release and conference call presentation materials furnished to the Securities and Exchange Commission on Form 8-K on…
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