Second Quarter 2014 Financial Results August 6, 2014 Growing Forward Through Strategic and Disciplined Investment and Increasing Returns
On Track to Deliver Growing FORward Strategic Initiatives Initiatives Q2 2014 Results Accelerating total segment EBITDA and Total segment EBITDA of 47 million return on assets up 150% vs. Q2 2013 Growing through strategic and…
Accelerating Real Estate and Oil and Gas Segment Earnings Total Segment Earnings Up Almost 200% in Q2 2014 vs. Q2 2013 2nd Quarter 2nd Quarter ( in Millions, except per share data) 2014 2013 Net Income 14.8 0.5 Earnings Per Share…
Improving Financial Strength and Liquidity While Executing Growth Strategy Q2 2014 YE 2013 Q2 2014 Debt Maturity Schedule ( in Millions) Actual Actual Credit Facility Borrowings --- 200 250 8.50% Senior Secured Notes 250 --- Convertible…
Real Estate Second Quarter 2014 Highlights Building Momentum By Accelerating Real Estate Sales and Building a Solid Multifamily Pipeline 6
Real Estate Results Reflect Stable Demand and Forestars Ability to Deliver Segment Earnings Reconciliation Q2 2014 Highlights Q2 2013 vs. Q2 2014 ( in millions) Residential Lots 537 lots Up almost 50% vs Q2 2013 40 Average 64,100…
Real Estate Capitalizing on Well Located Communities, Low Inventories and Solid Job Growth Annual Lot Sales & Avg. Lot Margin Texas Finished Vacant Inventory and MoS** 30,000 3.50 3.00 2006 Peak Sales = 3,600 lots 25,000 2.50…
Ironstob Conversion Value Creation 2007 Joint venture formed (Forestar 58% interest) with partial sale of 6,900 acres as conservation land Q2 2014 Converted over 10,000 acres of timber rights for ownership of 5,400 acres of…
Building Solid Pipeline of Multifamily Development Opportunities (Proforma) Proforma Project Cash Flows Expected Forestar ( in millions) Cash Flows Total Expected FOR % FOR Development Project FOR Total Cash Project Market…
Capitalizing on Well Located Communities, Low Inventories and Forestars Ability to Deliver Forestar Real Estate Revenues (Excluding Timberland & Multifamily Revenues) 50 50.0 Accelerating Value Realization Driving residential lot…
Other Natural Resources Second Quarter 2014 Highlights Building Momentum Through Sustainable Harvests and Delivering Economic Water Solutions 12
Other Natural Resources Segment Results Segment Earnings Reconciliation Q2 2013 vs. Q2 2014 Q2 2014 Highlights ( in millions) Signed amended groundwater reservation agreement, generating 0.7 3.0 million in earnings 0.3 0.7 2.1…
Oil and Gas Second Quarter 2014 Highlights Building Momentum By Driving Leasing and Exploration to Increase Production and Reserves 14
Investments and Asset Sales Drive Higher EBITDAX Segment Earnings Reconciliation Q2 2013 vs. Q2 2014 ( in millions) 4.0 Q2 2014 Highlights 14.0 12.0 Working interest volume up 56% vs. Q2 2013 Segment Earnings 10.0 5.7 9.5…
Drilling and Completion Investments Driving Production Growth and Improved EBITDAX Quarterly Oil & Gas Production Quarterly Oil & Gas EBITDAX 250,000 16,000 14,000 * 200,000 12,000 10,000 in thousands BOE 150,000…
Initial Production Rates and Well Performance Improving Bakken / Three Forks Legend Bakken / Three Forks Play Area Fort Berthold Forestar Spacing Unit Forestar Undeveloped Leases Forestar HBP Leases Forestar Bakken Well Forestar…
Bakken / Three Forks Drilling Activity Investment and Value Realization Producing Wells** Bakken / Three Forks Leasehold Interests 140 +46 120 100 2014 Producing Wells +44 80 Producers Added During Q1 2014 3 60 40 +25…
Accelerating Value Realization and Growing Net Asset Value Forestar Oil and Gas Revenues Forestar Oil & Gas Segment Earnings ( in millions) ( in millions) 30 350 25 300 Production (Mboe) 250 Total Revenues 20 200 15…
Strategic Initiatives Update Building Momentum By Accelerating Value Realization, Optimizing Transparency and Growing Net Asset Value 20
Growing FORward Initiatives on Track Growing Long-Term Shareholder Value Increasing Returns Delivering Value Through Execution of Strategic Initiatives 2016 Targets: Total Segment EBITDA of 200 million YTD Q2 2014 Results Return on…
Second Quarter 2014 Financial Results For questions, please contact: Anna Torma SVP Corporate Affairs Forestar Group Inc. 6300 Bee Cave Road Building Two, Suite 500 Austin, TX 78746 512-433-5312 annatormaforestargroup.com 22
Second Quarter 2014 Financial Results Second Quarter 2014 Appendix - Segment KPIs - Earnings Reconciliations - Reconciliation of Non-GAAP Financial Measures 23
Real Estate Segment KPIs Q2 Q2 YTD Q2 YTD Q2 2014 2013 2014 2013 Residential Lot Sales Lots Sold 537 360 1,511 806 Average Price / Lot 64,100 57,600 50,200 54,400 Gross Profit / Lot 27,400 24,600 20,200 22,700 Commercial Tract…
Oil and Gas Segment KPIs Q2 Q2 YTD Q2 YTD Q2 2014 2013 2014 2013 Fee Leasing Activity Net Fee Acres Leased 1,380 515 3,121 825 Avg. Bonus / Acre 352 343 347 333 Total Oil and Gas Interests* Oil Produced (Barrels) 225,300…
Other Natural Resources Segment KPIs Q2 Q2 YTD Q2 YTD Q2 2014 2013 2014 2013 Fiber Sales Pulpwood Tons Sold 58,200 128,100 86,400 248,700 Average Pulpwood Price / Ton 11.42 8.66 10.85 9.19 Sawtimber Tons Sold 49,600 56,900 78,500…
Second Quarter 2014 Earnings Reconciliation Net Income Reconciliation Net Income Per Share Reconciliation Q2 2013 vs. Q2 2014 Q2 2013 vs. Q2 2014 ( in millions) 20.0 0.7 0.50 3.4 0.02 15.0 14.8 0.40 0.08 12.5 (1.1) (1.0) 0.34…
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) Forestars Oil and Gas Segment EBITDAX is a non-GAAP financial measure within the meaning of Regulation G of the Securities and Exchange Commission. Non-GAAP financial measures…
Second Quarter 2014 Financial Results For questions, please contact: Anna Torma SVP Corporate Affairs Forestar Group Inc. 6300 Bee Cave Road Building Two, Suite 500 Austin, TX 78746 512-433-5312 annatormaforestargroup.com 30
Loading...
