Forestar Group Inc. (NYSE:FOR) Q1 2023 Earnings Call Transcript

Dan Bartok: Sequentially, gross margin came down a little bit this quarter, but it’s held up pretty well. Our pricing has held up well. We have lost operating leverage due to reduced volume. So we’ve certainly, have a higher SG&A as a percentage of revenue than we’d like. But as I said earlier, our SG&A expense was down 3% sequentially and has decreased for the last three quarters.

Katie Smith: Gross margin for this quarter is pretty much in line with what we expected.

Dan Bartok: Yes.

Doug Wardlaw: Great. Thank you.

Operator: We have reached the end of the question-and-answer session. And I will now turn the call over to Dan Bartok for closing remarks.

Dan Bartok: Thank you, John. Thank you to everyone on the Forestar team for your focus and hard work. I’m proud of the results the team achieved this quarter. We will stay disciplined, flexible and opportunistic as we continue to consolidate market share in fiscal 2023. We appreciate everyone’s time on the call today and look forward to speaking with you again in April to share our second quarter results. Thank you.

Operator: This concludes today’s conference and you may disconnect your lines at this time. Thank you for your participation.