The Motley Fool

APRIL 18, 2024

We continue to focus on capital efficiency to produce consistent, strong homebuilding operating cash flows and returns. Our capital efficient and flexible lot portfolio is a key to our strong competitive position. Forestar had approximately $800 million of liquidity at quarter end with a net debt to capital ratio of 16.4%.

Resale 130

Resale Securities and Exchange Commission (SEC) Taxes Capital 130

The Motley Fool

NOVEMBER 1, 2023

year-to-year decline, 160 basis points came from a reduced level of low-margin resale revenues, which was in line with our expectations. Free cash flow for the quarter was $91 million, benefiting from our continued focus on working capital management and a lower level of capex. Turning to capital deployment.

Resale 187

Resale Capital Taxes Assets 187

The Motley Fool

JULY 25, 2024

These tenants allow us to target the biggest piece of the potential homebuyer pool by effectively competing its resale inventory, not just in today's environment that favors builders but also when the resale market returns to historical averages. Now turning to Slide 9, this quarter, we successfully enhanced our capital structure.

Resale 130

Resale Securities and Exchange Commission (SEC) Leveraging Banks 130

The Motley Fool

DECEMBER 15, 2023

billion plus or minus of net cash flow over the next year, we have the flexibility to invest capital strategically and growth while retiring debt as it matures and repurchasing shares of Lennar stock, which we expect to repurchase at least $2 billion of stock over the next year. We're targeting a total capital allocation of at least 2.5

Resale 130

Resale Debt Assets Capital 130

The Motley Fool

FEBRUARY 4, 2025

year to year organically and services revenue was down approximately 7% and resale fell approximately 16%. 3Q resale was down approximately 2%, improving from steeper declines in recent quarters, and we continue to be selective on our resale opportunities based on deal economics. The book-to-bill ratio of 1.51

Resale 130

Resale Consulting Consultants Capital 130

The Motley Fool

AUGUST 8, 2024

While resale revenues performed as expected, down 28% year over year, services revenue declined 8% helped by higher-than-anticipated in-quarter volumes. The lower mix of resale revenue also contributed to the year-to-year margin improvement. Moving to GIS. Profit margin expanded over two points to 7.3%. The book-to-bill ratio was 0.67

Resale 130

Resale Consulting Consultants Accounting 130

The Motley Fool

OCTOBER 29, 2024

We remain focused on enhancing the capital efficiency of all of our operations to produce consistent, sustainable returns and cash flows so that we can return more capital to shareholders through share repurchases and dividends. Our capital-efficient and flexible lot portfolio is a key to our strong competitive position.

Resale 130

Resale Securities and Exchange Commission (SEC) Taxes Leveraging 130

The Motley Fool

AUGUST 6, 2024

Jeff DerGurahian -- Chief Capital Markets Officer Hey, Doug, this is Jeff DerGurahian. Jeff DerGurahian -- Chief Capital Markets Officer There's still a wide range of products and rates in the portfolio. And the most unsure part of the market has been the resale market just due to the availability of inventory. Please go ahead.

Debt 130

Debt Leveraging Resale Liabilities 130

The Motley Fool

SEPTEMBER 15, 2023

It seems that we have entered a phase of more measured adjustments in order to curtail inflation while the Fed shrinks its balance sheet by approximately $100 billion per month and engages other mechanisms to reduce capital in the market. debt to total capitalization, down from 13.3% Additionally, with our $3.9 I'm not sure.

Resale 130

Resale Assets Debt Capital 130

The Motley Fool

APRIL 11, 2024

The actions we are taking today will position us to capitalize disproportionately when the category returns to growth, which it will. We launched a new order management system that should further enhance customer satisfaction, improve delivery metrics around timeline expectations, and increase efficiency of working capital.

Resale 130

Resale Leveraging Capital Investing 130

The Motley Fool

MARCH 7, 2024

And finally, Q1 industrial resales of $215 million declined 6% year on year. In fiscal '24, we continue to expand industrial resales to be down high single digits year upon year. We spent $122 million on capital expenditures. Turning to capital allocation. Free cash flow in the quarter was $4.7

Resale 188

Resale Debt Banks Shareholders 188

The Motley Fool

JUNE 15, 2023

So, let me go ahead and begin by saying that we are quite pleased to report that the Lennar team has remained focused on production and pace, cash flow, inventory turns, and return on capital, and we have again produced strong and consistent results for the quarter. debt to total capital capitalization ratio, down from 14.2

Resale 130

Resale Assets Debt Capital 130

The Motley Fool

MAY 15, 2024

We can no longer support tying up precious working capital to secure inventory that produces no margin. And therefore, we are adjusting operations and overhead working to enhance margins and improve working capital within the segment based on our current economic outlook. And why were they up?

Assets 130

Assets Capital Resale Debt 130

The Motley Fool

NOVEMBER 5, 2024

As we look forward to a healthier and more normalized housing market, it is now time for the company to look forward to a new horizon and focus on capitalizing on our many opportunities to offer differentiated value propositions to our stakeholders. Jeff DerGurahian -- Chief Capital Markets Officer Hey, Doug, this is Jeff DerGurahian.

Leveraging 130

Leveraging Resale Financing Finance 130

The Motley Fool

JANUARY 23, 2024

We expect our housing inventory turns to improve in fiscal 2024 compared to fiscal 2023 and our ongoing focus on capital efficiency to produce strong homebuilding operating cash flows and consistent returns. Our capital-efficient and flexible lot portfolio is the key to our strong competitive position. billion, up 3% sequentially.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Resale Leveraging Taxes 130

The Motley Fool

JULY 30, 2024

Operator instructions] At this time, I would like to turn the call over to Joshua Fattor, executive vice president of investor relations and capital markets. million of capitalized interest charged cost of sales and $1.2 With that, I'll turn the call over to Josh for a discussion of our capital position. Please go ahead.

Leveraging 130

Leveraging Taxes Debt Resale 130

The Motley Fool

NOVEMBER 16, 2023

Our performance has kept the Children's Place brands in the leadership position on social media, representing close to 50% of total social impressions among our children apparel resale competitive set. Capital expenditures in Q3 were approximately $6 million. Moving on to cash flow and liquidity.

Securities and Exchange Commission (SEC) 188

Securities and Exchange Commission (SEC) Taxes Debt Resale 188

The Motley Fool

NOVEMBER 5, 2024

At this time, I'll turn the call over to Joshua Fattor, executive vice president of investor relations and capital markets. Given when we acquired these communities, the capital invested in their development, and the rising cost of replacement projects, their inherent value is substantial. You may begin. million or 12.8% of revenue.

Debt 130

Debt Capital Banks Resale 130

The Motley Fool

DECEMBER 7, 2023

Industrial resales were 962 million. In fiscal '24, we expect industrial resales to be down low single digits year on year. We spent 105 million on capital expenditures. We spent 452 million on capital expenditures, and free cash flow grew 8% year on year to 17.6 Now, turning to capital allocation.

Resale 130

Resale Banks Assets Shareholders 130

The Motley Fool

AUGUST 1, 2024

More importantly, we are just beginning to implement drilling unit design and operational changes that we expect will create substantial value in the Callon acreage via improved well performance and capital efficiency. Egypt also had a very good quarter and is beginning to deliver significant capital efficiency improvements.

Capital 130

Capital Taxes Debt Assets 130

The Motley Fool

JULY 20, 2023

We are focused on consolidating market share by supplying more homes to meet homebuyer demand, while maximizing the returns and capital efficiency each of -- in each of our communities. Our capital-efficient and flexible lot portfolio is a key to our strong competitive position. Forestar is separately capitalized from D.R.

Banks 130

Banks Securities and Exchange Commission (SEC) Leveraging Taxes 130

The Motley Fool

FEBRUARY 2, 2024

Before I move on to our financial results and guidance, a brief update on our recent real estate and capital markets activity. Operator The next question will come from Brad Heffern with RBC Capital Markets. Brad Heffern -- RBC Capital Markets -- Analyst Hi, everyone. Brad Heffern -- RBC Capital Markets -- Analyst OK, thank you.

Debt 130

Debt Taxes Capital Assets 130

The Motley Fool

APRIL 26, 2024

During the spring selling season with a healthy supply of move-in ready inventory, we were able to capitalize on strong market conditions generated by the increasing need for housing for millennials and Gen Zs as well as the move-down Baby Boomers who continue to find our limited inventory, limited availability of resale housing supply.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Leveraging Finance Financing 130

The Motley Fool

FEBRUARY 1, 2024

As we previously discussed, two of the largest population cohorts, the millennials and recently Gen Zs are having life events lean to increased levels of need-based housing that currently cannot be met by the constrained resale of home supply in the market. billion in capital spend activities, comprised of $1.9 We also generated $355.6

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Leveraging Finance Financing 130

The Motley Fool

AUGUST 3, 2023

and Egypt, a reduction in year-over-year per unit LOE and G&A costs, working capital improvements in Egypt, and the appraisal of Krabdagu in Suriname. We are committed to our shareholder returns framework and to allocating capital for the long-term benefit of investors. We are also reducing our full-year LOE outlook from $1.5

Capital 100

Capital Shareholders Banks Resale 100

The Motley Fool

SEPTEMBER 12, 2024

As Keith will review, we intend to continue to operate and deploy capital with discipline, focused on delivering long-term sustainable profitable growth that should create value for all of our stakeholders. Plus, we're primed to capitalize on the category rebound as soon as it happens and in more real time than our peers.

Leveraging 130

Leveraging Financing Finance Capital 130

The Motley Fool

AUGUST 3, 2023

Turning to capital. In 2023, we now expect total capital expenditures to be approximately $1.2 We remain dedicated to our disciplined approach to capital allocation as we are funding our growth objectives, while continuing to drive meaningful shareholder returns. Jon Atkin -- RBC Capital Markets -- Analyst Thank you.

Leveraging 100

Leveraging Assets Capital Resale 100

The Motley Fool

AUGUST 1, 2023

And lastly, the resale home market remains tight as existing buyers are hesitant to leave their low rate mortgages, which limits available inventory and helps to increase new home demand. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Taxes Resale Banks 130

The Motley Fool

FEBRUARY 27, 2024

million annual resale transactions in time. Free cash flow during the fourth quarter was negative 41 million, which compares favorably to negative $131 million of free cash flow in the year-ago quarter driven primarily by the improvement in adjusted EBITDA, lower capital expenditures, and other favorable changes in working capital.

Resale 100

Resale Public Companies Capital Companies 100

The Motley Fool

FEBRUARY 27, 2024

Chris Nielsen -- Chief Financial Officer Yes, the short answer to your question is we do feel good about our capital position. So again, we feel like we've got plenty of capital to manage the business here. And then also -- are you -- is the business position where you can capitalize on refi as that comes back as well?

Securities and Exchange Commission (SEC) 100

Securities and Exchange Commission (SEC) Banks Resale Legal 100

The Motley Fool

OCTOBER 30, 2024

Any move higher in rates will likely hurt our competitors more than Compass, as they don't have the capital, technology and operational resources to scale in markets like the one we are in today, which will allow us to continue to gain share and increase our pipeline of M&A opportunities at favorable economics.

Legal 130

Legal Prospects Leveraging Resale 130

The Motley Fool

FEBRUARY 26, 2024

In addition, we expect FY '25 capital expenditures of approximately $330 million. And you've got a slew of new products, you've got an expanded partnership strategy, you've got resale -- reseller partnership strategy as well. We expect FY '25 operating cash flow of $2.25 The Motley Fool has positions in and recommends Workday.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Professional Services Education Banks 130

The Motley Fool

AUGUST 16, 2023

The second bucket is that we have scaled back certain lower margin revenue streams, including some of the resale businesses within cloud, including the live streaming entertainment that I referred to earlier, at Tencent Music and Huya. So, that's one bucket. The Motley Fool has positions in and recommends Tencent.

Accounting 130

Accounting Leveraging Consulting Consultants 130

The Motley Fool

AUGUST 31, 2023

Finally, Q3 industrial resales of $236 million declined 3% year on year, reflecting weak demand in China. And in Q4, though, we expect an improvement with industrial resales up low single-digit percentage year on year, reflecting largely seasonality. We spent $122 million on capital expenditures. Turning to capital allocation.

Mergers and Acquisitions 246

Mergers and Acquisitions Resale Banks Legal 246

The Motley Fool

JANUARY 19, 2024

We significantly reduced working capital by a total of about $600 million on a sequential quarterly basis, and this includes the benefit from a partial reduction of our inventory levels. In a variety of cases, we also simplified and improved our product offering, allowing us to reduce complexity and drive down working capital.

Leveraging 130

Leveraging Resale Taxes Capital 130

The Motley Fool

NOVEMBER 7, 2024

Moving on to cash flow and capital allocation. In conclusion, I'm happy to report another quarter of solid execution, which leaves us well-positioned to capitalize the upcoming market growth opportunity when the real estate market turns and recover positively. resale -- 3.8 million compared to $2.3

Resale 130

Resale Accounting Investors Education 130

The Motley Fool

SEPTEMBER 11, 2024

As we head into the fall season, we are maintaining our disciplined inventory allocations, which we believe will enable us to be less reliant on promotions to sell through inventory and capitalize on any momentum shifts we may see, though we still expect IMU to be a continued headwind as our athletic inventory expands.

Taxes 130

Taxes Leveraging Consulting Consultants 130