Savvy Trades and Investments

[abh3vt]

Looking over the Q2 FOR report, in the CC they called out the unusually high GM in the Q:

"Our gross profit margin for the quarter was 24.9% compared to 18.5% for the same quarter last year. Gross margin this quarter was positively impacted by non-recurring revenue items with unusually high margins, including selling excess sewer capacity and a land contract assignment fee. Excluding the effects of these items in the prior-year impairment charges and unusually high-margin track sales, our second quarter gross profit margin would have been approximately 22.5% compared to approximately 23% for the prior-year quarter."

(Q1 also had a slight benefit too). The entirety of the earnings "beat" came from this non-recurring element in the GM.

They also have some difficult y/y comps coming up, and the forward estimates show flat to slightly negative eps growth going forward:
https://seekingalpha.com/symbol/FOR/earnings/estimates?period=quarterly

I think that's why the stock sold off fairly hard on what appeared to be a decent beat. They would have shown a slight drop in y/y eps otherwise.