Chad Stout Joins Universal Parking as General Manager at New Houston Office
ATLANTA, June 02, 2025--(BUSINESS WIRE)--Universal Parking, a leading innovator in the parking industry, today announced the hire of Chad Stout as general manager of the company's new Houston office. Stout brings nearly 30 years of parking industry experience to his role at Universal Parking and will oversee operations at the new Houston office, which is poised for growth.
Stout began his career in the parking industry working as a valet in college before moving on to Brookfield Properties in Charlotte, N.C., where he managed more than 20 parking locations. He also previously held positions at Central Parking and Metropolis Parking in Houston.
"I am honored to take on this new role for Universal Parking," said Stout. "Houston has been great to my family and me, and I look forward to growing the market here."
Houston is an area with great growth potential for Universal Parking, as the parking landscape is more expansive than most cities. Parking facilities are centralized around the downtown area, with additional market opportunities around key locations such as the Galleria, Medical Center and Galveston. With the addition of special event parking, like the 2026 FIFA World Cup, there is no shortage of potential for expansion.
Delivering innovative, full-service solutions, Universal Parking is revolutionizing the parking experience through best-in-industry customer service and technology-enabled services. It supports parking facility management, including operations, facility maintenance, equipment installation and support, customized accounting, auditing, and reporting. In addition, Universal Parking provides professional recruiting, staffing, and training for parking attendants, as well as design and functional review services, ensuring every aspect of a parking facility is optimized for performance and efficiency.
"Houston is an exciting new market for Universal Parking," said Tim Walsh, President and CEO at Universal Parking. "Chad knows the complexities of the Houston market, and he is the right person to lead our expansion."
To learn more about Universal Parking and the projects it supports, visit universalparking.com.
About Universal Parking
Universal Parking provides tailored parking management services on behalf of property owners and asset managers. With a leadership team boasting over 175 years of combined experience, Universal Parking specializes in operating complex and diverse parking facilities while leveraging technology and customer-focused strategies to enhance the parking experience.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250602900698/en/
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Consolidated Statements of Operations (Unaudited) Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 2025 2024 (In millions, except per share amounts) Revenues $ 390.5 $ 318.4 $ 991.9 $ 958.0 Cost of sales 310.8 246.9 778.0 730.6 Selling, general and administrative expense 37.4 29.3 111.8 86.5 Equity in earnings of unconsolidated ventures — — (0.6 ) — Gain on sale of assets — (5.0 ) — (5.0 ) Interest and other income (1.3 ) (4.4 ) (4.6 ) (15.7 ) Loss on extinguishment of debt — — 1.1 — Income before income taxes 43.6 51.6 106.2 161.6 Income tax expense 10.7 12.9 25.2 39.8 Net income $ 32.9 $ 38.7 $ 81.0 $ 121.8 Basic net income per common share $ 0.65 $ 0.76 $ 1.59 $ 2.42 Weighted average number of common shares 50.9 50.8 50.8 50.3 Diluted net income per common share $ 0.65 $ 0.76 $ 1.59 $ 2.40 Adjusted weighted average number of common shares 51.0 51.1 51.0 50.7 Expand FORESTAR GROUP INC. Revenues, Residential Lots Sold and Lot Position REVENUES Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 2025 2024 (In millions) Residential lot sales: Development projects $ 373.4 $ 295.7 $ 953.3 $ 922.3 Lot banking projects 10.9 10.3 24.1 11.0 (Increase) decrease in contract liabilities (1.3 ) (0.2 ) (0.1 ) 2.6 383.0 305.8 977.3 935.9 Deferred development projects — 0.5 — 3.5 383.0 306.3 977.3 939.4 Tract sales and other 7.5 12.1 14.6 18.6 Total revenues $ 390.5 $ 318.4 $ 991.9 $ 958.0 RESIDENTIAL LOTS SOLD Three Months Ended June 30, Nine Months Ended June 30, 2025 2024 2025 2024 Development projects 3,524 3,163 9,149 9,593 Lot banking projects 81 92 200 101 3,605 3,255 9,349 9,694 Average sales price per lot (1) $ 106,600 $ 94,000 $ 104,500 $ 96,300 LOT POSITION June 30, 2025 September 30, 2024 Lots owned 68,300 57,800 Lots controlled under land and lot purchase contracts 34,000 37,300 Total lots owned and controlled 102,300 95,100 Owned lots under contract to sell to D.R. Horton 24,200 20,500 Owned lots under contract to customers other than D.R. Horton 1,500 500 Total owned lots under contract 25,700 21,000 Owned lots subject to right of first offer with D.R. Horton based on executed purchase and sale agreements 18,500 17,200 Owned lots fully developed 10,000 6,300 Expand _____________ (1) Excludes any impact from change in contract liabilities. Expand
