Quarterly ResultMay 6, 2026, 04:22 PM
Millrose Properties Q1 Net Income +90% to $122.9M; EPS $0.74
AI Summary
Millrose Properties reported a strong first quarter for 2026, with net income attributable to common stockholders increasing by nearly 90% to $122.9 million and basic EPS reaching $0.74. Total revenues more than doubled, driven by significant growth in both option fee revenues and development loan income. The company also saw an increase in its homesites under option contracts and declared a dividend of $0.76 per share.
Key Highlights
- Net income attributable to common stockholders increased 89.7% to $122.9 million for Q1 2026.
- Basic earnings per share rose 89.7% to $0.74 for the three months ended March 31, 2026.
- Total revenues surged 135.7% to $194.9 million, up from $82.7 million in Q1 2025.
- Option fee revenues grew 131.4% to $185.3 million in Q1 2026.
- Development loan income increased 267.5% to $9.6 million for the quarter.
- Homesites under option contracts increased to $9.18 billion as of March 31, 2026, from $8.87 billion.
- Debt obligations, net, rose to $2.42 billion from $2.11 billion at December 31, 2025.
- The company declared a dividend of $0.76 per share for the quarter.
Price Impact
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