Quarterly ResultAug 4, 2026, 04:09 PM
Millrose Properties Q2 Revenue +32.1%, Net Income +11.6%
AI Summary
Millrose Properties, Inc. reported strong financial results for the second quarter and first six months of 2026, with significant increases in revenue and net income compared to the prior year. The company's core business of purchasing and developing residential land for homebuilders through option contracts continues to drive growth. Millrose also highlighted its ongoing relationship with Lennar, which accounted for a substantial portion of its revenues, and its intention to elect REIT status.
Key Highlights
- Q2 2026 total revenues increased by 32.1% to $196.9 million.
- Q2 2026 net income rose by 11.6% to $125.9 million.
- Q2 2026 basic earnings per share increased by 11.8% to $0.76.
- Year-to-date 2026 total revenues grew by 69.1% to $391.8 million.
- Year-to-date 2026 net income increased by 63.1% to $248.8 million.
- Homesites under option contracts totaled $9.60 billion as of June 30, 2026.
- Debt obligations, net, stood at $2.48 billion as of June 30, 2026.
- Dividends declared for Q2 2026 were $0.77 per share.
Price Impact
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