Earnings ·
Millrose Reports Q3 Net Income of $130M, Authorizes $250M Share Repurchase Program
MRPMillrose Properties, Inc.
Millrose Properties reported third-quarter net income attributable to common shareholders of $130 million, or $0.78 per share, driven by $211 million in total revenues from option fees and development loan income. Adjusted Funds From Operations (AFFO) reached $133.5 million, or $0.80 per share, marking the sixth consecutive quarterly increase. The company raised its fourth-quarter AFFO outlook to a range of $0.82 to $0.84 per share. Additionally, the Board authorized a new $250 million share repurchase program for Class A common stock. Millrose operates as a homesite option platform providing capital solutions and land development financing for residential homebuilders.