Every 10-Q that Millrose Properties, Inc. (MRP) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MRP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MRP filings page.
Millrose Properties, Inc., which buys and develops residential land and sells finished homesites via option contracts, reported for the quarter ended June 30, 2026 total revenues of $196,853 (thousands), up from $149,002 (thousands) a year earlier. Option fee revenues were $195,400 (thousands). Net income rose to $125,881 (thousands), or basic and diluted EPS of $0.76, compared with $112,760 (thousands), or $0.68 per share, in the prior-year quarter.
For the first six months of 2026, revenues were $391,781 (thousands) and net income was $248,765 (thousands), versus $231,700 (thousands) and $152,566 (thousands) in 2025. At June 30, 2026, homesites under option contracts were $9,603,735 (thousands) within total assets of $9,707,302 (thousands); debt obligations totaled $2,518,000 (thousands) and builder deposits $999,761 (thousands). A new unsecured $1.335 billion revolving credit facility and $500 million delayed draw term loan facility replaced the prior secured revolver. Future land development commitments were $6.9 billion, about 74% related to Lennar counterparties. Millrose paid increasing quarterly dividends, including $0.77 per share declared in June 2026, and plans to elect REIT tax status for 2025.
Millrose Properties, Inc. generated strong growth in the three months ended March 31, 2026, with total revenues of $194.9 million, up from $82.7 million a year earlier. Option fee revenues more than doubled to $185.3 million, while development loan income rose to $9.6 million.
Net income increased to $122.9 million, compared with $39.8 million, driving basic and diluted earnings per share of $0.74 versus $0.39. Homesites under option contracts reached $9.18 billion of carrying value, supporting a single land‑focused segment concentrated in 904 communities and about 143,000 homesites across 30 states.
Millrose ended the quarter with $9.57 billion in total assets, $2.46 billion of debt and $5.85 billion of stockholders’ equity. It put in place an unsecured credit agreement with a $1.335 billion revolving credit facility and a $500 million delayed draw term loan maturing in 2030, and declared a $0.76 per‑share dividend to be paid in April 2026.
Millrose Properties (MRP) reported its first post–spin-off quarter with solid profitability. Q3 revenue was $179.3 million, driven mainly by option fee revenue of $170.3 million and $8.9 million of development loan income. Net income was $105.1 million, or $0.63 per diluted share. For the nine months ended September 30, 2025, revenue totaled $411.0 million and net income was $257.6 million, or $1.70 per diluted share.
Following the February 2025 spin-off from Lennar, the company scaled its platform, ending Q3 with inventories of $8.36 billion, cash of $242.6 million, and builder deposits of $874.3 million. Millrose financed growth with two unsecured offerings: $1.25 billion 6.375% notes due 2030 and $750 million 6.250% notes due 2032, and repaid its DDTL facility. Interest expense was $43.7 million in Q3, including $11.9 million of accelerated issuance cost amortization. Revenue is concentrated with Lennar, representing 84% of Q3 option fee revenue. Shares outstanding as of October 23, 2025 were 154,183,686 Class A and 11,819,811 Class B.