Millrose Properties Exceeds Q3 Estimates and Raises FY26 Outlook
Millrose Properties (MRP) reported third-quarter financial results that surpassed analyst expectations for both revenue and Funds From Operations (FFO). The company achieved a Q3 FFO of $0.80 per share, beating estimates by $0.03, while total revenue rose 17.7% year-over-year to $211 million, exceeding projections by $5.1 million. Following the strong quarterly performance, Millrose Properties raised its fiscal year 2026 guidance. The company now expects an Adjusted Funds from Operations (AFFO) quarterly run rate in the range of $0.82 to $0.84 per share. This upward revision reflects management's confidence in sustained growth and operational efficiency.
Topics: debt issuance FFO beat guidance raise revenue growth