Millrose Properties forecasts Q3 revenue above consensus estimate

Millrose Properties reported preliminary Q3 revenue of approximately $179.3 million, exceeding analyst expectations of $167.8 million, indicating strong financial performance.

In pre-market trading, the company's shares rose by 0.58% to $32.88, reflecting positive investor sentiment following the revenue announcement.

The estimated Adjusted Funds From Operations (AFFO) per share for the quarter is $0.74, which slightly surpasses the consensus estimate of $0.72, while net income is projected at $105.1 million.

Millrose Properties will release its complete quarterly results on October 23, providing further insights into its financial performance.

Recommendation Rating: Strong Performance Ahead

Millrose Properties (NYSE:MRP) reported preliminary revenue figures for the third quarter on Thursday, indicating an impressive estimate of approximately $179.3 million. This figure surpasses analyst expectations, which were set at $167.8 million.

In pre-market trading, shares experienced a modest increase of 0.58%, reaching $32.88.

The reported revenue encompasses income derived from option fees and development loans. Additionally, the company's estimated Adjusted Funds From Operations (AFFO) per share stands at $0.74 for the quarter, slightly exceeding the consensus estimate of $0.72.

On the financial front, net income is projected to be around $105.1 million, while homesite inventory and related assets are valued at approximately $8.7 billion. The invested capital is estimated to be around $8.2 billion, and the book value is approximately $35.29 per share.

Millrose Properties plans to disclose its complete quarterly results on October 23, prior to the market opening.