Millrose Properties, Inc. (NYSE: MRP) saw its stock surge 5.14% in pre-market trading on Wednesday following the release of its strong first-quarter 2025 financial results and raised guidance. The company, which recently spun off from Lennar Corporation in February 2025, reported earnings of $0.39 per diluted share for Q1, showcasing the strength of its Homesite Option Purchase Platform.

The real estate investment firm has increased its year-end quarterly earnings per share run-rate guidance to a range of $0.69 to $0.71, up from the previous $0.67 to $0.69, reflecting strong market demand for its services. Additionally, Millrose raised its full-year 2025 guidance for new transaction funding outside of the Lennar Master Program to $1.5 billion, up from the previously announced $1 billion, driven by heightened demand from homebuilders.

Millrose's CEO, Darren Richman, highlighted the company's strengthened capital position and expanded partnerships with other homebuilders, including five separate programmatic partnership commitments. These arrangements provide builders with defined capital availability under pre-negotiated terms, offering greater visibility in land planning. With total assets of $7.2 billion and liquidity of $1.1 billion, Millrose appears well-positioned to capitalize on growing opportunities in the residential real estate market.