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 impressive performance driven by high demand for its Homesite Option Purchase Platform.
For the first quarter ended March 31, 2025, Millrose reported net income of $64.8 million, or $0.39 per diluted share. This performance was primarily fueled by $82.7 million in option fees. The company's CEO, Darren Richman, highlighted the strong demand for their innovative platform and the progress made in expanding partnerships with other homebuilders.
In response to the heightened demand, Millrose has 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. Additionally, the company increased its year-end quarterly earnings per share run-rate guidance to a range of $0.69 to $0.71. This positive outlook, combined with the company's strong financial position, including total assets of $7.2 billion and liquidity of $1.1 billion, has likely contributed to investor enthusiasm and the pre-market stock surge.
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