Filing Flows › Millrose Properties (MRP) › Q2 2026
Millrose Properties (MRP) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
Millrose Properties (MRP) reported revenue of $197M for the second quarter 2026 (Q2 2026), +32% from a year earlier and +1% from the quarter before. Operating margin was 85.2%, net earnings $126M (63.9% of revenue).
Millrose Properties, Q2 2026: revenue $197M (+32% year over year), operating margin 85.2%, net earnings $126M, operating cash flow $886M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $197M | +1% | +32% |
| Operating profit | $168M | +0.9% | +32% |
| Net earnings | $126M | +2% | +12% |
| Operating cash flow | $886M | +11% | -1% |
What changed
Revenue was $196.9M in Q2 2026, up 32% year over year and up 1% from the previous quarter.
Operating profit was $167.6M, a 85.2% margin (unchanged year over year). Of the extra revenue versus Q2 2025, 85% reached operating profit, above the 85% margin then. Total costs grew 32% against revenue growth of 32%. Net earnings were $125.9M, up 12% year over year. The effective tax rate was 1.9%.
Operating cash flow was $886.0M (down 1% year over year), 704% of net earnings. Non-cash charges added back $217K of share-based compensation. Working capital and other items added $759.9M.
Questions
What was Millrose Properties' revenue in the second quarter 2026?
Millrose Properties (MRP) reported revenue of $197M for the second quarter 2026 (Q2 2026), +32% from a year earlier and +1% from the quarter before.
Was Millrose Properties profitable in the second quarter 2026?
Operating profit was $168M (85.2% of revenue) and net earnings $126M.