Filing Flows › Millrose Properties (MRP) › Q3 2026
Millrose Properties (MRP) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 4, 2026
Millrose Properties (MRP) reported revenue of $211M for the third quarter 2026 (Q3 2026), +18% from a year earlier and +7% from the quarter before. Operating margin was 85.5%, net earnings $130M (61.6% of revenue).
Millrose Properties, Q3 2026: revenue $211M (+18% year over year), operating margin 85.5%, net earnings $130M, operating cash flow $875M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $211M | +7% | +18% |
| Operating profit | $180M | +8% | +18% |
| Net earnings | $130M | +3% | +24% |
| Operating cash flow | $875M | -1% | -5% |
What changed
Revenue was $211.0M in Q3 2026, up 18% year over year and up 7% from the previous quarter.
Operating profit was $180.5M, a 85.5% margin (up 0.3 points year over year). Of the extra revenue versus Q3 2025, 87% reached operating profit, above the 85% margin then. Total costs grew 16% against revenue growth of 18%. Net earnings were $130.0M, up 24% year over year. The effective tax rate was 3.6%.
Operating cash flow was $875.1M (down 5% year over year), 673% of net earnings. Non-cash charges added back $289K of share-based compensation. Working capital and other items added $744.8M.
Questions
What was Millrose Properties' revenue in the third quarter 2026?
Millrose Properties (MRP) reported revenue of $211M for the third quarter 2026 (Q3 2026), +18% from a year earlier and +7% from the quarter before.
Was Millrose Properties profitable in the third quarter 2026?
Operating profit was $180M (85.5% of revenue) and net earnings $130M.