Millrose Properties, Inc. Class A (MRP) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

gentlemen, thank you for standing by. At this time, I would like to welcome everyone to the Millrose Properties first quarter 2025 earnings results conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. To withdraw your question, press star one again. We kindly ask that you please limit your questions to one and one follow-up. If you have additional questions, please return to the queue. I will now turn the call over to Jesse Ross, Milrose Head of Financial Planning and Analysis. Jesse, you may begin the conference. Good morning, everyone, and thank you for joining us for Milrose Properties' first earnings call as a publicly traded company, following our spinoff from Lenard Corporation on February 7th. With us today to discuss our first quarter 2025 results are Darren Richmond, our Chief Executive Officer and President, Robert Nitkin, our Chief Operating Officer, and Garrett Rosenblum, our Chief Financial Officer. Before we begin, I'd like to remind everyone that this call may include forward-looking statements and discuss non-GAAP financial measures. It should be noted that a variety of factors could cause actual results to differ materially from the anticipated results or expectations expressed in these forward-looking statements. Please refer to the first quarter 2025 financial and operational results announced as well as the first quarter investor presentation we released and posted on our website under the investor relations heading for a discussion of forward-looking statements and reconciliations of non-GAAP financial measures. With th...