Target Hospitality beats Q4 expectations, shares jump over 5% on strong outlook

Published 26/03/2025, 12:04
Target Hospitality beats Q4 expectations, shares jump over 5% on strong outlook

NEW YORK -Target Hospitality Corp. (NASDAQ:TH) reported fourth-quarter results that surpassed analyst estimates on Wednesday.

The company’s shares soared 5.22% in premarket trading following the release.

The provider of modular accommodations and hospitality services posted adjusted earnings per share of $0.12, beating the consensus forecast of $0.08. Revenue came in at $83.69 million, topping expectations of $80.1 million.

For the full year 2024, Target (NYSE:TGT) Hospitality generated revenue of $386.3 million and net income of $71.4 million.

Looking ahead, the company provided an upbeat outlook for fiscal 2025, projecting revenue between $265 million and $285 million. The midpoint of this guidance range is slightly above the current analyst consensus of $265.8 million.

"Our 2024 performance further illustrates our ability to deliver strong results through a variety of business cycles and dynamic changes in customer demand," said Brad Archer, President and CEO of Target Hospitality.

Archer highlighted recent contract wins, including a multi-year workforce hub contract expected to generate approximately $140 million in revenue through 2027, as well as a 5-year $246 million contract to reactivate assets in South Texas.

The company’s strong financial position, with $191 million in cash and no net debt as of December 31, 2024, provides flexibility to pursue additional growth initiatives.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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