Welcome to our dedicated page for Target Hospitality news (Ticker: TH), a resource for investors and traders seeking the latest updates and insights on Target Hospitality stock.
Target Hospitality Corp (NASDAQ: TH) delivers specialized modular accommodations and integrated hospitality services to government agencies and energy sector clients. This news hub provides investors and industry professionals with timely updates on corporate developments, operational milestones, and strategic initiatives.
Access comprehensive coverage of TH's activities across its core segments: government contract implementations in critical response scenarios, energy sector community management in the Permian and Bakken Basins, and infrastructure project support services. Our curated news collection features earnings announcements, partnership disclosures, and operational updates that impact the company's market position.
Key content categories include government services contract awards, energy sector accommodation expansions, financial performance reports, and leadership updates. The repository serves as an essential resource for tracking TH's vertically integrated business model execution and its adaptation to evolving market demands.
Bookmark this page for streamlined access to verified information about Target Hospitality's specialty rental innovations and hospitality service enhancements. Regularly updated content ensures stakeholders maintain current awareness of developments affecting this niche market leader.
Target Hospitality (Nasdaq: TH) has secured a new five-year lease and services agreement with CoreCivic to reactivate its Dilley, Texas facility. The contract, running through March 2030, is expected to generate over $246 million in revenue, with approximately $30 million anticipated in 2025.
The Dilley Facility, previously operated as the South Texas Family Residential Center from 2014 to 2024, will maintain similar facility size and operational scope, supporting up to 2,400 individuals. The reactivation requires no capital investment and includes fixed minimum revenue regardless of occupancy.
The agreement is supported by an amended intergovernmental services agreement between the city of Dilley and U.S. Immigration and Customs Enforcement (ICE), subject to annual government appropriations with a 60-day cancellation notice option.
Target Hospitality (Nasdaq: TH) announced that the U.S. government is terminating its Pecos Children's Center (PCC) services agreement with Target's nonprofit partner, effective February 21, 2025. The PCC Contract, which utilized Target's modular assets and real property supporting up to 6,000 individuals, was terminated for convenience by the nonprofit partner.
The company will maintain ownership of these assets and plans to repurpose them to support existing operations and pursue new growth opportunities. These include potential solutions supporting U.S. government immigration policies, including utilizing previously leased assets in Dilley, Texas. Due to this development, Target has withdrawn its preliminary 2025 financial outlook and plans to provide updated operational and financial guidance soon.
Target Hospitality (Nasdaq: TH) has secured a multi-year workforce housing contract with Lithium Americas Corp. to support the Thacker Pass Project, the world's largest known measured lithium resource. The contract involves constructing and managing a Workforce Hub in Winnemucca, Nevada, capable of housing 2,000 individuals through 2027.
The contract is expected to generate approximately $140 million in revenue over its initial term, with $76 million of committed minimum revenue. About $68 million of committed minimum revenue is anticipated for 2025. Target will invest $15-20 million in growth capital for new regional network capacity.
The Thacker Pass Project is jointly owned by Lithium Americas (62%) and General Motors (38%), with GM investing $945 million. The project has secured a $2.26 billion loan from the U.S. Department of Energy. Target anticipates first occupancy by mid-2025 and completion by year-end 2025. The company projects 2025 total revenue between $385-395 million and Adjusted EBITDA between $150-160 million.
Target Hospitality (Nasdaq: TH) has appointed Brendan Dowhaniuk as Executive Vice President of Strategy and Corporate Development. In his new role, Dowhaniuk will focus on advancing the company's strategic priorities, including mergers and acquisitions, and developing growth opportunities. Prior to joining Target, he held senior M&A positions at Alimentation Couche-Tard (Circle K), Hoonigan, and Eastman Chemical Company, where he managed acquisition activities and portfolio strategy. His background includes experience at Cenovus Energy Inc. and Desjardins Capital Markets' Energy Investment Banking group. Dowhaniuk holds a master's degree from the University of Alberta and a bachelor's degree from the University of Calgary.
Target Hospitality (NASDAQ: TH) announced the extension of its Pecos Children's Center (PCC) contract, which has been serving the U.S. government's humanitarian aid mission since 2021. The extended contract, effective November 16, 2024, will support a community of up to 6,000 individuals and generate minimum annual lease revenue of approximately $168 million. The company reaffirmed its 2024 financial outlook, excluding potential variable revenue from PCC occupancy. Additionally, Target has engaged Carla L. Provost, former Chief of the U.S. Border Patrol, as a strategic advisor to support government-focused growth initiatives.
Target Hospitality (NASDAQ: TH) reported Q3 2024 results with revenue of $95.2 million and net income of $20.1 million. The company achieved basic and diluted earnings per share of $0.20, and Adjusted EBITDA of $49.7 million. Cash generation remained strong with $31.4 million from operating activities. The company maintains significant financial flexibility with $353 million in total available liquidity and a net leverage ratio of 0.0x. Year-to-date stock repurchases totaled $33.2 million through November 8, 2024. The company reiterated its 2024 outlook with expected revenue between $375-385 million and Adjusted EBITDA between $184-190 million.
Target Hospitality (NASDAQ: TH), a leading provider of modular accommodations and hospitality services in North America, has announced its schedule for the third quarter 2024 earnings release. The company will release financial results before market opening on Tuesday, November 12, 2024, followed by a conference call at 9:00 AM ET. Investors can access the conference call through a live webcast on the company's website, with direct phone dial and traditional operator-assisted options available. A replay will be accessible through Target Hospitality's Investors section.
Target Hospitality Corp. (Nasdaq: TH) has announced that its Board of Directors has disbanded the Special Committee established to evaluate an unsolicited non-binding offer from Arrow Holdings S.à r.l., an affiliate of TDR Capital LLP. The offer, made on March 24, 2024, proposed to acquire all outstanding shares not owned by Arrow or TDR-managed funds for $10.80 per share.
Following a contract loss and no formal offers received, the company will focus on allocating capital to high-return initiatives, including in-organic growth. Target Hospitality has reaffirmed its 2024 guidance outlook based on strong year-to-date operating results. The company cites strong business fundamentals, healthy demand for services, and a robust cash generation as key factors supporting its outlook.
Target Hospitality Corp. (NASDAQ: TH) reported its Q2 2024 results:
- Revenue of $100.7 million
- Net income of $18.4 million
- Basic and diluted EPS of $0.18
- Adjusted EBITDA of $52.2 million
- Net Cash Provided by Operating Activities of $39.1 million
- Discretionary Cash Flow of $32.8 million
The company has a strong financial position with $329 million in total available liquidity and a net leverage ratio of 0.1x. Target is progressing towards zero net debt by year-end 2024. The company reiterated its 2024 outlook, projecting revenue between $375-$385 million and Adjusted EBITDA between $184-$190 million. Target is evaluating growth opportunities to diversify its contract portfolio while maintaining financial discipline.
Target Hospitality Corp. (NASDAQ: TH), a leading provider of modular accommodations and hospitality services in North America, has announced its schedule for the release of its second quarter 2024 financial results. The company will unveil its earnings before the market opens on Wednesday, August 7, 2024. Following the release, Target Hospitality will host a conference call at 9:00 am Eastern Time (8:00 am Central Time) to discuss the results in detail.
Investors and interested parties can access the live webcast of the conference call through the Investors section of Target Hospitality's website. For those who prefer to dial in, a direct phone dial option and traditional operator-assisted lines are available. Participants are advised to register or dial in approximately 15 minutes before the scheduled start time. A replay of the conference call will be made available on the company's website for those unable to attend the live event.
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