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) is a leading provider of specialty rental and comprehensive hospitality services in the United States. Headquartered in The Woodlands, Texas, the company operates through three primary segments: Permian Basin, Bakken Basin, and Government. It owns a network of specialty rental accommodation units, boasting approximately 13,800 beds across 25 sites, including 26 communities within the Permian and Bakken Basins. Target Hospitality serves investment-grade oil and gas companies, energy infrastructure firms, and U.S. government and government contractors.
The company is known for its vertically integrated modular accommodations and value-added hospitality services. This includes a wide range of offerings such as premium food service management, maintenance, housekeeping, grounds-keeping, on-site security, overall workforce lodge management, and laundry services. The Government segment is a substantial revenue driver, contributing significantly through contracts located in Texas.
Recent organizational changes have seen Jason Vlacich promoted to Chief Financial Officer and Troy Schrenk to Senior Executive Vice President of Operations. These moves are in alignment with a new multi-year humanitarian contract, positioning the company for further growth. Financially, Target Hospitality reported robust 2023 results with revenue reaching $563.6 million, a significant increase driven by its Government segment. The company maintains a strong balance sheet with strategic capital management, including a substantial share repurchase program.
Target Hospitality has also announced a notable partnership with the Chard Métis Dene Group of Companies to enhance community-driven economic opportunities. In addition, the company has received an unsolicited acquisition proposal from Arrow Holdings S.à r.l., further highlighting its market value.
In summary, Target Hospitality Corp. is a pivotal player in the specialty rental and hospitality services market, leveraging its comprehensive service offerings and strategic partnerships to drive consistent growth and operational excellence.
Target Hospitality Corp. (NASDAQ: TH) has announced an expanded lease and services agreement to enhance infrastructure and comprehensive facility services for humanitarian aid. This agreement will support approximately 6,400 displaced persons, marking a 60% increase from the initial contract. Effective May 16, 2022, the expansion includes upgrades to infrastructure with over 1.7 million square feet of facilities, 1,600 modular buildings, and various amenities. A conference call is scheduled for July 12, 2022, to discuss further details and the company's 2022 financial outlook.
Target Hospitality Corp. (NASDAQ: TH), a leading provider of modular accommodations and hospitality services, will present at two upcoming conferences: the Stifel 2022 Cross Sector Insight Conference on June 7 and the Bank of America Securities Credit Conference on June 9, 2022. Both events will be broadcast live, with replays available on the company's website. Target Hospitality offers a wide range of services including food management, logistics, and security, enhancing its footprint in North America's accommodation industry.
Target Hospitality Corp. (NASDAQ: TH) announced that Brad Archer will continue as President and CEO until June 30, 2025. Archer's decision follows discussions with the Board amid ongoing transformational changes within the company. Target Hospitality is advancing its strategic diversification and is close to securing a contract to enhance its role in U.S. domestic humanitarian aid missions. This development is expected to drive growth and value creation. The Board expresses support for Archer's leadership as the company aims to maximize shareholder value and expand its service offerings.
Target Hospitality Corp. (NASDAQ: TH) reported a robust first quarter in 2022, with revenue of $80.3 million, marking a 77% increase from 2021. The company achieved a net income of $0.5 million compared to a loss of $13.1 million in Q1 2021. Adjusted EBITDA surged by 109% to $33.4 million. Strong demand is evident, with customer demand rising by 65% year-over-year, and 58% of revenue linked to government contracts, which grew by 159%. The company maintains a net leverage ratio of 2.6 times and has approximately $115 million in available liquidity.
Target Hospitality Corp. (NASDAQ: TH) will release its first quarter 2022 financial results on May 10, 2022, before the market opens. A conference call is scheduled for the same day at 9:00 AM ET to discuss these results. Investors can access the call via a live webcast on the company's website. As one of North America's largest providers of modular accommodations and hospitality services, Target continues to enhance its offerings, which include food service management and logistics.
Target Hospitality Corp. (NASDAQ: TH), the largest provider of modular accommodations in North America, will present at Oppenheimer's 17th Annual Industrial Growth Conference on May 3, 2022, at 12:45 PM Eastern Time. The event will be available via live webcast on the company's website. A replay will also be accessible for a limited time. Target Hospitality offers a range of hospitality services including food service management and logistics, operating comprehensive communities tailored for various end users.
Target Hospitality Corp. (NASDAQ: TH) reported a strong performance for 2021, with revenues of $291.3 million, a 29% increase year-over-year, and a reduced net loss of $4.6 million compared to $25.1 million in 2020. Adjusted EBITDA rose by 52% to $119.2 million, exceeding projections. The government segment revenue surged by 147%, contributing significantly to cash flow, which reached $104.6 million. Target also improved its net leverage ratio by 58% to 2.7 times, with $148 million in liquidity. Preliminary 2022 revenue outlook is $325-$335 million.
Target Hospitality Corp. (NASDAQ: TH) will release its fourth quarter and full year 2021 financial results on March 10, 2022, before market opens. A conference call is also scheduled for the same day at 9:00 AM ET to discuss these results. Investors can join via live webcast on the company’s website. As North America’s largest provider of modular accommodations and hospitality services, Target Hospitality focuses on delivering customized solutions for various end users.
Target Hospitality Corp. (NASDAQ: TH) announced Brad Archer's resignation as President and CEO, effective December 31, 2022, as part of a succession plan. Archer will assist in the transition and remains a strategic advisor. Under his tenure since 2014, the company achieved significant milestones, including a 29% increase in anticipated full-year 2021 revenue to approximately $290 million, exceeding prior projections. The Board has formed a search committee to find Archer's successor, emphasizing the company's strong market position and robust customer demand.
Target Hospitality Corp. (NASDAQ: TH), the largest provider of vertically-integrated modular accommodations in North America, will present at the Bank of America Securities 2021 Leveraged Finance Conference on November 30, 2021, at 3:45 PM ET. The event will be available via live webcast on the company's website, and a replay will be accessible for a limited time. Target Hospitality specializes in custom communities offering comprehensive hospitality services, including premium food service, logistics, and recreational facilities.
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