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 has appointed Major General (Ret.) Barbara Faulkenberry to its board of directors as of August 4, 2021, to strengthen its focus on government services. This strategic move aligns with the company's growth strategy in adjacent markets. Faulkenberry's extensive military experience will enhance Target's capabilities in evaluating and executing government service opportunities. The appointment aims to broaden the board's expertise and supports the company's commitment to expand value-added solutions for the United States Government.
Target Hospitality Corp. (NASDAQ: TH) will release its second quarter 2021 financial results on August 11, 2021, before market opens. A conference call will be held the same day at 9:00 AM ET to discuss the results. Interested participants can access the call via a live webcast on the company's website. Target Hospitality is recognized as North America's largest provider of modular accommodations and hospitality services, offering extensive solutions including food service management and logistics.
Target Hospitality Corp. (NASDAQ: TH) announced its presentation at the Bank of America Energy Credit Conference on June 9, 2021, at 3:00 pm ET. The event will be streamed live, with a recording available later on the company's website. Target Hospitality is the largest provider of vertically-integrated specialty hospitality accommodations in the U.S., offering a suite of services including culinary, catering, and security, primarily aimed at the energy and government sectors.
Target Hospitality reported a revenue decrease of 36.5%, totaling $45.5 million for Q1 2021, down from $71.7 million in Q1 2020. The company faced a net loss of $13.1 million, contrasting with a net income of $5.5 million in the previous year. Adjusted EBITDA also declined to $16 million from $32.4 million. Despite challenges, customer demand increased, evidenced by an 800 basis points rise in utilization. A new $118 million government services contract bolstered 72% of projected revenue for 2021, prompting a revision of Adjusted EBITDA outlook to $97-$107 million.
Target Hospitality Corp. (NASDAQ: TH) will announce its first quarter 2021 financial results on May 24, 2021, before the market opens. A conference call for investors is scheduled for the same day at 9:00 AM ET. Interested parties can join via a live webcast on the company's website. Target Hospitality is the leading provider of vertically-integrated specialty rental accommodations and hospitality services in the U.S., mainly serving the energy and government sectors.
Target Hospitality (NASDAQ: TH) announced an amendment to its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, due to the SEC's guidance change regarding SPAC warrant accounting. The company will restate financials to reflect private placement warrants as liabilities rather than equity. This restatement is expected to generate between $2 million and $6 million in non-operating income for 2019 and 2020, without impacting cash flows. Approximately 5.3 million private warrants remain outstanding.
Target Hospitality Corp. (NASDAQ: TH) reported its 2020 financial results, revealing a significant decline in revenue, down to $225.1 million from $321.1 million in 2019. The company faced a net loss of $27.5 million, contrasting with a net income of $6.2 million the previous year. Adjusted EBITDA also fell to $78.5 million. Despite challenges due to the COVID-19 pandemic, the company secured $383 million in minimum revenue contracts, including a $118 million contract for humanitarian aid. Target anticipates revenue between $235 million and $245 million in 2021.
Target Hospitality Corp. (NASDAQ: TH) has announced a significant contract with a leading national nonprofit organization to provide comprehensive hospitality services for up to 4,000 individuals, including displaced persons. The Company will leverage its existing network and infrastructure to deliver lodging, food management, and logistics services, enabling prompt mobilization for humanitarian aid. This partnership reflects Target's strategy to diversify through high-quality contracts and build long-term relationships with nonprofit organizations.
Target Hospitality Corp. announced that it will release its fourth quarter and full year 2020 financial results on March 30, 2021, before market opens. A conference call is set for the same day at 9:00 AM ET to discuss the results, accessible via a live webcast on their website. Target Hospitality, the largest provider of vertically integrated specialty hospitality accommodations in the U.S., focuses on the energy and government sectors, operating 25 communities with over 13,000 rooms, offering various hospitality services.
Target Hospitality Corp. (NASDAQ: TH) reported Q3 2020 revenues of $48.3 million, down from $81.6 million in Q3 2019. The company experienced a net loss of $(7.9) million versus a net income of $9.6 million last year. Adjusted EBITDA was $17.0 million, down from $40.6 million. However, strong cash flow generation continued with $28.6 million from operations. Target secured a $265 million revenue contract extension with CoreCivic, contributing to a revised annual financial outlook of $207-$212 million in revenue.
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